BuildingConnected raises $22 million to grow its bid procurement platform for building contractors

Founded out of San Francisco in 2012, BuildingConnected wants to streamline the pre-construction phase of building work by providing software for owners and contractors that helps them procure bids, qualify vendors, and more. The global construction market is estimated to be worth around $10 trillion, however, the building industry isn’t renowned for its efficiency, with some reports suggesting that the sector is among the lowest in terms of productivity. The startup wants to play its part in modernizing the industry by offering a network that connects thousands of U.S. construction professionals and helps them “get project bids done quickly, accurately, and with ease.” “This round of funding from top tier investors confirms our thesis that commercial construction stands to benefit from the efficiencies we create at BuildingConnected,” noted BuildingConnected founder and CEO Dustin DeVan. “We’ve already seen billions of dollars in projects move across our platform, and we continue to sign up customers at an exciting rate.” Though it may be late to the table, the building sector is gradually being digitized on multiple fronts. Other notable players in the construction management software space include Procore, which has raised around $180 million in VC cash.