Beti Announces $11 Million Strategic Growth Investment Led By PSG | PSG
Summary
Investment aims to accelerate U.S. expansion and support product growth for new and existing customersTEL AVIV, Israel - Beti, a cloud-based construction site management software specializing in safety, labor management and quality assurance solutions, which aim to boost onsite productivity, today announced an $11 million strategic growth investment round led by PSG, a leading growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth, with participation from 97212 Ventures.Founded in 2018 in Tel Aviv, Beti provides construction developers and general contractors with a one-stop-shop solution for site management that assists them in addressing on-site safety and compliance issues, while simultaneously working to improve on-site efficiencies and boost productivity. Following the opening of the companys first U.S. office in Brooklyn, New York this year, Beti plans to accelerate a growth strategy that focuses on expanding into other key East Coast cities, including Philadelphia and Miami as well as business hubs across New Jersey and Connecticut.As the construction industry becomes increasingly focused on improving safety practices and optimizing efficiency, we are continuing to advance our mission to help customers ensure a culture of safety and operational compliance on construction sites, said Beti Co-Founder and CEO Omer Slavin. Based on cutting-edge Israeli technology, Beti aims to save time and money allowing its customers to access, manage, and oversee their projects in every aspect, from nearly any device. Beti was founded in 2018 after its cofounders met while serving in an elite unit of the IDF and bonded over a shared passion for real estate and construction. Having backed more than 115 companies and facilitated over 420 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams.