Contech Startup TrueBuilt Closes $4M Seed Round
Summary
TrueBuilt, a construction tech startup focused on providing pre-construction software for major commercial builders, announced Thursday that it has closed a $4 million seed round. Also participating was Fifth Wall, the Los Angeles-based proptech venture capital fund, and Houston-based Marek, a leading construction firm and TrueBuilt customer. The company says the funds from the round will be used to advance the capabilities of “TB Assistant,” TrueBuilt’s AI-based tool for pre-construction estimates, as well as to further expand its customer base. “Pre-construction is the process of identifying and quantifying the amount of materials, equipment and labor needed to complete a project,” said Jon Sibley, founder and CEO at Huntington Beach, Calif.-based TrueBuilt, which was founded in 2022. We don’t want it to fully replace the workflow of an estimator, we just want it to enhance it.” Having earned an MBA from the University of Southern California during COVID, and looking to start his own company, Sibley began to study various industries that had been affected by pandemic-driven supply chain, pricing, and volatility issues.