INSUBCONTINENT EXCLUSIVE:
Software development companies tackling services for niche industries, like commercial real estate subcontracting, continue to find Los
Angeles to be fertile ground for development.
The latest company to raise funding from a clutch of investors is BuildOps, which raised $5.8
million in seed financing from some big names in the Los Angeles tech ecosystem.
Led by Fika Ventures, with additional 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 new financing will be used to support the company continued
growth.
BuildOps sells software that integrates scheduling, dispatching, inventory management, contracts, workflow and accounting into a
single software package for commercial real estate contractors with staff ranging from a few dozen to several hundred employees.
Software
for the service industry is nothing new for Los Angeles entrepreneurs
The unicorn ServiceTitan hails from the greater Los Angeles area and a number of other software as a service businesses are calling the
greater Los Angeles area home.
It hard to argue with the size of the commercial construction market
Over the past three years, commercial construction spending grew from $626 billion to $807 billion, according to data provided by the
And while most large vendors — architects, general contractors and property management companies — have some project management
software, the fragmented group of subcontractors that provide services to those customers has remained resistant to adopting new
technologies, the company said.
The firm was co-founded by former ServiceTitan developer Neeraj Mittal; Microsoft, Nextag, Swurv and Fundly
former executive Steve Chew; and Alok Chanani, who previously founded a commercial real estate company 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 hospitals, power plants and commercial real estate running
We are privileged to be working closely with some of the country top commercial contractors,& said Chanani.
That sentiment is echoed by
Liquid 2 Ventures managing partner and former National Football League superstar, Joe Montana .
&Liquid 2 Ventures has an investment thesis
in supporting America 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,& said Montana in a statement
&There are very few world-class technology solutions for commercial subcontractors like this and we believe in the founders.&
