Reebuild, a Vienna-based construction technology firm, has closed a €3 million seed funding round to scale its AI-driven platform for automating administrative and financial operations in the building sector. Fortino Ventures led the investment, joined by Rise PropTech and CuriosityVC. The capital will fuel the company's push into fresh European territories and the rollout of new AI-native features designed to streamline contractor workflows across calculation, approvals and accounting while fitting into existing systems.
The platform tackles a persistent pain point in construction: the reliance on spreadsheets and manual labour to handle invoices, contracts and project budgets. Reebuild's software automates document processing—ingesting invoices, delivery notes, order confirmations and scanned files—and converts them into structured, machine-readable data. The system automatically reconciles related paperwork, recalculates invoice amendments and deploys AI agents to flag tasks and suggest actions, though humans retain final sign-off authority.
The efficiency gains are substantial. Reebuild reports that invoice processing time drops from over 20 minutes to roughly three minutes, while approval cycles shrink from five days to about one and a half days. Companies using the platform have also reported procurement savings reaching as much as 20 per cent.
Alexander Kornell, the company's CEO and founder, reflected on the sector's entrenched habits: "We know the problems of this industry firsthand, and we build reebuild together with our customers, extremely close to the day-to-day reality on site. The software many construction companies and developers still work with today has barely evolved in decades and has fallen behind rising expectations."
Reebuild currently operates across more than 120 clients managing over 8,200 construction sites and projects. To date, the platform has processed invoices totalling more than €530 million.
Beyond invoice automation, the startup is building additional AI-powered modules covering project estimation, on-site documentation and accounting functions. The new funding will support geographic expansion from its current footprint in Austria and Germany into the broader European market, as well as team growth in Vienna and further development of its AI capabilities.
Source: Tech.eu
