– CANADA, Kitchener – Bridgit, a Toronto-based workforce intelligence technology company that’s focused on the construction industry, today announced a $24 million in Series B funding co-led by Camber Creek and Storm Ventures, alongside additional investors including Nine Four Ventures, and existing investors BDC Capital’s Women in Technology Venture Fund, StandUp Ventures, Sands Capital, and Vanedge Capital.
Concurrent with the financing, Arun Penmetsa, Partner at Storm Ventures, and Mitchell Schear, Executive Partner at Camber Creek are joining the Board of Directors.
“Construction technology drives massive improvements in the safety, productivity, and bottom line for general contractors. It’s no wonder half of the venture funding over the past 3 years has gone to ConTech,” said Arun Penmetsa, Partner at Storm Ventures. “By transforming workforce data into actionable insights, Bridgit’s customers leverage the most important tool in their tool belts — their people — to reduce risk and maximize profit.”
“Bridgit drives meaningful value to leading construction companies by helping them maximize team member contributions,” added Mitchell Schear, Executive Partner at Camber Creek. “It is an intuitive, easy-to-use platform that makes complex operations simple.”
Founded by CEO Mallorie Brodie and COO Lauren Lake, Bridgit’s post-Series B blueprint includes building out its team, furthering its product development activities, and laying the groundwork for increasing market share.
Bridgit also announced the hiring of Amy Abascal as VP of Marketing and Jason Fitzpatrick as SVP of Sales
“When we went on the hunt to solve the industry’s next challenge, my co-founder and I spoke with hundreds of contractors and construction executives to understand how technology could make them more successful. Clear themes emerged, including more strategic workforce planning, the need to forecast future staffing demands, and collaborative access to people and project data,” said CEO and Co-Founder, Mallorie Brodie. “In just over two years since launching, we’ve experienced a staggering rate of adoption by North America’s biggest general contractors like Skanska, Balfour Beatty, and Ryan Companies, among others. This Series B funding round will fuel rapid product development and aggressive hiring, so we can continue to bring innovative solutions to the forefront of the construction industry.”
About Bridgit
Bridgit is workforce intelligence for the construction industry. Bridgit’s mission is simple — to help the construction industry maximize profits by taking a people-first approach. Workforce Intelligence from Bridgit transforms workforce data into actionable insights that inform an organization’s strategic and tactical business decisions. Bridgit is a privately held company, having raised over $35 million in equity financing, with capital from investors such as Autodesk, BDC Capital’s Women in Technology Venture Fund, Camber Creek, Export Development Canada, IAF, Nine Four Ventures, Salesforce Ventures, Sands Capital, StandUp Ventures, Storm Ventures, and Vanedge Capital.
For more information: https://gobridgit.com/
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