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Briq Closes $30M Series B Fundraise
Santa Barbara-based construction startup Briq Technologies closed a $30 million Series B fundraise led by unicorn hunter Tiger Global Management. Current backers Eniac Ventures and Blackhorn Ventures also participated in this round.
The financing is among the largest Series B raise by a construction software startup and brings the company’s total raised to $43 million since its inception in 2018. This funding round will allow Briq to build on its mission of managing 80 percent of the money workflows in construction within 10 years.
Briq allows contractors to go from plan to pay in one platform by digitizing the financial workflow, and using predictive modeling and analytics to make running a construction company easier and more profitable. The company’s proprietary software automates and streamlines the entire money workflow from financial planning through to payments and banking.
Briq’s growth was north of 200 percent in the last 18 months alone. The startup was founded in 2018 by Bassem Hamdy and Ron Goldshmidt.
- ◦Development
