Bridgit, a Toronto-based SaaS startup, has raised $24 million (CAD) in its Series B financing round co-led by Camber Creek and Storm Ventures.
Other participating investors include Nine Four Ventures, with existing investors, BDC Capital’s Women in Technology Venture Fund, StandUp Ventures, Sands Capital, and Vanedge Capital. The fresh funding brings Bridgit’s total funding to approximately $45 million (CAD) in equity financing.
The new capital will be used for building out its team, furthering its product development activities, and laying the groundwork for increasing market share.
Company: Bridgit Inc.
Round: Series B
Funding Month: October 2021
Lead Investors: Camber Creek and Storm Ventures
Additional Investors: Nine Four Ventures, BDC Capital’s Women in Technology Venture Fund, StandUp Ventures, Sands Capital, and Vanedge Capital
Company Website: https://www.gobridgit.com/
Software Category: Project management platform for construction businesses
About the Company: Founded in 2014, Mallorie Brodie and Lauren Lake founded the company after the two met in the 2013 Next 36 young-entrepreneur programs in Toronto. Bridgit offers a project management platform for construction businesses. Its flagship product, Bridgit Bench, is a digital, cloud-based platform that aims to support general contractors while they plan and grow their workforce. Bridgit claimed has seen a “staggering rate of adoption” by North American contractors, onboarding 58 new customers including, names such as Clayco, The Walsh Group, Hoffman Construction, Skanska, Ryan Companies, and Alberici-Flintco. The company also claims it is partnered with over 16 percent of the Engineering News-Record’s Top 400 Contractors, the largest contractors in the United States based on revenue.