A construction tech company focused on monitoring quality and compliance during construction has secured $6.6 million, with Skip Capital taking the lead.
The inaugural funding round for Visibuild, a three-year-old startup from Melbourne, was also supported by private and non-institutional backers. The raised capital will be directed towards advancing product development as the company aims to grow across Australia and into new territories.
Visibuild streamlines construction project management by mirroring the checklist approach of SafeCulture’s safety app. This ensures quality control by mandating that tradespeople utilize the app to complete quality assurance tasks. By tracking these tasks, project managers gain real-time visibility into project progress, facilitating smoother and more efficient workflows.
Damien Quinn, CEO and co-founder of Visibuild and a former construction executive at Multiplex, has developed a cutting-edge quality-checking tool. This technology empowers subcontractors to ensure their work adheres to precise specifications during construction, minimizing errors and the associated costs of rework.
A substantial portion of construction costs, exceeding one-fifth, arises from avoidable mistakes. Furthermore, productivity inefficiencies result in project timelines being extended by an average of 20%.
By teaming up with builders, developers, and subcontractors, Visibuild addresses non-compliance, reduces errors, and cuts down on rework and commercial risks. The platform has tracked 700 projects since its launch and now has over 1,800 companies using its software. Reportedly, it has halved defect costs for its users.
According to Quinn, Visibuild’s goal is to redefine quality assurance standards in the construction sector.
The sector continues to face significant challenges, including productivity issues, inefficiencies, and cost overruns, often arising from weaknesses in quality assurance practices. Visibuild seeks to promote cultural change across the supply chain to enhance industry standards and improve outcomes for all parties.
He envisions developing data collection during construction to the point where it can offer immediate progress reports.
Kim Jackson, CEO and cofounder of Skip Capital, stated that Visibuild is addressing a key challenge in the construction industry.
She noted that their method will bring real-time visibility and ensure accountability on construction sites throughout the nation.
The potential before the team is immense, and there is enthusiasm about accompanying Visibuild on their journey to extend their impact across the construction sector.
