‘Contractors deserve better software’ says BuildOps CEO as company secures funding

“Commercial contractors don’t get headlines. They don’t ask for recognition. But without them, everything stops.”

For too long they have been forced to work with outdated patched together systems.   

And with a mission to deliver a comprehensive, technologically advanced solution to those who maintain America’s hospitals, power plants, and commercial real estate, BuildOps was founded in Los Angeles in 2018 by Alok Chanani, Steve Chew and Neeraj Mittal.

The CEO of BuildOps Alok Chanani once said, “I talk to contractors every day-HVAC pros, plumbers, electricians-and they’re busting their backs keeping our world running, but the deck’s stacked against them with staffing shortages, skyrocketing costs, and tech that is stuck in the Stone Age,” 

The platform was built to optimize and simplify field service operations for businesses in the construction and maintenance sectors. It enables subcontractors to run their entire business on one software solution that manages their invoice and billing, scheduling, estimates, proposals, payments, workflows, custom forms, financial reporting, and more.

BuildOps utilizes a Software-as-a-Service (SaaS) model, offering per-user pricing under an annual contractual agreement.  The organization serves over 1,000 commercial contractor clientele, which include industry giants like J.H. Kelly, Haynes Mechanical, Dynamic Systems, Inc., and Baker Electric.

Their platform built AI otherwise known as OpsAI automates busywork, refines field notes, translates text, scans invoices and assets, and even assists with real-time troubleshooting.

BuildOps is transforming field service management with AI-powered automation, predictive insights, and workflow intelligence at its core. The platform enhances contractor operations by offering features like dynamic scheduling, predictive maintenance, intelligent job costing, and automated dispatching. These capabilities streamline tasks, optimize efficiency, and boost profitability by reducing downtime, improving resource allocation, and providing real-time cost insights. 

As the company invests heavily in expanding its AI team and cutting-edge technology, it sets a new standard for smarter, scalable, and more profitable operations in the contracting industry.

In 2023, BuildOps launched AI for the Trades, a collection of AI tools that will transform the way commercial contractors run their businesses. BuildOps customers can increase productivity, expand their business, and optimize their workforce by automating repetitive tasks and extracting valuable insights using AI for the Trades.

With more plans of providing reliefs to the commercial contracting industry, BuildOps has announced a whopping $127 million in a Series C round led by Meritech Capital that values the company at $1 billion post-money, turning it into Silicon Valley’s newest unicorn.

The company has secured funding from new and existing investors, including BOND and SE Ventures. Paul Madera joins the board, which includes notable members like Dick Costolo and TX Zhuo.

Paul Madera, former fighter pilot and founding partner at Meritech Capital Partners, said “We’ve spent years watching commercial contractors- the guys who keep our lights on and pipes flowing-get crushed by chaos they don’t deserve,” he continued to say “We’re leading this round because these folks build our world, and BuildOps is hell-bent on making these businesses more efficient, effective and productive.”

Even though the company had previously acquired a financing of $50 million series B round in 2023 and follow-on “top up” $36 million raise for existing investors only, according to the CEO and Co-founder Chanani. The latest round brings the company’s total capital raised to over $250 million.

This latest funding would power up more innovations leading to BuildOps utilizing AI-powered features to drive efficiency and productivity in commercial space construction and service, while expanding its reach and customer support to deliver optimal service. The platform is also committed to  continuously improving and expanding through industry partnerships and strategic opportunities, ensuring it leads innovation in the field service and construction industry.

Backed by large institutional firms including Founders Fund, Next47 (Siemens), Global Founders Capital, and other world-class institutional investors, BuildOps is establishing itself as the go-to technology partner for commercial contracting businesses in the U.S. and Canada, empowering them to achieve substantial growth and profitability.