Field Materials, a San Jose, CA-based AI software startup with a bold vision to disrupt the $2 trillion global market of construction material purchasing, raised $4.65 million in seed funding to disrupt the construction material purchasing market.
The round was led by Blumberg Capital with participation from Zacua Ventures and joined by prominent industry executives including Mike Amend (CDO at Ford Motor Company, former SVP of Lowe's Companies, Inc., and former VP of The Home Depot) and Arnold Goldberg (GM of Payments at Google).
Field Materials’ web and mobile apps streamline the purchasing process across the entire lifecycle of a construction project, from requesting quotes during pre-construction to managing orders and deliveries to the construction site.
The software digitizes workflows that were traditionally done in Excel, email, and paper. It eliminates errors and delays in projects through AI-powered checking of delivery slips and invoices as well as automation of notifications and reminders.
Company: Field Materials, Inc.
Raised: $4.65M
Round: Seed Round
Funding Month: April 2023
Lead Investors: Blumberg Capital
Additional Investors: Zacua Ventures, Mike Amend, and Arnold Goldberg
Company Website: https://fieldmaterials.com/
Software Category: Material Purchasing Software
About the Company: Founded by Eldar Sadikov and Victor Gane, Field Materials is a material purchasing software powered by AI. It manages the procurement of construction materials for both contractors and vendors. The company’s mission is to digitize the procurement process of construction materials. Field Materials software platform empowers contractors and vendors to streamline every aspect of procurement, free up their time for more valuable work, and generate margin gains and cost savings. General contractors and specialty subcontractors use Field Materials’ web and mobile apps to streamline their material procurement, from requesting quotes during pre-construction to managing orders and deliveries to the construction site.
Source: https://www.prweb.com/releases/2023/04/prweb19254809.htm