Buildup, a California-based startup that offers a mobile collaboration and task management platform for construction jobsites, announced recently that it raised $7 million in a Series A funding round.
Participating in the funding were LV Partners, UpWest Labs, 01Ventures, Abstract Ventures, as well as Check founders Guy Goldstein and Ahikam Kaufman.
In a release, the company said that it plans to use the funding to expand the company's engineering, sales, and marketing teams, while continuing to build out its product offering for construction projects.
What sets Buildup apart, according to the company, is its platform’s ability to increase productivity on construction jobsites.
According to the company, its platform enhances communication between general contractors, subcontractors, developers, and property managers.
“Buildup's solution, available on mobile devices and the web, complements leading project and document management systems by focusing on real-time task management and extending collaboration beyond the front office, into the field,” the company said. “The Buildup platform offers dynamic punchlists, easy task creation, automated task sequencing, quality control mechanisms, project insights, subcontractor performance analysis, and more.”
And now the company plans to expand.
“We are thrilled to be working with TLV Partners and our other investors to continue expanding the Buildup product and getting it into the hands of more developers, contractors, and subcontractors,” Oren Cohen, co-founder and CEO of Buildup, said. “Our customers have used Buildup to make jobsites more efficient and collaborative, while also gaining newfound insight into critical and timely data during the execution stage of construction projects, when most of their budget is spent.”
As part of the financing, Eitan Bek, managing partner at TLV Partners, will join Buildup’s board of directors.
“The construction industry lags behind other markets in the overall productivity of its workers. Buildup addresses the longest phase of a construction project: building,” Bek said.
“The management team has executed extremely well, with limited resources, and has managed to achieve significant customer adoption in a challenging market,” Bek continued. “We are excited to join them on this journey as they improve productivity for construction companies in the United States and beyond.”
