Contech Firms Rake in Funding
Date Posted: July 6, 2023
Posted In: News,
From Construction Dive: It’s no secret — demand for tech solutions is rising, as contractors feel the pinch of the continued labor crisis and look for programs that can give them an edge over their competitors while saving money and time.
For contech firms, it has led to higher interest, as investors see value. Last year, contech firms received nearly $5.4 billion in funding amid a tough economic climate.
Here are five firms that have recently raised millions while providing new solutions for contractors to use on jobsites.
Curri
$42 million
Middle- and last-mile industrial delivery firm Curri raised $42 million in a Series B funding round, the company announced on June 6. Bessemer Venture Partners led the round, with participation from existing backers Initialized Capital, Brick & Mortar Ventures, Rainfall Ventures and others, according to the release.
Curri’s software platform offers end-to-end logistics services and its own fleet, according to the release. The company claims it moved over $1 billion worth of construction and industrial supplies across the U.S. last year for companies such as Ferguson, Winsupply and Sherwin-Williams.
With the funding, Curri plans to expand its sales and marketing efforts and add new features and functions to its platform.