eSUB Construction Software Secures $12 Million Series B
San Diego-based company expansion will meet the demands of enterprise trade contractors
eSUB Construction Software completed a $12 million Series B funding round led by growth equity firm Catalyst Investors with participation from existing investor Revolution Ventures. The new capital will be used to scale all areas of the company and accelerate product development. As part of the investment, Catalyst Investors partner Susan Bihler joined eSUB’s Board of Directors.
eSUB delivers a mobile-first, cloud-based solution exclusively focused on the needs and workflows of subcontractors representing contractors from more than 30 trades. With eSUB, trade contractors optimize their labor in the field, share information with project stakeholders, and facilitate timely and profitable project completion. As the chosen platform for the trades, eSUB leverages its integrations with investment partner Autodesk’s BIM 360 and PlanGrid construction software, as well as construction estimating and accounting software, to deliver a streamlined project delivery workflow from design through operations, and accounting.
“eSUB takes a differentiated approach to solving the needs of the construction industry. By creating an easy-to-use, purpose-built platform, the company empowers trade contractors to have their own system of record and productivity optimization solutions,” said Bihler. “We’re excited to be part of this next stage of growth.”
Construction technology is surging with more than 3,000 different applications and investments in the sector reaching nearly $3.1 billion in 2018. However, many construction solutions are developed for owners, designers or general contractors to manage their construction projects, not the trade contractors who represent over $1.1 trillion in construction volume, according to the IBIS World Report. Trade contractors perform the majority of the labor on large-scale construction projects and accurately tracking their work in the field can make or break profits.
“Trade contractors are the lifeblood of the construction industry,” says Wendy Rogers, founder and CEO of eSUB. “They are the true builders who construct commercial construction projects. However, they are underserved by the majority of disjointed point solutions in the marketplace and are forced to utilize systems that are developed for general contractors. Through this new partnership with Catalyst Investors, eSUB is well-positioned to continue our growth and strengthen our product offerings to address the specific needs and workflow requirements of trade contractors.”
"eSUB has demonstrated tremendous success in addressing the needs of the enormous trade contractor market. They found and capitalized on a clear opportunity to service the needs of a portion of the industry that was not yet adequately served by technology,” said David Golden, Managing Partner, Revolution Ventures. “We are excited to further our partnership with them as they help trade contractors save time and increase profits.”