As lawmakers debate the Biden administration’s infrastructure proposal, a Denver-based construction software company is gearing up with a new round of funding.
Assignar, a cloud-based construction operations platform, today announced that it has raised $20 million in Series B funding. The round was led by Fifth Wall, a venture capital firm focused on technology for the global real estate industry, with a repeat investment from Tola Capital and a new investment from Ironspring Ventures.
Assignar’s platform is built for self-perform general and subcontractors on public and private infrastructure projects. It helps schedule and tracks crews and equipment, improves quality and safety and measures productivity on projects.
The company, which relocated to Denver in 2017 from Australia, is currently working with hundreds of international customers, in markets including the U.S., Australia, New Zealand and Canada. In those markets, Assignar is supporting projects in infrastructure, road, rail, utilities and more.
"We recognize that our customers will serve the demands of the infrastructure investments being planned across the United States, Canada, Australia and other markets,” Sean McCreanor, CEO and co-founder of Assignar, said in a statement. “We'll be there to help them identify how to scale, investing more deeply in our platform and insights with this fundraise.”
With this new capital, Assignar plans to grow its business in North America and double its team by hiring for roles across all departments. Currently, Assignar employs 13 staff members in its Denver office. The company previously raised a $6.2 million round in October 2018.
The company also plans to invest in product development of its core platform, focused primarily on a new feature that creates project visibility from the owner to the subcontractors.
"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, in a statement.
In 2019, Assignar was a category winner for the Denver Business Journal Small Business awards.
