Condoit Secures $4.25M to Build Better Software for Electricians
Summary
Condoit announces it has closed a seed round led by The Westly Group with participation from Fontinalis Partners, Navitas Capital, C2 Ventures, Studio Management and a strategic investment by leading global wire and cable manufacturer, Southwire.BIRMINGHAM, AL / ACCESSWIRE / April 17, 2024 / Condoit, the leading platform for digitizing the electrical industry, announced today it has closed a $4.25M seed round. The funds will be used to accelerate product development, expand its national sales team, enhance customer support and success, and meet growing demand in the market. Electricians are able to use Condoits mobile app in the field on an iOS or Android device to capture photos, conduct site walks and remotely log data.It creates standardization for data collection across contractor and subcontractor networks and modernizes site feasibility assessments along with accessibility in drawings, inspections, reporting, and analysis of commercial electrical systems-replacing antiquated software and manual processes still relegated to pen and paper despite the surge of cloud-based solutions for the construction and trade industries.Condoit, launched out of the TechStars Alabama EnergyTech Accelerator in 2020, is founded by former commercial electrician Ian Hoppe, with the goal of digitally transforming the paper-based processes that plague the electrical industry and revolutionizing the way todays electricians work.Based out of Birmingham, Alabama, Hoppe has experience in all aspects of the electrical industry-from the oil fields in the Gulf of Mexico to hospital systems to sprawling data centers. "The widespread electrification of transportation, manufacturing, and the built environment is a requirement for the sake of our climate and global economy," said Jason Kalira, Partner at The Westly Group. "Southwire is committed to being a leader in jobsite efficiency and safety, and we are excited to support Condoit in their efforts to simplify and automate routine jobsite tasks," said Norman Adkins, Southwires Chief Operating Officer.At the time of this announcement, Condoit is also pleased to add two key hires to its leadership team with decades of experience in early-stage Product and Growth for B2B SaaS companies.Joining as Chief Technology Officer (CTO) is Peyton Sherwood.