Bridgit builds on successful construction planning software business with $24-million financing

Bridgit builds on successful construction planning software business with $24-million financing

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A Kitchener, Ontario based software startup whose workforce planning tool is being rapidly adopted by North American builders has raised $24-million led by U.S. venture capitalists.

Bridgit Inc., co-founded by CEO Mallorie Brodie and chief operating officer Lauren Lake, tapped real estate technology venture capital firm Camber Creek of Rockville, Md., and Silicon Valley’s Storm Ventures to lead the funding. Other investors in the round included Nine Four Ventures, as well as past investors StandUp Ventures, Sands Capital, Vanedge Capital and BDC Capital’s Women in Technology Venture Fund.

And in terms of overall revenue growth, Michelle Scarborough, Bridgit board member and managing partner of the BDC fund, said that “They’re punching at or above their weight.”

Bridgit stands out as a company founded and led by women in the construction industry, and they’re among others that have also had a fantastic year. Brodie stated that “[People management] is an area of the business where we’re seeing a lot of investment, but there haven’t really been tools to support the specific needs of the industry when it comes to building up their people.”