- eSUB Construction Software announced it raised $12 million in Series B funding led by Catalyst Investors
- Existing investor Revolution Ventures also participated in this round
San Diego-based eSUB Construction Software, a leading field data collection and project management company for trade contractors, announced it has raised $12 million in Series B funding led by growth equity firm Catalyst Investors. Existing investor Revolution Ventures also participated in this round.
“Trade contractors are the lifeblood of the construction industry,” said eSUB founder and CEO Wendy Rogers. “They are the true builders who construct commercial construction projects. However, they are underserved by the majority of disjointed point solutions in the marketplace and are forced to utilize systems that are developed for general contractors. Through this new partnership with Catalyst Investors, eSUB is well-positioned to continue our growth and strengthen our product offerings to address the specific needs and workflow requirements of trade contractors.”
Construction technology has been growing with more than 3,000 different applications and investments in the sector — which is reaching nearly $3.1 billion this year. But many construction solutions have been developed for owners, designers, or general contractors for managing their construction projects rather than the trade contractors who represent over $1.1 trillion in construction volume (IBIS World Report).
What does eSUB do? The company delivers a mobile-first and cloud-based solution that is exclusively focused on the needs and workflows of subcontractors representing contractors from over 30 trades. And with eSUB, trade contractors optimize their labor in the field, share information with project stakeholders, and facilitate timely and profitable project completion.
“eSUB has demonstrated tremendous success in addressing the needs of the enormous trade contractor market. They found and capitalized on a clear opportunity to service the needs of a portion of the industry that was not yet adequately served by technology,” added Revolution Partners managing partner David Golden. “We are excited to further our partnership with them as they help trade contractors save time and increase profits.”
eSUB leverages its integrates with Autodesk’s BIM 360 and PlanGrid construction software along with construction estimating and accounting software for delivering a streamlined project delivery workflow from design through operations and accounting. Autodesk is also an investor in eSUB.
With this new round of funding, eSUB is going to scale in all areas of the company and accelerate product development. In conjunction with this round of funding, Catalyst Investors partner Susan Bihler is joining eSUB’s board.
“eSUB takes a differentiated approach to solving the needs of the construction industry. By creating an easy-to-use, purpose-built platform, the company empowers trade contractors to have their own system of record and productivity optimization solutions,” explained Bihler. “We’re excited to be part of this next stage of growth.”
