Autodesk leads latest investment round in Canadian construction tech start-up Bridgit
Software / Hardware
A Canadian tech start-up that makes workforce planning software designed specifically for contractors closed out a US$7 million funding round July 14.
Kitchener, Ont.-based Bridgit said the capital injection will help it scale up and build more features into its platform.
“With construction recently restricted and projects delayed, contractors have needed to shift their processes and are demanding the workforce data and insights that Bridgit provides,” Mallorie Brodie, the company’s CEO and co-founder, said in a release. “The new funding will allow us to empower contractors to use their resources effectively, build more efficiently, and with Autodesk, have a more complete picture of people and projects across their organization.”
U.S. software firm Autodesk, which offers a range of software tools for engineering and construction, led the strategic investment round. Several of the Ontario tech firm’s existing investors — Export Development Canada (EDC), Business Development Bank of Canada (BDC), Salesforce Ventures, Sands Capital and StandUp Ventures — also participated.
Bridgit’s flagship product, known an Bench, helps contractors modernize workforce and project planning by replacing spreadsheets. It gives managers a real-time view of what resources and personnel they have at their disposal.
Jim Lynch, vice-president and general manager at Autodesk Construction Solutions, said Bridgit’s strong growth “underscores the value of connecting people and data across the entire building lifecycle.”
“Planning and managing resources for construction projects is difficult in the best conditions, and today’s work environment creates even greater challenges,” Lynch, said in a release. “Bridgit gives contractors greater visibility and control by providing them with the actionable insights they need to optimize resources for project success and long-term business resiliency.”
Since April, Bridgit said it has experienced a 72 per cent jump in usage among its customer base. The increase mirrors a wider trend in the construction industry during the COVID-19 pandemic, with contractors showing greater willingness to turn to new software tools.