BiltOn Secures $15 Million to Transform Construction Management
Company Expands Nationally, Enhances Suite of Platform Features
BiltOn has reached a significant milestone in the construction technology sector by successfully closing a $15 million Series B funding round. Previously operating under the name Beti, BiltOn's transformation is driven by an investment led by PSG Equity and supported by Titan Capital and 97212 Ventures. This funding will enable BiltOn to further enhance its platform, focusing on construction operations and risk management.
Strategic Leadership Addition
In a move to strengthen its advisory board, BiltOn has welcomed Jeff Wilpon, the founding partner and CEO of Sterling Project Development. His vast experience overseeing projects worth over $10 billion will undoubtedly provide valuable insights as BiltOn continues its growth trajectory.
Enhancing Platform Features
Launched in 2018, BiltOn has evolved its platform rapidly, empowering owners and general contractors to manage workforce, safety, and compliance with greater efficiency. The platform features both web and mobile accessibility, introducing innovative tools such as 3D facial recognition for workforce verification, automated time tracking, daily logs, incident reporting, and permit management. These advancements are designed to centralize data and enhance project oversight, simplifying complex regulatory requirements.
Global Expansion and Client Base
BiltOn is now supporting over 1,200 construction companies across more than 3,000 active job sites around the world. The platform caters to a vast range of construction verticals—civil, industrial, commercial, residential, and healthcare. Since entering the U.S. market, the company has grown to a dedicated team of over 70 employees, collaborating with renowned contractors such as Consigli, Rudin, Hunter Roberts, and OKO Group.
Ronen Nir, Managing Director of PSG Equity, expressed enthusiasm about the investment, emphasizing their commitment to bolstering BiltOn's presence and impact within the construction industry.
Risk Management and Compliance Solutions
BiltOn offers an extensive suite of tools geared towards improving workflow management, enhancing safety monitoring, and streamlining compliance processes. Its proprietary risk scoring system is a critical feature that provides contractors with real-time insights regarding workforce activity and project safety, thereby aiding in risk mitigation and overall project efficiency.
Omer Slavin, founder and CEO of BiltOn, highlighted the transformational potential of their technology for construction site management, allowing contractors to operate with newfound confidence.
Seamless Technology Integration
To maximize utility, BiltOn seamlessly integrates with popular construction management tools like Procore and Autodesk. Additionally, the software adheres to regulatory standards set by the New York City Department of Buildings, thus enhancing compliance in project data management. Although outcomes may vary, the technology is anticipated to lower insurance claims and improve Experience Modification Rates (EMR) for users.
About BiltOn
BiltOn is a comprehensive platform, enabling owners and general contractors to effectively manage labor, safety, and compliance challenges in construction. It guarantees jobsite adherence, automates daily work logs, and ensures compliance with safety regulations, minimizing litigation risks related to wage theft and permitting issues.
About PSG
PSG is a growth equity firm dedicated to partnering with software and technology service providers to navigate transformational growth. With over 140 companies supported, their expertise empowers businesses to capitalize on strategic opportunities and build effective teams.
Contact Information
Media Contact:
Shea Communications LLC
George Shea, (917) 584-0988
Kinsey Watson, (929) 696 4580
Frequently Asked Questions
What does the rebranding to BiltOn signify?
The rebranding from Beti to BiltOn represents a strategic shift to enhance its focus on construction operations and risk management software.
Who led the recent funding round for BiltOn?
The Series B funding round for BiltOn was led by PSG Equity, with participation from Titan Capital and 97212 Ventures.
What new features has BiltOn introduced?
BiltOn has introduced features like 3D facial recognition for workforce verification, automated time tracking, and enhanced safety compliance tools.
How many construction companies use BiltOn's platform?
BiltOn currently supports over 1,200 construction companies across more than 3,000 active job sites globally.
What advantages does BiltOn offer for risk management?
BiltOn provides a proprietary risk scoring system, real-time insights, and centralized data management to help mitigate risks on-site.
