Tuesday, November 29, 2022

BuildOps Rakes $43 Million in Series A Funding Round to Transform Commercial Contracting

By ET Bureau - May 25, 2022 3 mins read

BuildOps, the only all-in-one management software built specifically for the modern commercial contractor, today announced $43 million in Series A funding, led by Next47, a global venture capital firm backed by Siemens specializing in building category defining B2B technology businesses, to further augment their growth as the market leader revolutionizing the world of specialty contractors. Founders Fund, StepStone Group, Fika Ventures, Global Founders Capital, MetaProp VC, 1984 Ventures, L2 Ventures, NBA all-star Metta World Peace, Boost Mobile CEO Stephen Stokols, and others also participated in the financing to be used to support the company’s continued growth.

BuildOps is a purpose-built technology platform that integrates scheduling, dispatching, inventory management, contracts, workflow, and accounting into a single software suite for commercial contractors with staff ranging from a dozen to thousands of employees.

“At BuildOps, we are on a mission to bring a true all-in-one solution on the latest technology to the people who keep America’s hospitals, power plants and commercial real estate running,” said former United States Army Captain and serial entrepreneur Alok Chanani, BuildOps Co-founder and CEO. “We are privileged to be working closely with some of the country’s top commercial contractors.”

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The company has been fueled by triple-digit growth rates over the past several years and expects that its software will serve as an indispensable tool to drive massive efficiencies for commercial service and project-oriented trade contractors for years to come.

“I have witnessed the construction and commercial contractor industry transform as a result of emerging technologies, just as I did at Microsoft when I helped lead cloud strategy for Outlook & Exchange,” commented Steve Chew, BuildOps Co-founder and COO. “BuildOps is leading a new revolution in cloud-based technology meeting the unique needs of specialty contractors and I am excited to be a part of it.”

This sentiment is echoed by Liquid 2 Ventures managing partner and former National Football League superstar, Joe Montana.

“Liquid 2 Ventures has an investment thesis in supporting America’s working class and I just love the idea of making their lives far easier and better,” said Montana. “You have one solution that does it all and talks seamlessly to every single part of their business from parts to ordering to inventory and more. There are very few world-class technology solutions for commercial subcontractors like BuildOps and we believe in the leadership.”

“BuildOps’ exponential trajectory validates the extraordinary need for a modern, cloud-based solution built for the commercial contractor,” said Next47’s General Partner Matthew Cowan.  “Before BuildOps, commercial contractors didn’t have great options for software to run the entirety of their business in a robust manner. We are beyond excited to have an opportunity to work with and serve those that keep this country running through BuildOps’ best-in-class technology. Alok, Steve, and the incredible team at BuildOps are truly solving large-scale, real-world challenges and we could not be prouder to be supporting them in this extraordinary endeavor.”

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ET Bureau

The Enterprise talk Bureau has five well-trained writers and journalists, well versed in B2B enterprise technology industry, and constantly in touch with industry leaders for the latest trends, opinions, and other inputs- to bring you the best and latest in the domain.

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