Pillar Technologies, a Boston, MA-based construction site risk management platform, secured $425k in seed funding.
Backers included 1517 Fund, Insure.VC, and angel investors Anil Jha and Sam Altschuler.
Led by Alex Schwarzkopf, Sean Iacobone and Matt Joyal, Pillar Technologies deploys on-site sensors to monitor for dangerous environmental conditions such as fire outbreaks, high humidity exposure, and mold growth which are some of the causes of revenue loss while building. With the company’s sensor-based technology, general contractors have access to real-time information and receive alerts notifying them of destructive conditions before damage occurs. In addition, predictive analytics helps drive process changes.
Pillar is expanding its testing program and will be seeking additional contractors starting in November.
FinSMEs
20/07/2016