Construction Tech Co. Prescient Gets $90M Financing
Law360 (June 3, 2020, 8:11 PM EDT) -- Construction engineering company Prescient Co. Inc. announced Wednesday it has received $90 million in financing from Greenwich, Connecticut-based holding company Eldridge Industries LLC.
Prescient's CEO Magued Eldaief said in an interview with Law360 that the funds will be used to complete more projects and further develop its technology. He added that the financing shows investors believe in the company's Digital Thread software's future in a post-COVID-19 environment.
"You would think that in this time, people would be hesitant to make that kind of commitment or investment with all of the uncertainty," Eldaief said. "For me, it just reaffirms that we are on...
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