What is Built?
Founded in 2014 and headquartered in Nashville, Tennessee, Built is an enterprise technology company dedicated to making construction lending safer and more efficient. Its web-based collaboration software digitizes the draw management process, aiming to mitigate construction loan risks, enhance loan profitability, improve the borrower experience, and streamline compliance. The company operates within the burgeoning PropTech and construction technology markets, leveraging technology to address inefficiencies in traditional lending practices.
How much funding has Built raised?
Built has raised a total of $266.6M across 5 funding rounds:
Series A
$20.6M
Series B
$31M
Debt
$2M
Series C
$88M
Series D
$125M
Series A (2017): $20.6M with participation from Index Ventures and NYCA
Series B (2019): $31M led by Index Ventures, Canapi Ventures, Regions, Nine Four Ventures, Goldman Sachs Investment Partners, and Nyca Partners
Debt (2020): $2M supported by PPP
Series C (2021): $88M featuring The Goldman Sachs Group, Inc., Index Ventures LLP, Nine Four Ventures, Addition, Nyca Partners, Canapi Inc., and Fifth Wall
Series D (2021): $125M backed by XYZ Venture Capital, Technology Crossover Ventures, Brookfield Technology Partners, Highsage Ventures, and 9Yards Capital
Key Investors in Built
Index Ventures
Index Ventures is a venture firm investing in the next generation of entrepreneurs from seed to IPO. They partner with founders with bold dreams that challenge the status quo to build enduring companies.
Goldman Sachs Investment Partners
Goldman Sachs is a leading global investment banking, securities, and investment management firm. Known for its influential role in global capital markets, Goldman Sachs also engages in risk management, financing, and strategic advisory services worldwide.
Fifth Wall
Fifth Wall is the largest venture capital firm focused on technologies for the global real estate industry (property technology or "proptech"). They connect the world's largest owners and operators of real estate with technology entrepreneurs redefining the future of the physical environment.
What's next for Built?
With substantial enterprise-level backing, Built is poised for continued innovation and market penetration. The company's strategic focus will likely involve further development of its platform to enhance features for risk management and borrower engagement. Expansion into new markets and deepening relationships with existing financial institutions and construction firms are anticipated next steps. This sustained investment suggests a strong belief in Built's model to transform the construction lending landscape.
See full Built company page
