This post is by Mary Ann Azevedo from Fundings & Exits – TechCrunch
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.”