Dive Brief:
- Fieldwire, a San Francisco-based startup offering mobile and web platform services for construction projects, announced Tuesday it has secured $6.6 million in series A financing.
- Major investors, led by venture capital firm Formation 8, also included BloombergBeta, Trinity Ventures and AngelPad. The company has now raised a total of $7.7 million.
- Tanguy Chau, of Formation 8, will now join the board of Fieldwire — founded in 2013 by Stanford and MIT alums Yves Frinault and Javed Singha.
Dive Insight:
Technology — especially the use of apps on mobile devices — has become increasingly important in the construction industry. AEC professionals are finding ways to use new technological advancements to improve document access and markup, sharing and collaboration, BIM viewing and updating, and more.
Fieldwire's platform has already been used on more than 35,000 projects and "saved the construction industry millions of dollars in inefficiency," the company said in a press release.
Earlier this month, PlanGrid, a digital blueprint startup, announced it raised $18 million in series A funding. During its initial 2012 funding round, PlanGrid secured $1.5 million from Google Ventures, 500 Startups, Gmail founder Paul Buchheit, current Y Combinator President Sam Altman, and more.
The recent influx of major funding rounds and significant investor interest for construction app startups could signal a greater awareness of the need for new technological advancements to better streamline projects, and avoid overruns and delays.
