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 isBuildOps
[https://buildops.com/about/], which raised $5.8 million in seed financing from
some big names in the Los Angeles tech ecosystem.
Led byFika Ventures, [https://crunchbase.com/organization/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?s continued
BuildOps [https://crunchbase.com/organization/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
It?s hard to argue with the size of the commercial construction market. Over the
past three years, commercial construction spending grew from$626 billion
[https://www.constructconnect.com/blog/operating-insights/5-commercial-construction-trends-watch-2019/] , according to data provided by the company. 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, [https://crunchbase.com/organization/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?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.
That sentiment is echoed byLiquid 2 Ventures
[https://crunchbase.com/organization/liquid2-ventures]managing partner and
former National Football League superstar,Joe Montana
?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,? said Montana in a
statement. ?There are very few world-class technology solutions for commercial
subcontractors like this and we believe in the founders.?