PinPoint Analytics, a Manalapan, NJ-based startup providing artificial intelligence (AI) to streamline the road construction industry’s bidding and estimating process, raised $3.2M in Seed funding.
The round was led by HG Ventures, with participation from ComposeVC.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Jim Carr, PinPoint Analytics provides an artificial intelligence-driven platform that improves construction data management and analysis. By leveraging machine learning algorithms, it analyzes vast quantities of data, enabling general contractors in the public construction sector to improve their decision making processes. The PinPoint Analytics platform analyzes and makes recommendations based on variables including materials, labor, equipment, supply chain logistics, and competitor analysis, automatically adjusting for seasonality, geography, and market conditions.
Additionally, the system empowers municipalities to establish accurate budgets for their projects, minimizing financial risks and avoiding the need for costly re-bidding procedures.
FinSMEs
17/09/2024