A locally founded company that's focusing on changing the construction labor game has raised a round of institutional funding.
Buildforce, which splits its headquarters between Houston and Austin, closed its latest round of funding at $4 million. The round was led by Maryland-based TDF Ventures, with participation from existing investor Houston-based Mercury Fund and Austin-based S3 Ventures.
The company uses construction staffing and management software to more efficiently connect contractors to skilled workers across trades — electrical, mechanical, plumbing, flooring, concrete, painting, and more.
"Contractors depend on skilled and reliable tradespeople to meet project timelines," says Moody Heard, co-founder and CEO of Buildforce, in a news release. "Our key insight is that by optimizing the user experience for skilled tradespeople seeking higher pay and job security, we are able to help meet contractors' needs. We're thrilled to have become the partner of choice for the top contractors in our current markets looking to connect with this workforce."
The new funds will support the startup as it scales, grows revenue, develops its product, and more.
"The US has millions of unfilled openings for skilled tradespeople, yet consistent work remains out-of-reach for many construction professionals," says Will Rayner, principal at TDF Ventures, in the release. "Buildforce's exponential growth in 2021 is a testament to the company's ability to connect supply and demand in this difficult labor market at scale."
The company closed an earlier round of funding in April. That round was led by Mercury.