You may have heard the phrase “software eats the world” to describe the emerging necessity of every enterprise to think like a technology company. At Homebrew, we made a slight tweak to the idea: software enables the world. Maybe it’s just semantics, but for us, this signifies that many of the industries that predate the PC will navigate the disruption caused by technology by leveraging it to avoid being consumed by it. Our 2014 seed stage investment in BuildingConnected was about believing the commercial construction industry was ready to be enabled by technology.
Since that time, BuildingConnected has accomplished a lot in their efforts to help commercial General Contractors and Subcontractors navigate the pre-construction process where tens or hundreds of millions of dollars are committed to each project. Every month, another 6,000+ projects are enabled by the BuildingConnected platform, representing over $75 Billion of spend. Kinda mindblowing, right?
But there’s still much more work to be done to serve construction customers. Construction is a $10 trillion industry, representing endless opportunity to expand the range of products BuildingConnected provides to its community. To support this expansion, the company has raised an additional $22 Million from Lightspeed Venture Partners and returning existing investors, including Homebrew.
We’ve been privileged to work alongside cofounders, Dustin DeVan and Jesse Pederson, as they’ve thoughtfully built their product, team and business. We look forward to continuing as partners in their journey and to investing in more startups enabling the world.
If you’re interested in joining BuildingConnected on it’s mission, they’re hiring.