Outbuild’s recent $11 million Series A funding round stands as a pivotal moment for the construction tech sector. Led by Sway Ventures, with backing from notable players like Hilti Venture and Trimble Ventures, this investment is set to propel Outbuild into a new era of growth and innovation. With the construction industry grappling with a staggering 75% of projects facing delays, the urgency for effective scheduling solutions has never been more pronounced. Outbuild aims to tackle this issue head-on by streamlining project management through a unified platform that integrates scheduling, lookaheads, and analytics.
Franco Giaquinto, the CEO of Outbuild, articulated the company’s vision: delivering improved project outcomes for construction professionals by simplifying the scheduling process and enhancing cross-team collaboration. This investment not only signifies a financial boost but also validates Outbuild’s mission to address the persistent challenges of keeping projects on track and within budget. With the infusion of capital, the company plans to double its commercial growth by Fall 2025 and expand its team to support this ambitious trajectory.
The construction sector has long been plagued by inefficiencies and miscommunications, leading to costly overruns and delays. Outbuild’s platform directly confronts these issues by consolidating various planning elements into a single, cohesive tool. As Brian Nugent from Sway Ventures noted, this approach has the potential to fundamentally transform project planning and execution in the industry.
What sets Outbuild apart is its commitment to utilizing artificial intelligence to enhance real-time project planning. As construction becomes increasingly complex, the need for sophisticated tools that can adapt to changing conditions is paramount. Outbuild’s focus on Last Planner® principles ensures that teams can collaborate effectively while maintaining a clear view of project timelines and deliverables. This integration of advanced functionalities, combined with the insights from industry leaders like Hilti and Trimble, positions Outbuild to be a game-changer in the construction tech landscape.
The platform is already making waves, with implementation across over 4,000 projects in ten countries. General contractors such as Greystar and Skender are leveraging Outbuild’s capabilities to improve their operational efficiency. Ben Stocker, Senior Construction Technologist at Skender, emphasized the importance of having a tool that integrates schedules and lookahead plans, noting the convenience of mobile access for sharing information among team members.
As the construction industry continues to evolve, Outbuild’s advancements could herald a new standard for project management software. The backing from seasoned venture capital firms not only provides the necessary resources for growth but also brings invaluable expertise in scaling technology solutions. As Outbuild embarks on this ambitious journey, the construction industry should brace itself for a shift in how projects are planned and executed, potentially leading to more timely and cost-effective outcomes. The implications of this investment extend beyond mere financial metrics; they signal a broader transformation in an industry ready to embrace change.
