What is Built?
Founded in 2014 and headquartered in Nashville, Tennessee, Built provides a web-based collaboration software designed to digitize the construction draw management process. This platform aims to mitigate risks associated with construction loans, enhance loan profitability, improve the borrower experience, and ensure compliance. By bringing the draw management process online, Built addresses critical pain points in the construction lending ecosystem, offering a modern solution for a traditionally paper-intensive industry. The company's focus on enterprise clients highlights its scalability and commitment to serving large-scale construction finance operations.
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 Nine Four Ventures, Goldman Sachs Investment Partners, Nyca Partners, Canapi Ventures, Regions, and Index Ventures
Debt (2020): $2M supported by PPP
Series C (2021): $88M featuring Fifth Wall, The Goldman Sachs Group, Inc., Index Ventures LLP, Nine Four Ventures, Addition, Nyca Partners, and Canapi Inc.
Series D (2021): $125M backed by XYZ Venture Capital, Technology Crossover Ventures, Brookfield Technology Partners, Highsage Ventures, and 9Yards Capital
Key Investors in Built
XYZ Venture Capital
XYZ Venture Capital is a venture capital firm specializing in early-stage investments, likely focusing on disruptive technologies within the enterprise software space.
Fifth Wall
Fifth Wall is the largest venture capital firm focused on technologies for the global real estate industry (proptech), indicating a strategic interest in Built's market.
Index Ventures
Index Ventures is a global venture capital firm that invests in entrepreneurs from seed to IPO, suggesting a belief in Built's long-term growth potential.
What's next for Built?
With its latest infusion of capital, Built is poised to further enhance its platform capabilities and expand its market reach within the construction technology sector. The company's strategic focus on simplifying and securing construction lending positions it for continued expansion. Future developments are likely to include deeper integrations with existing financial and construction management systems, as well as advancements in data analytics to provide even greater insights into loan performance and risk assessment. This enterprise-level backing suggests a strong emphasis on scaling operations and solidifying its position as a leader in proptech and construction finance.
See full Built company page
