New funding for construction tech software firm
19 May 2021
Assignar, a cloud-based construction operations platform for heavy civil and infrastructure self-perform general and subcontractors, has raised US$20 million in Series B funding.
Assignar streamlines operations, schedules and tracks crews and equipment, improves quality and safety, and measures and monitors productivity and progress with data on all projects.
The US-based company supports hundreds of international customers, in markets such as Australia, New Zealand and Canada, that are working on multibillion dollar projects in infrastructure, road, rail, heavy civil, utilities and other construction disciplines.
President Biden’s proposed Infrastructure Bill may signal an investment in infrastructure for communities across the US. However, most software solutions on the market serve general contractors in the commercial project management space.
The investment round was led by Fifth Wall, the largest venture capital firm focused on technology for the global real estate industry. With this new investment, Assignar will grow its business in North America by hiring for roles across all departments. The company also plans to invest in R&D and product development to further develop its core platform.
“For years, the construction industry has lacked a well-designed and ubiquitous operations platform. Assignar offers a unique solution that makes projects easier for large general contractors, developers, and real estate owner-operators who seek the best real-time snapshot of granular field activity,” said Vik Chawla, Partner with Fifth Wall.