Construction tech startup BuildPass has secured $7.5 million in a Seed round to accelerate its expansion into the US market. The funding round was led by Sydney-based venture capital firm Carthona Capital, with participation from prominent investors including Leigh Jasper’s Saniel Ventures, Tom Preston-Werner’s fund, Recursive Ventures, Horizon VC, and Massive Tech Ventures.
BuildPass plans to utilize the fresh capital to further develop its AI-powered products. These innovative solutions are designed to significantly boost productivity, enhance safety, and improve quality assurance on construction sites. Founded in 2021, the company previously secured $1 million in funding.
Co-founder and CEO Matt Perrott emphasized that the funding will also fuel the company’s growth in Australia, particularly within the small to medium-sized business and mid-market construction sectors, which collectively account for approximately 98% of the industry. Perrott expressed enthusiasm about the company’s rapid progress and the strong investor confidence in the future of construction technology.
Perrott added that much of the innovation in local construction AI is being spearheaded by startups and smaller tech firms. This funding will help establish a new class of AI-native construction technology, integrating fragmented construction software into a more efficient, cost-effective, and sustainable platform accessible to organizations of all sizes.
The BuildPass platform seamlessly combines essential features for safety, quality assurance, site management, and equipment management into user-friendly mobile and desktop interfaces, empowering on-site construction workers.
Co-founder and CTO Aaron Vanston emphasized the company’s commitment this year to creating AI tools for construction workers, introducing five new AI-powered modules aimed at tackling productivity challenges. Vanston emphasized the importance of bridging the digital literacy gap among construction workers through intuitive design and AI. The aim is to enable both current and future workers to embrace digital innovations like BuildPass, which can be easily rolled out across teams with minimal training required.
BuildPass leverages advanced AI technologies from OpenAI and Anthropic to enhance its capabilities and improve the user experience. Since its launch in late 2021, BuildPass has rapidly grown to a team of 22 full-time staff in Australia and is now trusted by over 400 companies nationwide. The company’s impressive growth was recognized with the Best Newcomer award at the Governor of Victoria Start-Up Awards.
Leigh Jasper, CEO of Saniel Ventures and co-founder of the construction software unicorn Aconex, emphasized the long-standing underserved nature of smaller construction businesses. He sees this as a prime opportunity for disruption and is thrilled to support the BuildPass team in driving greater efficiency across the entire construction industry.
