Category: cloud based software

Construction tech upstart Assignar adds a Fifth Wall with $20M Series B



Construction technology may not be the sexiest of industries, but it is one where tremendous opportunity lies — considering it has historically lagged in productivity. And, lags in productivity means project delays, which typically costs everyone involved more time and more money.

There are a number of larger players in the space (think Procore, PlanGrid and Autodesk) that are tackling the problems from the perspective of the general contractor. But when it comes to the subcontractors that are hired by the general contractor to do 95% of the work, the pickings are few and far between.

Enter Assignar, a cloud-based construction tech startup that was originally born in Australia and is now based in Denver, Colorado. Co-founder and CEO Sean McCreanor was a contractor himself for many years, and grew frustrated with the lack of offerings available to him. So, as in the case of many founders, he set out to create the technology he wished existed.

And today, Assignar has raised $20 million in a Series B funding round led by real estate tech-focused venture firm Fifth Wall. 

Existing backer Tola Capital and new investor Ironspring Ventures also put money in the round, which brings Assignar’s total raised since its 2014 inception to $31 million.

“I had 100 crews and workers out in the field, lots of heavy equipment and project work, and was running the entire business on spreadsheets and whiteboards,” McCreanor recalls. “With Assignar, we essentially help the office connect to the field and vice versa.”

(Read more...)

From bootstrapped to a $2.1B valuation, ReCharge raises $227M for subscription management platform



ReCharge, a provider of subscription management software for e-commerce, announced today that it has raised $227 million in a Series B growth round at a $2.1 billion valuation. 

Summit Partners, ICONIQ Growth and Bain Capital Ventures provided the capital.

Notably, Santa Monica, California-based ReCharge was bootstrapped for several years before raising $50 million in a previously undisclosed Series A from Summit Partners in January of 2020. And, it’s currently cash flow positive, according to company execs. With this round, ReCharge has raised a total of $277 million in funding.

Over the years, the company’s SaaS platform has evolved from a subscription billing/payments platform to include a broader set of offerings aimed at helping e-commerce businesses boost revenues and cut operating costs.

Specifically, ReCharge’s cloud-based software is designed to give e-commerce merchants a way to offer and manage subscriptions for physical products. It also aims to help these brands, primarily direct to consumer companies, grow by providing them with ways to “easily” add subscription offerings to their business with the goal of turning one-time purchasers “into loyal, repeat customers.”

The company has some impressive growth metrics, no doubt in part driven by the COVID-19 pandemic’s push to all things digital. ReCharge’s ARR grew 146% in 2020, while revenue grew over 136% over the same period, according to co-founder and CEO Oisin O’Connor, although he declined to reveal hard numbers. The startup has 15,000 customers and 20 million subscribers across 180 countries on its platform. Customers include Harry’s, Oatly, Fiji (Read more...)

Dixa acquires Elevio, the ‘knowledge management’ platform helping brands improve customer support



Dixa, the Danish customer support platform promising more personalised customer support, has acquired Melbourne-based “knowledge management” SaaS Elevio to bolster its product and technology offerings.

The deal is said to be worth around $15 million, in a combination of cash and Dixa shares. This sees Elevio’s own VC investors exit, and Elevio’s founders and employees incentivised as part of the Dixa family, according to Dixa co-founder and CEO, Mads Fosselius.

“We have looked at many partners within this space over the years and ultimately decided to partner with Elevio as they have what we believe is the best solution in the market,” he tells me. “Dixa and Elevio have worked together since 2019 on several customers and great brands through a strong and tight integration between the two platforms. Dixa has also used Elevio’s products internally and to support our own customers for self service, knowledge base and help center”.

Fosselius says that this “close partnership, strong integration, unique tech” and a growing number of mutual customers eventually led to a discussion late last year, and the two companies decided to go on a journey together to “disrupt the world of customer service”.

“The acquisition comes with many interesting opportunities but it has been driven by a product/tech focus and is highly product and platform strategic for us,” he explains. “We long ago acknowledged that they have the best knowledge product in the market. We could have built our own knowledge management system but with such a strong product (Read more...)