BuildingConnected, which supplies software program linking contractors and builders has raised $15 million from a strategic investor — Brookfield Ventures, the brand new enterprise arm from actual property developer Brookfield Asset Management.
The new funding bumps the overall raised by BuildingConnect to $53 million. Previous traders within the firm embrace Crosslink Capital, Brick & Mortar Ventures, Freestyle Capital, Homebrew, Bee Partners, and Lightspeed Venture Partners.
“It is rare to have an investor also be a customer. We are excited to have Brookfield as a partner as we seek to expand our geographic footprint and develop new and innovative products for our expanding roster of customers,” stated BuildingConnected CEO Dustin DeVan in an announcement.
DeVan, a former engineer within the building business and his co-founder, Jesse Pederson, who labored in on-line advertising, each noticed the necessity for knowledgeable community that linked events within the building business.
Over $80 billion of latest building tasks are posted to the corporate’s platform the place roughly 170,000 small enterprise house owners, common contractors, and subcontractors at the moment are pitching their companies.
Companies itemizing work on the platform embrace building companies like Clark Construction, Mortenson, McCarthy, StructureTone, Shawmut, Turner Construction, and others. And BuildingConnected counts house owners and builders similar to Brookfield, Panera Bread, UCSF, and Duke Realty as prospects.
Brookfield isn’t solely a BuildingConnect investor, it’s additionally a buyer. Over 300 Brookfield tasks have used the BuildingConnected market for jobs starting from $50,000 transforming contracts to $900 million workplace towers.