Vertical software is becoming one of the fastest growing areas of tech. From cannabis to construction, here are the 10 things you need to know.
Vertical software is now raising capital like horizontal software.
One example that stuck out in our report was Meicai, a platform which connects vegetable farmers with restaurants across China. The company raised an estimated $600 million to 800 million in October 2018 from Tiger Global Management and Hillhouse Capital and is now valued at an estimated $7 billion. In January 2018, the company raised $450 mand was valued at an estimated $2.8 billion. We are seeing the same trend of “endless capital” starting to play out for vertical, at-scale companies.
. Despite its maturation, Healthcare continues to be a software vertical showing strong signs of company formation, growth, and exit volume.If you can’t beat them, you might as well buy them. In the construction space, we are seeing an era of consolidation occurring. Autodesk recently announced its $875 million purchase of construction workflow management software, PlanGrid. Other notable transactions include Oracle’s $1.2 billion purchase of Aconex and Trimble’s $1.2 purchase of Viewpoint.
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