Brigit raises $24M in Series B funding
Toronto-based construction technology firm Bridgit announced on October 26 that it has raised $24 million in Series B funding.
Company founders Chief Executive Officer Mallorie Brodie and Chief Operating Officer Lauren Lake say the firm will use the money to further build out its team. The company has doubled in size since it secured Series A funding in 2020.
Bridgit also announced it is adding two members to its executive team and two new board members. Amy Abascal, formerly of Aconex and Oracle Primavera, joins as Vice President of Marketing and Jason Fitzpatrick, formerly of Intelex, joins as Senior Vice President of Sales. The company’s new board members are Arun Penmetsa, Partner at Storm Ventures and Mitchell Schear, Executive Partner at Camber Creek.
“When we went on the hunt to solve the industry’s next challenge, my co-founder and I spoke with hundreds of contractors and construction executives to understand how technology could make them more successful. Clear themes emerged, including more strategic workforce planning, the need to forecast future staffing demands, and collaborative access to people and project data,” said Brodie. “In just over two years since launching, we’ve experienced a staggering rate of adoption by North America’s biggest general contractors like Skanska, Balfour Beatty, and Ryan Companies, among others. This Series B funding round will fuel rapid product development and aggressive hiring, so we can continue to bring innovative solutions to the forefront of the construction industry.”
This latest funding round was co-led by Camber Creek and Storm Ventures. Additional investors include Nine Four Ventures, along with existing investors BDC Capital’s Women in Technology Venture Fund, StandUp Ventures, Sands Capital and Vanedge Capital.
Bridgit’s company’s flagship solution, Bridgit Bench, is a cloud-based platform that helps general contractors plan and grow their workforce, leverage project data to improve bidding and staffing decisions, and forecast project pipelines to increase productivity and profitability.
After launching Bridgit Bench in 2019, the company has scaled significantly. Since its last funding round, it has hired 39 new employees for a total of 83, and is currently hiring for 16 more positions.
It has also onboarded 58 new customers, which include Clayco, The Walsh Group, and Hoffman Construction, with enterprise-wide agreements signed with Skanska, Ryan Companies, and Alberici-Flintco. The company is now partnered with more than 16 percent of the Engineering News-Record’s Top 400 Contractors — the largest contractors in the U.S. based on revenue.
“As a leading general contractor in Texas, our goal is to consistently deliver high-quality buildings in a variety of market sectors, while exceeding the most demanding expectations,” said Johnathon Grammer, Director of Operational Excellence at Rogers-O’Brien Construction. “Bridgit gives us the ability to put the right people on the right jobs at the right time. This gives us a distinct competitive edge by allowing us to put our best teams forward, while pursuing and winning bids on projects where we are positioned to be most successful.”
Additionally, Bridgit has released 33 new features and announced 16 integrations with companies such as Procore and Autodesk, with plans for many more in the future.
Featured image: Bridgit founders Mallorie Brodie and Lauren Lake. (Bridgit)