BuildOps, a software company streamlining commercial contracting processes, recently raised $127 million in a Series C funding round, now valuing the company at $1 billion. Founded in 2018, it specializes in field service management solutions designed for contractors in HVAC, plumbing, and other mechanical services. CEO Alok Chanani emphasizes the challenges contractors face, noting the struggles against rising costs and outdated technologies. This funding gives BuildOps over $250 million total raised, reinforcing the interest and opportunities within commercial services technology.
"I talk to contractors every day [...] and they're busting their backs keeping our world running, but the deck's stacked against them with short staffs, skyrocketing costs, and tech that's stuck in the Stone Age," Chanani told TechCrunch in an interview.
BuildOps has built field service management software that helps commercial contractors in the U.S. and Canada with project management, service, dispatching, and invoicing via what it describes as 'AI-powered automation.'
The latest capital infusion brings the company's total raised to over $250 million, which demonstrates the increasing investor confidence in the commercial services tech space.
That valuation is "more than double" the valuation BuildOps reached in its last financing, showcasing significant growth and interest in improving contractor efficiency and profitability.
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