Construction technology company Bridgit has announced a $24 million Series B funding round. The funding is intended to be used to build out its team, further product development activities and lay the groundwork for increasing market share.
Bridgit CEO and cofounder Mallorie Brodie mentioned her appreciation of the significant support they’ve received in a statement. “In just over two years since launching, we’ve experienced a staggering rate of adoption by North America’s biggest general contractors like Skanska, Balfour Beatty and Ryan Companies, among others. This Series B funding round will fuel rapid product development and aggressive hiring so we can continue to bring innovative solutions to the forefront of the construction industry.”
Camber Creek and Storm Ventures, who co-led the round of funding, are confident in the prospects. “Construction technology drives massive improvements in the safety, productivity and bottom line for general contractors,” Storm Ventures partner Arun Penmetsa stated. “By transforming workforce data into actionable insights, Bridgit’s customers leverage their most important tool in their tool belts – their people – to reduce risk and maximize profit.”
Since its last funding round, Bridgit has hired 39 new employees and is currently hiring for 16 more positions.