BiltOn, previously known as Beti, has made significant strides in construction operations and risk management software, recently securing an impressive $15 million in a Series B funding round. This significant capital infusion was led by the investment firm PSG Equity and supported by Titan Capital and 97212 Ventures. Such a substantial investment highlights the growing confidence in BiltOn’s innovative capabilities and solidifies its position as a transformative force within the construction industry. Adding to the momentum, Jeff Wilpon of Sterling Project Development has joined BiltOn’s advisory board, bringing a wealth of experience from overseeing projects worth over $10 billion. His inclusion is expected to play a pivotal role in BiltOn’s strategic initiatives, especially in scaling its operations and refining its technological offerings.
Technological Advancements and Industry Penetration
Since its inception in 2018, BiltOn has been dedicated to refining its platform to cater to a diverse range of construction sectors. Today, BiltOn supports more than 1,200 construction companies across over 3,000 job sites globally. Its comprehensive platform is tailored to meet the needs of various construction verticals, including civil, industrial, commercial, residential, and healthcare projects. One of the critical features of BiltOn’s platform is its ability to centralize data, thereby offering robust tools for workforce management, safety, and compliance. Noteworthy features include 3D facial recognition for verifying workforce identities, automated payroll time tracking, daily logs, incident reporting, safety checklists, permit management, and certification tracking.
BiltOn’s sophisticated risk scoring system is designed to mitigate project risks by delivering real-time insights into workforce activity and safety metrics. This system aims to reduce insurance claims and improve Experience Modification Rate (EMR) scores, which are vital for lowering insurance premium costs. Additionally, BiltOn’s software integrates seamlessly with industry-leading tools such as Procore and Autodesk. By aligning with the standards set by the NYC Department of Buildings, BiltOn offers a comprehensive solution for managing project data and adhering to regulatory requirements, ensuring that clients can maintain high levels of compliance and operational efficiency.
Strategic Partnerships and Future Prospects
Leading general contractors like Consigli, Rudin, Hunter Roberts, SD Builders, and OKO Group have adopted BiltOn’s platform, leveraging its real-time data analysis and automation features. CEO Omer Slavin highlights the revolutionary impact BiltOn’s technology has on compliance and project efficiency. By offering real-time data, BiltOn enables informed decision-making, boosts project visibility, reduces operational risks, and enhances safety outcomes. Ronen Nir, Managing Director of PSG Equity, shares strong support for BiltOn’s growth plans and believes the company can expand its innovative solutions nationwide.
The successful Series B funding round is a significant milestone in BiltOn’s mission to further streamline construction management processes. With new financial support, BiltOn is in an excellent position to enhance project oversight and efficiency in the industry. The integration of advanced technology and real-time data solutions is set to redefine construction standards, improving safety, compliance, and project management. This funding not only strengthens BiltOn’s market position but also paves the way for future innovations that will likely shape the construction industry’s future.
