DigiBuild: $4M Seed Round Announcement
DigiBuild, a construction software that improves profits and projects for contractors, is announcing a $4M seed round backed by high-profile investors YCombinator, Draper Associates, Harvard University, Picus Capital, the PlanGrid cofounders, Bluefield Capital (2x), Cathexis Ventures, MH Carnegie, Build Technologies, YC Alum Fund and more.
DigiBuild is making waves by improving Material Management and Supply Chain in Construction. The massive industry is notorious for complex supply chains that add cost and risk for stakeholders involved in building projects. Covid shutdowns have amplified these problems.
The building process involves managing a significant amount of processes, paperwork, and data, which add cost and risk for construction firms.
Current software solutions resemble Dropbox for Construction and are limited in function, whereas DigiBuild acts as more of a digital project manager. They provide more automation, audit capabilities, and data insights to reduce complexity for construction management teams.
Using DigiBuild, construction companies send important communications, workflows, and data to one another, allowing them to coordinate.
The tools are built on blockchain infrastructure, allowing a single source of information amongst typically distrusting construction stakeholders involved in a project.
This unique feature sets DigiBuild apart from competitors who build their software in closed-off databases.
The ConTech company is proving to be a notable real-world use case of the much-hyped Blockchain Technology.
The ROI of DigiBuild to construction contractors is immense: companies can cut their management labor hours in half, save hundreds of thousands in material pricing, reduce late deliveries and schedule delays by 90%, and track all material data insights.
The team has managed over $5 billion in construction projects, including the CEO, who founded a nationwide construction company.
The engineering team has worked on projects alongside Coinbase, IBM, Zenefits, and more.
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