Digging Deeper - Why Greenfield Doubled Down on Exodigo

At Greenfield, we pride ourselves on partnering with transformative companies addressing massive, under-innovated markets. When we first invested in Exodigo in late 2023, we saw an exceptional team solving one of infrastructure’s greatest challenges: underground uncertainty. Today, just over a year later, we're excited to announce we've doubled down on Exodigo, co-leading their oversubscribed $96 million Series B alongside Zeev Ventures, marking another significant step forward.

From Early Conviction to Category Standard

Simply put, Exodigo has consistently surpassed our expectations across every dimension—from product innovation and customer traction to operational execution and market momentum. Their groundbreaking approach combines advanced multi-sensing technology and proprietary AI to deliver unprecedented underground visibility, addressing a $500 billion infrastructure engineering market.

Since our initial investment, Exodigo has significantly accelerated its commercial traction, securing major strategic partnerships and high-value multi-million-dollar contracts, including notable agreements with industry leaders such as Amtrak, California High-Speed Rail Authority, Florida DOT, Kansas DOT, LA Metro, and Sound Transit. These partnerships underline the industry's recognition of Exodigo’s unique value proposition and its growing role as a critical component of infrastructure projects.

Momentum in the Market and the Field

Their commercial pipeline has similarly expanded dramatically, reflecting accelerating demand and massive global infrastructure spending tailwinds. With governments around the world, including the US and Germany, committing hundreds of billions to infrastructure, Exodigo's solution is increasingly essential.

In parallel, Exodigo made tremendous strides in product innovation and R&D, delivering enhanced operational scalability through local field partners and expanding its subsurface analysis and insights beyond its initial utility detection focus. Exodigo made major progress is its upcoming geospatial risk product line that will unlock new growth opportunities and expand its role earlier in the infrastructure planning lifecycle. These advances position the company to enter new markets, drive long-term value, and become the foundational intelligence layer for the built environment.

Additionally, Exodigo significantly strengthened its executive team with impressive new hires, including Rodney Lacy, VP of US Operations, a former engineering and construction executive with over 30 years of large-scale project experience, and Anthony Bauer, Business Development Lead for Transportation, an expert in underground construction with over 15 years in tunnelling and transit. These hires underscore Exodigo’s commitment to scaling operational excellence and deep industry expertise.

These achievements validate our original thesis: Exodigo is uniquely positioned to set the global standard in subsurface mapping, fundamentally transforming how infrastructure projects are planned, designed, and executed—reducing delays, costs, and risks.

The Road Ahead

With the Series B round, Exodigo plans to intensify its R&D investments, further accelerate the development of its geotechnical risk-reduction solutions and significantly scale its global operations. Already, they've more than doubled their US presence, positioning themselves in major infrastructure hubs across the country. The foundation is set for Exodigo to achieve ambitious milestones in the coming year and beyond.

We couldn’t be more thrilled to deepen our partnership with Jeremy Suard and the phenomenal Exodigo team. As infrastructure moves toward an era defined by precision, efficiency, and sustainability, we believe Exodigo stands ready to become a category-defining leader—and Greenfield is proud to continue supporting their visionary journey.