BuildOps rakes in $5.8 mln

BuildOps, a provider of a field service and business process software platform for small and medium-sized subcontractors in the commercial real estate industry, has secured $5.8 million in seed funding. BuildOps’ investors include Fika Ventures, MetaProp VC, Global Founders Capital, CrossCut Ventures, TenOneTen, IGSB, 1984 Ventures, L2 Ventures, GroundUp and Wolfson Group.

PRESS RELEASE

SANTA MONICA, CA (Friday, November 1, 2019) – BuildOps, a venture-backed startup that provides an all-in-one field service and business process software platform for small and medium-sized subcontractors in the commercial real estate industry, raised $5.8M in two tranches of their seed round. The fast-growing BuildOps simplifies and integrates common and often complex tasks, such as scheduling, dispatch, inventory, agreements, gated workflows, accounting, and more into one easy-to-use software package for commercial real estate service contractors whose firms have anywhere from a couple of dozen to several hundred field technicians.

BuildOps’ investors are led by Fika ventures, MetaProp VC, Global Founders Capital, CrossCut Ventures, TenOneTen, IGSB, 1984 Ventures, L2 Ventures (Joe Montana’s venture capital firm), GroundUp, NBA veteran Metta World Peace, Oberndorf enterprises, Wolfson Group, and Sequoia scouts.
From 2015 to 2018, commercial construction spending grew from $626 billion to $807 billion. While most large general contractors, architects, and property owners have already adopted some form of project management software, the subcontractor market has been overlooked and, to date, offers few options. BuildOps fills the Software as a Service (SaaS) software for subcontractors by providing them with real-time information and data collection for all of their project needs, thereby increasing their efficiency and effectiveness. Truly world-class software for subcontractors was nearly non-existent despite the pivotal role they play in powering critical care facilities around the country.

This is the need BuildOps meets.
BuildOps’ path-breaking software for commercial subcontractors provides seamless communication between a firm’s field technicians and back office. Gated workflows ensure technicians are always on track and never forget a step while on the job. Filling out simple safety forms right before clocking in – all completed in a few seconds on the app – ensures both technicians and owners are protected. All communication between technicians and the back office happen in real-time, whether it’s instant messaging or email, and are stored and easily searchable in the platform.

BuildOps was co-founded by Alok Chanani, Steve Chew and Neeraj Mittal. With over 20 years of software experience, Neeraj Mittal, BuildOps’ Chief Technology Officer, was Chief Architect and Senior Director of Engineering at many successful tech start-ups and is reputed to be one of the best SaaS architects in the country. Mittal began coding at age nine, and incredibly, built his own all-in-one software solution for his father’s large contracting business in India in the 1990s. Mittal has truly come back to his early roots. Steve Chew, Chief Operating Officer, came to BuildOps from Microsoft, Nextag, Swurv, and Fundly. Chew was a Stanford Engineer and Harvard Business School graduate. He comes to BuildOps after leading product at Outlook/Exchange at Microsoft for five years and helping lead European operations at Nextag that sold for $1.2 billion. CEO, Alok Chanani has degrees from Cornell and Wharton and served in the U.S. Army as a combat engineer, infantry platoon leader, and Commanded a unit of 25 Soldiers in Iraq responsible for transporting hundreds of millions of dollars in cash throughout the country. Chanani then built a national commercial real estate company where he focused heavily on construction working closely with subcontractors for seven years.

“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,” said Chanani.
Legendary quarterback and Managing Partner of Liquid 2 Ventures, Joe Montana is taking his leadership skills from the football field to the startup world, with hopes of improving the lives of blue-collar workers through BuildOps. “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. There are very few world-class technology solutions for commercial subcontractors like this and we believe in the founders,” Montana states.

About BuildOps
BuildOps is a venture-backed startup that provides an all-in-one field service and business process software platform for small and medium-sized subcontractors in the commercial real estate industry.

About MetaProp VC
MetaProp is a New York-based venture capital firm focused on the real estate technology (“PropTech”) industry. Founded in 2015, MetaProp’s investment team has invested in 100+ technology companies across the real estate value chain.  The firm manages multiple investment funds for both financial and strategic real estate investors representing a pilot- and test-ready sandbox of 15+ billion square feet across every real estate asset type and global market. The firm’s investment activities are complemented by pioneering community leadership including the PropTech Place innovation hub, MetaProp Accelerator at Columbia University programs, global events NYC Real Estate Tech Week and MIPIM PropTech NYC, and publications Global PropTech Confidence Index and PropTech 101.