Hey tech enthusiasts, it’s Hailey from 97212 ventures. Today, I’m thrilled to share an exciting development in the tech and construction space that’s making waves.
Let’s talk about BiltOn, a remarkable platform that’s transforming how construction sites operate.
Founded by a group of former elite Sayeret Matkal officers, BiltOn has just secured an impressive fifteen million dollars in a Series B funding round.
This investment was led by PSG Equity, with contributions from Titan Capital and 97212 Ventures.
So, what exactly does BiltOn do? Well, they’ve created a platform that empowers construction companies to digitally manage their workforce, safety protocols, tasks, and the entire construction process, right through to delivery and warranty phases.
This is a game changer for the industry! Unlike many startups that focus solely on international markets, BiltOn has established a strong foothold in Israel.
They’re already working with major local clients like Shapir Engineering and Solel Boneh, and they’re collaborating with the Israel Builders Association.
In fact, they now cover a staggering seventy percent of the Israeli construction market and are gearing up for further expansion into the U.S.
BiltOn’s impact is significant.
They’ve been implemented in over one thousand two hundred companies and are operational across more than three thousand worksites worldwide, spanning residential, industrial, commercial, healthcare, and infrastructure projects.
Since their last funding round in 2022, where they raised eleven million dollars, they’ve seen their Annual Recurring Revenue soar by twenty times in the U.S. market.
Leading construction firms like Consigli and Rudin have adopted their platform, showcasing its effectiveness.
Originally founded as Beti in two thousand eighteen by Omer Slavin, who is not only the CEO but also a fourth-generation contractor, along with his co-founders Shir Mautner, Dekel Schwarzmann, and Asaf Guter, BiltOn started with a focus on safety.
However, they’ve since expanded their offerings to encompass all aspects of construction process management, leading to their rebranding as BiltOn.
Currently, the company employs ninety talented individuals in both Israel and the U.S., and they’re looking to grow their development teams following this latest funding round.
Now, here’s something that really stands out: a study conducted by the Israeli Ministry of Labor found that the risk of fatal accidents on construction sites using the BiltOn platform has been reduced by threefold.
This is a huge win for safety, leading to fewer accidents, lower insurance claims, and ultimately, a more secure working environment.
Their innovative algorithm processes safety and quality data in real-time, providing users with risk levels that help manage site safety and quality effectively.
Ronen Nir, Managing Director at PSG Equity, mentioned that they’re doubling down on their investment in BiltOn, especially with the company’s expansion in the U.S.
This funding will accelerate their deployment among construction companies across the country.
So, there you have it! BiltOn is not just a startup; it’s a beacon of innovation in the construction industry, and I can’t wait to see how they continue to evolve and make an impact.
Stay tuned for more insights into the future of tech and storytelling!
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