DURHAM, N.C., Dec. 04, 2018 (GLOBE NEWSWIRE) -- Prescient, a fully integrated BIM design and building platform that dramatically reduces the time and cost of constructing multi-unit housing, today announced that it has been named Innovator of the Year by Construction Dive, a leading industry news publisher.
The 2018 Dive Awards recognize the industry’s top disruptors and innovators. Honorees include companies and executives that are driving breakthroughs transforming the construction industry and shaping its future. Construction Dive solicited suggestions for title nominees from its 233,000+ readers and winners were chosen by the editors of Construction Dive based on resonance and industry impact.
“We are thrilled to be recognized as the ‘Innovator or the Year,’” said Magued Eldaief, Chief Executive Officer of Prescient. “It is an honor for Prescient to receive this award on behalf of all of our employees who show their commitment to our company and uphold our mission to ‘Revolutionize the Building Environment.’ I am excited to continue this journey along with the rest of the Prescient team as we continue to offer our clients cutting-edge technology, lower costs and faster completion times.”
“Prescient is one of many tech-driven offsite construction firms capitalizing on the modular building wave, but the startup is steadily scaling with technology to deliver structures up to 18 stories tall and even exploring franchising opportunities and international expansion,” said Joe Beeton, Editor of Construction Dive.
You can view the full news article announcing the award from Construction Dive here.
Throughout its history, Prescient has thrived by continually staying one step ahead through constant innovation. Over the course of 2018, Prescient has launched several other innovative features that are integrated into its design and are intended to improve and accelerate the building process. These launches include:
- proprietary weld-free elevator rail attachments which reduce elevator rail installation time by half;
- integrated balconies for faster design and installation;
- integrated metal decks that are lighter, installed faster, and can absorb seismic energy;
- and integrated stairways, which subcontractors can use during building removing the need for ladders or scaffoldings, improving the speed of construction and creating a safer build environment.
Since 2012, Prescient has raised $195 million in equity funding at a pre-money valuation of $650 million and has grown substantially, with a compounded annual growth rate (CAGR) of 66 percent.
To date, Prescient has completed a total of 5.1M square feet of construction with another 4.7M under development. Prescient has active projects underway or completed in 15 states: Colorado, Florida, Georgia, Illinois, Kansas, Kentucky, Michigan, Missouri, Nebraska, New York, North Carolina, Oklahoma, South Carolina, Texas and Virginia. It is beginning to develop additional projects across California and new states in the Northeast.
About Prescient
The foundation for Prescient’s revolution is a standardized light gauge framing system that utilizes proprietary software applications which create a design and construction platform.
Bringing the Digital World to the Physical World. The Prescient Digital Thread is based on a model-centric design and planning platform that liberates project stakeholders to plan better and execute better. Our thread connects projects from the initial architectural design through the finished building. As a result, a project is no longer a series of isolated steps with familiar breakdowns and gaps. Instead, it becomes an orderly progression through a repeatable flow, connecting developer, designers, suppliers and contractors at every step. This seamless approach means higher productivity, higher quality, fewer last-minute conflicts on site, less waste, shorter schedules and a better ROI.
Integrated Manufacturing. Prescient uses precision manufacturing technology including robotics, laser cutting systems and state-of-the-art numerically controlled flexible manufacturing systems to deliver buildings with very tight tolerances, comparable to the automotive industry. Prescient’s digital thread integrates planning & design with manufacturing & installation.
Established in 2012, Prescient is aiming for nothing less than a revolution in the way buildings take shape through new levels of cost efficiency, environmental sustainability and quality of outcome for all participants. Prescient’s platform ensures buildings perform better, cost less and take less time to build by employing a digital thread for leading-edge integrated design, engineering, manufacturing & installation.
We are Prescient. Our mission is Attainable Housing for All and we are achieving that by Revolutionizing The Building Environment.
For more information, visit the company website, Twitter feed or Facebook page.
About Construction Dive
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Media Contact, for Prescient
Blair Hennessy, Abernathy MacGregor
212-371-5999
bth@abmac.com