Buildup, a Mountain View, Calif.-based mobile collaboration and task management platform for construction job sites, raised $7 million in Series A funding. Investors include TLV Partners, UpWest Labs, 01 Ventures, Abstract Ventures, as well as Check founders Guy Goldstein and Ahikam Kaufman.
The Israeli company has developed an app to manage complex construction projects and reports that it can speed up construction by 25%.
Palo Alto, California-based Buildup Technologies is trying to make construction sites more efficient by introducing digital tools for communication and workflow management
As venture capitalists, we search for a variety of key themes while evaluating potential investments. One such theme is markets in dire need of a technological face-lift. But it is not enough for an industry’s processes to be “outdated”, rather the opportunity to create a large, long-standing businesses must exist as well. Our previous investments in Next Insurance (insurance)and Aidoc (healthcare) are good examples of this. For the past year, we have been looking closely at an industry that fits the above criteria: Construction.
Palo Alto, California-based Buildup, a mobile collaboration and task management platform for construction jobsites, has secured $7 million in Series A funding. The investors included TLV Partners, UpWest Labs, 01 Ventures and Abstract Ventures. In conjunction with the funding, Eitan Bek, a managing partner at TLV Partners, will join the Buildup board of directors.
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