The Series C funding round was led by Meritech Capital Partners, with new investors BOND Capital and SE Ventures joining existing backers Fika Ventures, Next47, StepStone Group, and Titanium Ventures12. This latest investment more than doubles BuildOps' previous valuation from its $50 million Series B round in May 2023 and a subsequent $36 million follow-on raise3. Since its founding in 2018, the Los Angeles-based company has now raised over $250 million in total funding4.

Designed specifically for commercial contractors in industries such as HVAC, plumbing, mechanical, electrical, and fire and life safety, BuildOps offers an all-in-one platform that integrates field service management, project management, and accounting functions1. The software-as-a-service (SaaS) solution addresses the fragmented nature of commercial contracting software, providing tools for project management, scheduling, service dispatch, invoicing, real-time data reporting, preventative maintenance management, and asset tracking21. By streamlining these processes, BuildOps aims to help contractors overcome challenges like staff shortages, rising costs, and outdated technology, enabling them to "take charge, grow without breaking, and deliver like the heroes they are," according to CEO Alok Chanani34.

Since its platform launch in 2020, BuildOps has experienced remarkable growth, surpassing "seven figures" in revenue in its first year and subsequently tripling revenue in both 2021 and 2022, followed by doubling revenue in 2023 and 202412. The company now serves over 1,000 commercial contractor customers across the United States and Canada, including major industry players like J.H. Kelly, Haynes Mechanical, Dynamic Systems Inc., and Baker Electric34.

With a workforce of approximately 375 employees, representing a 50% increase from the previous year, BuildOps has solidified its position as a leader in the commercial contractor software space12. The platform's success is attributed to its ability to address the unique challenges faced by commercial specialty contractors, offering a unified system for various aspects of their operations, from lead generation to project planning and client management5.

With the new funding, BuildOps aims to accelerate its growth and innovation. The company plans to expand its workforce, invest in product and technology development, particularly its API architecture, and pursue strategic acquisitions12. A key focus will be on accelerating the deployment of AI technology, including predictive analytics for maintenance needs, AI-powered scheduling, and real-time project tracking3. As part of the financing, Paul Madera, general partner and co-founder at Meritech Capital, will join BuildOps' board, bringing valuable expertise to guide the company's expansion in the "massive and critical segment" of commercial services that has been "woefully underserved by modern software"4.