Construction Software Co. Raises $5 Million in Series A Round

Source: SDBJ.com, By Sarah De Crescenzo - Thursday, December 22, 2016

San Diego startup eSUB Construction Software has raised $5 million in a Series A financing from Washington, D.C.-based firm Revolution Ventures, the company announced this week.

ESUB’s mobile and cloud-based project management tools are used by construction subcontractors.

Industry veteran Wendy Rogers, CEO, launched the software platform to help subcontractors reduce costs by more effectively tracking their labor in the field. Rogers said subcontractors use the software to document the changes that occur, which helps ensure they are paid for the extra work.

“Subcontractors don’t get paid for the work they do, they get paid for the work they document,” she said.

Bobby Ocampo, a partner at Revolution Ventures, said eSUB is “revolutionizing the enormous subcontractor market that has yet to be adequately served by technology.”

ESUB raised a $750,000 seed round in January 2015 from a trio of investors: Raymond Levitt, The Investor Group, led by Sheldon Lewis, and the Stanford Farmers Investment Club, a group of Stanford professors that make angel investments.

The San Diego startup, which said its revenues have grown by more than 400 percent since 2013, plans to use the new round of financing to hire more than 40 new employees to bolster the company’s sales, engineering, customer service and marketing efforts.