Construction tech company Buildxact announced it has expanded its operations into the United States to meet growing customer demand.
The US becomes Buildxact’s third market outside Australia, having expanded its services into Canada and the New Zealand in May 2019 and October 2018, respectively.
The company is growing rapidly, reporting 100 per cent year-on-year growth, and recently raised AU$8.5 million to propel its success and growth opportunities internationally. The raise was led by Aconex co-founder Leigh Jasper, who also joined the Buildxact Board of Directors as Director of Innovation.
What does this mean for Buildxact?
David Murray, Chief Executive Officer at Buildxact said, “After testing and refining our product in Australia, we’re ready to bring our estimating and job management software to the 470,000 residential project builders in the US. The US presents an amazing growth opportunity for us, with many residential builders lacking fit-for-purpose software tools to help them run the business side of building. We’ve been in Canada for over six months now and the traction we’ve experienced in the region proves that there is strong demand for our solution. We’re excited to establish and scale our presence here, and to contribute to the success of the residential construction industry.”
The US launch was announced during the International Builders Show in Las Vegas and will give small-to-medium construction companies in the US access to Buildxact’s leading cloud platform. Buildxact helps builders keep projects on track, manage financials on the go, and schedule trades all on a single platform. With its intuitive estimating and job management tools, American custom home builders and remodelers using Buildxact can cut the time spent estimating and quoting by 80 per cent.
The construction industry across the world is lagging when it comes to tech, with productivity averaging only 1 per cent a year over the last two decades, compared to 2.8 per cent of the total world economy. For builders looking to grow in an evolving economy, tweaking their business model with better administration processes could improve productivity and help to carve out a competitive advantage.
Adam MacLean, Director of Business Development at Buildxact said, “For most builders, the thought of having to purchase, learn and roll out new digital tools sounds expensive and time-consuming. There’s a significant gap in the residential construction market for integrated and feature-rich solutions that are affordable, easy to use and easy to get started with. Today our technology is a trusted tool for hundreds of builders across Canada, Australia and New Zealand to deliver new homes and renovations, and we’re excited to bring this innovation to US builders to help make their lives easier and simpler.”
Buildxact currently has offices in North America and is part of the Building Industry Association Los Angeles Ventura (BIA-LAV), to connect with other local developers, builders and consultants, and to help address some of the key issues impacting the industry.
Tim Piasky, Chief Executive Officer at BIA-LAV said, “We’re delighted Buildxact is part of the BIA-LAV community. A major pain point for builders and subtrades in the residential construction industry is finding a software solution that is easy-to-use. Buildxact not only brings a wealth of industry knowledge to our small builders and remodeler members, but a proven solution that enables builders to reduce estimation and quotation time and stay on top of project costs and scheduling, all on a single platform.”
