Built Technologies Raises $125 Million in Series D at $1.5 Billion valuation
Built Technologies (Built), a Nashville, Tennessee-based fastest growing construction finance platform in the U.S., today announced $125 million in Series D funding at a valuation of $1.5 billion.
The round was led by TCV, along with Brookfield Technology Partners, 9Yards Capital, XYZ Venture Capital, and HighSage Ventures, who will join existing investors in the Nashville-based company.
The new funding will be used to meet the evolving needs of the industry including Significantly expanding Built’s world-class team, Accelerating the delivery of new products for financial institutions that are active in all types of construction lending, Designing new products for property developers, home builders, and contractors as they collaborate with their vendors to pay or get paid with better insights, Launching next-generation construction payment capabilities along with an insurance brokerage and Further international expansion.
Company: Built Technologies, Inc.
Raised: $125.0M
Round: Series D
Funding Month: September 2021
Lead Investors: TCV
Additional Investors: Brookfield Technology Partners, 9Yards Capital, XYZ Venture Capital, and HighSage Ventures
Company Website: http://getbuilt.com/
Software Category: construction finance platform
About the Company: Built is the leading provider of construction finance technology. Built connects commercial and consumer construction lenders, property developers, commercial general contractors, residential homebuilders, specialty contractors, title companies, and other critical industry vendors to improve the flow of capital through the construction ecosystem. By connecting all key stakeholders involved in the construction financing process in real-time, the Built platform helps mitigate risk, power faster draws and payments, ensure compliance and inspire customer loyalty. Built is used by more than 150 of the leading U.S. & Canadian construction lenders and thousands of developers and contractors.
Source: https://www.businesswire.com/news/home/20210930005263/en/Built-Technologies-Announces-125M-Series-D-Financing-Round-Led-by-New-Investor-TCV