Today, Bee Partners is pleased to announce our investment in BuildingConnected.
The pre-construction phase (i.e. bidding and aggregating documents) has always been a jungle of calls, faxes, deliveries and a proverbial mountain range of paperwork, both in the form of atoms and bytes. Bidding a job with 5 sub-contractors on up to 25 different disciplines is a logistical challenge that demands the attention of dedicated teams for every project. Believe it or not, there are only a few software offerings that focus on this crucial stage of a product. Enter BuildingConnected. BuildingConnected provides collaborative software for managing pre-construction communication and connects construction professionals to help them make more profitable decisions.
We first invested over a year ago, and have been waiting patiently to announce, given our excitement about this company. Bee Partners’ belief in backing ‘Founders with Deep Market Insights’ was at the core of our decision to support founders Dustin DeVan and Jesse Pedersen. Each has experience in construction project management, and together they have executed towards delivering elegance into an incredibly complex system.
Since we first invested in early 2014, Dustin & Jesse have built an application that is now deployed by Turner Construction, one of the largest general contractors in the United States, along with 250 other GCs, thousands of sub contractors and tens of thousands of users. Over $10 billion of project bidding takes place on BC’s platform every month. Month after month, their metrics have improved since investment, due in large part to the team’s deep knowledge of the customer and their ability to execute and the speed at which they deploy additional features.
The company recently announced a Series A capital infusion with Crosslink Capital to fuel further growth, and they’ve since been written up in various industry rags. Along with co-investors Homebrew and Freestyle, we celebrate this important milestone and anticipate many more to come as the company expands its offering.