Construction-tech company Prescient, which fabricated components for multi-family buildings, is closing its Arvada factory and laying off 60 employees, according to a letter the company sent to the Colorado Department of Labor and Employment on Thursday.
CHARLOTTE – Two long-time investors, Eldridge and JE Dunn, have led a $190 million strategic investment and bonding support round to fuel the expansion and growth of Prescient, a digital design company and advanced architectural software company that focuses in providing technology solutions for the multifamily industry.
“Prescient has demonstrated the benefits of its unique proprietary platform over the last eight years, which has provided our customers with an ideal solution to build faster and more economically,” said Magued Eldaief, CEO of Prescient in a statement issued by the company. “The support of Eldridge and JE Dunn is indicative of the strength of our technology, the progress we have made in getting market acceptance for our product, our business strategy and the significant growth opportunity ahead of us.”