DigiBuild Analysis: $4M Raised
What is DigiBuild?
DigiBuild provides material management and procurement software for construction teams. Its DigiProcure product automates finding, ordering, tracking, and managing materials across projects, while highlighting predictive scheduling and audit trails. The company says it serves general contractors, subcontractors, and suppliers in the construction supply chain.
Location
1000 Brickell Avenue, Suite 715, Miami, Florida 33131, United States
Employees
11-50
Founded
2018
Revenue
$4.4M
Product Features & Capabilities
- DigiProcure: material management and procurement software, automates finding, ordering, tracking materials, reduces labor hours, saves money on materials, predictive scheduling tools, single dashboard for transaction visibility, material takeoff, free quotes from suppliers, streamlines payments and contracts, captures procurement data
- DigiEndeavour: project management software, enhances collaboration, tracks project progress, integrates with procurement tools, provides real-time updates, improves communication among teams.
Pricing
- Builders pay a standard procurement rate of 2-5% on materials procured.
- Traditional subcontractors mark materials up 20-40%.
- DigiBuild offers savings of 10-15% per scope through project management.
- Value engineering options for materials provide additional savings.
How much DigiBuild raised
1 - $4 Million
July 25, 2022Lead Investor: Y Combinator, Draper Associates, Harvard University, Picus Capital, Bluefield Capital, Cathexis Ventures, MH Carnegie
Who are the founders of DigiBuild
RS
Investors
- Y Combinator
- Draper Associates
- Aria Emiko
- Blue Field Capital
- Build Technologies
- Cathexis Ventures
- Chain
- Network.VC
Market Focus
DigiBuild primarily focuses on the construction industry, specifically providing material management and procurement software to automate and streamline the construction supply chain.
Business Model
SaaS model with monthly fees and a percentage of supplier sales revenue.
Competitors Overview
DigiBuild's main competitors in the construction supply chain management software market include:
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Kojo: Specializes in construction material management software, providing a comprehensive solution for planning and purchasing. Kojo's focus on material management may offer advantages in optimizing supply chain processes.
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Procore: Develops cloud-based construction management software that encompasses various aspects of construction projects, including preconstruction, project execution, and workforce management. Procore's extensive features and established market presence may provide a more integrated solution for larger construction firms.
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TonicDM: Focuses on project information management specifically for architecture and engineering firms, offering cloud-based solutions that automate email filing and streamline project workflows. This specialization may give TonicDM an edge in serving the needs of architecture and engineering firms more effectively than broader platforms.
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Digital Designs: Generates approximately $5.5 million in revenue with 22 employees, indicating a smaller scale compared to DigiBuild.
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Intellichief: Has a revenue of $9.2 million and 44 employees, suggesting a more established presence in the market.
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Backstop Solutions Group: Reports an estimated revenue of $29.1 million with 208 employees, indicating a significant scale compared to DigiBuild.
DigiBuild, with its focus on automating and streamlining the construction supply chain, may have a unique selling proposition through its use of advanced technologies, potentially providing it with a competitive edge in efficiency and risk management.
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