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