Built Technologies, a Nashville TN-based construction finance platform, raised $125M in Series D funding round that valued it at $1.5 billion.
The round was led by TCV with participation from Brookfield Technology Partners, 9Yards Capital, XYZ Venture Capital, and HighSage Ventures. They joined existing investors including Lee Fixel’s Addition, Index Ventures, Canapi Ventures, GreenPoint Partners, Nine Four Ventures, Fifth Wall, Goldman Sachs, and Nyca Partners among other individual investors.
The company intends to use the funds to accelerate the delivery of new products for property developers, home builders, and contractors, further international expansion and team growth.
Led by Chase Gilbert, CEO, Built provides cloud-based construction finance technology that connects commercial and consumer construction lenders, property developers, commercial general contractors, residential homebuilders, specialty contractors, title companies, and other critical industry vendors to improve the flow of capital through the construction ecosystem.
With Built, lenders can deploy capital into commercial and residential construction projects, and integrate with their other core systems. For commercial and residential owners, developers, and construction professionals, Built is actively developing new solutions—like compliance tracking, AP/AR automation tools, payment management and insurance services.
Since launching in 2015, the platform has been used to manage the financing of over $135 billion in construction value, spanning more than 200,000 commercial, homebuilder, land development and consumer residential projects.
FinSMEs
01/10/2021