SoftBank CEO Masayoshi Son. Photo by Alessandro Di Ciommo/Getty Images

Silicon Valley construction-tech company Katerra has raised $865 million in new funding led by SoftBank, at a valuation north of $3 billion.

Bottom line: Katerra chairman and co-founder Michael Marks, who previously led Flex, says that the giant raise will help reassure large customers that the company is here to stay, despite having raised $130 million just last April. Marks also says that Katerra will become profitable next year.

Deal details: New investors include Canada Pension Plan Investment Board, Soros Fund Management, Tavistock Group, Navitas Capital and DivcoWest. SoftBank Vision Fund managing partner Jeffrey Housenbold is taking a board seat.

Flashback: The bet here is that the building construction supply chain isn't really all that different from the computer manufacturing supply chain. The common link is Marks, who faced similar supply chain skepticism in his early days of leading what was then known as Flextronics. Marks also spent time in private equity and as interim CEO of Tesla Motors.

Editor's note: This piece was corrected to show Michael Marks is the chairman and co-founder of Katerra.

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Hurricane Zeta's forecast path. Photo: National Hurricane Center

Louisiana Gov. John Bel Edwards (D) declared a state of emergency Monday as Zeta strengthened into a hurricane and threatened Mexico's Yucatan Peninsula as it moved towards the U.S. Gulf Coast.

The state of play: Zeta was expected to make landfall on the northern part of the Yucatan Peninsula Monday night, bringing with it a "dangerous storm surge" and "heavy rainfall" as it moved into the Gulf of Mexico, the National Hurricane Service said.

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Supreme Court rejects request to extend Wisconsin absentee ballot deadline

Photo: Saul Loeb/AFP via Getty Images

The Supreme Court in a 5-3 decision Monday rejected an effort by Wisconsin Democrats and civil rights groups to extend the state's deadline for counting absentee ballots to six days after Election Day, as long as they were postmarked by Nov. 3.

Why it matters: All ballots must now be received by 8 p.m. on Election Day in Wisconsin, a critical swing state in the presidential election.

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