Ediphi Announces $12M in Series A Funding

Ediphi, a Boston, MA-based provider of an advanced cloud-based estimating solution, raised $12M in Series A funding.

The round was led by  Norwest Venture Partners.

The company intends to use the funds to expand its team, invest in product innovation through research and development, and grow its market share within the industry.

Led by CEO Dustin DeVan, Ediphi provides advanced cloud-based estimating software. Contractors use its platform to streamline preconstruction and improve decision making processes, ensuring they guide clients to the right target value design. The company leverages cloud infrastructure to ensure data accessibility across workflows—from estimating to procurement and risk management.

The cloud-based estimating solution generates informative estimates with minimal project inputs using a rich cloud database of scope and historical cost data. Contractors can:

  • Centralize data in the cloud—with an internet connection and a browser
  • Drive conceptual, detailed cost estimates, general conditions and requirements, and buy-out
  • Connect preconstruction workflows in a single location, and
  • Accelerate preconstruction and win more profitable work

Commenting on the news, Dustin DeVan said: “Our mission is to empower the people who plan the built world. This funding further validates our efforts and will allow us to build our team and invest more in research and development.”