Assignar, a Denver, CO- and and Sydney, Australia-based cloud-based construction operations platform, closed a $16.5 secondary financing round.
The round was led by Tiger Global, with participation from SecondQuarter Ventures, with participation from repeat investor Fifth Wall, and Boston-based HighSage Ventures.
The company has raised over $30 million in total funding since it was founded in 2014. In response to investor demand, this round involved buying stock which gave some early backers the opportunity to cash in some of their equity.
Founded in 2014 by Sean McCreanor and Marko Tomic, Assignar is a cloud-based construction operations platform for self-perform general and subcontractors on public and private infrastructure projects in markets like the United States, Australia, New Zealand, and Canada. The solution supports hundreds of customers working on multibillion-dollar projects in infrastructure, road, rail, heavy civil, utilities, and other construction project types and disciplines.
The platform streamlines operations and project schedules as well as tracking crews, equipment and quantities, while improving quality and safety. Assignar measures and monitors productivity and progress with real-time data directly from contractors on the project.
The company has already doubled its headcount in 2021 and continues to invest in R&D and product development to further develop its core platform. It plans to introduce an expansion in the first half of 2022 with project optimization capabilities, creating project visibility from the owner through to specialty contractors, operations, schedulers and laborers, coupled with a recommendation engine that leverages data, AI, and machine learning to support planning and execution processes.
FinSMEs
08/11/2021