Software improvement firms tackling companies for area of interest industries, like business actual property subcontracting, proceed to search out Los Angeles to be fertile floor for improvement.
The newest firm to lift funding from a clutch of buyers is BuildOps, which raised $5.eight million in seed financing from some large names within the Los Angeles tech ecosystem.
Led by Fika Ventures, with extra investments from MetaProp VC, Global Founders Capital, CrossCut Ventures, TenOneTen, IGSB, 1984 Ventures, L2 Ventures, GroundUp, NBA all-star Metta World Peace, Oberndorf Enterprises, Wolfson Group and scouts from Sequoia Capital, the brand new financing shall be used to assist the corporate’s continued development.
BuildOps sells software program that integrates scheduling, dispatching, stock administration, contracts, workflow and accounting right into a single software program bundle for business actual property contractors with employees starting from a couple of dozen to a number of hundred workers.
Software for the service trade is nothing new for Los Angeles entrepreneurs. The unicorn ServiceTitan hails from the larger Los Angeles space and a lot of different software program as a service companies are calling the larger Los Angeles space house.
It’s laborious to argue with the dimensions of the business development market. Over the previous three years, business development spending grew from $626 billion to $807 billion, in accordance with information offered by the corporate. And whereas most massive distributors — architects, common contractors and property administration firms — have some undertaking administration software program, the fragmented group of subcontractors that present companies to these prospects has remained immune to adopting new applied sciences, the corporate mentioned.
The agency was co-founded by former ServiceTitan developer Neeraj Mittal; Microsoft, Nextag, Swurv and Fundly former government Steve Chew; and Alok Chanani, who beforehand based a business actual property firm and was a former commander of a transportation unit of the Army in Iraq.
“At BuildOps, we are on a mission to bring a true all-in-one solution on the latest technology to the people who keep America’s hospitals, power plants and commercial real estate running. We are privileged to be working closely with some of the country’s top commercial contractors,” mentioned Chanani.
That sentiment is echoed by Liquid 2 Ventures managing accomplice and former National Football League celebrity, Joe Montana .
“Liquid 2 Ventures has an investment thesis in supporting America’s working class and I just love the idea of making their lives far easier and better. You have one solution that does it all and talks seamlessly to every single part of their business from parts to ordering to inventory and more,” mentioned Montana in a press release. “There are very few world-class technology solutions for commercial subcontractors like this and we believe in the founders.”
