Katerra, a Construction Start-Up, Raises $865 Million

LONDON — Over just three years, Katerra has grown from a start-up with an unusual approach to the construction industry into a company with $1.3 billion in bookings.

Now it has drawn support from one of the biggest and most disruptive backers of start-ups around.

Katerra plans to announce on Wednesday that it has raised $865 million in a new round of financing led by SoftBank’s Vision Fund, the nearly $100 billion investment vehicle that has shaken up the world of venture capital.

It is the latest outsize bet by the Vision Fund, which has poured billions into start-ups, including WeWork, the virtual reality company Improbable and the indoor farming company Plenty.

In Katerra, the Vision Fund and other investors — they include the Canada Pension Plan Investment Board and Soros Fund Management — are backing a start-up that is approaching the $12 trillion construction industry in a new way. The company’s founders include Michael Marks, a former chief executive of the electronics company now known as Flex; Jim Davidson, a founder of Silver Lake, the technology investment firm; and Fritz H. Wolff, the executive chairman of the Wolff Company, the real estate private equity firm.

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