Buildxact, an Australian construction technology company, has opened operations in the US, the third market outside the country after New Zealand and Canada in October 2018 and May 2019 respectively.
The company said in a statement that it had experienced rapid growth, with business doubling year-on-year, and that it had raised $8.5 million recently to fund its overseas expansion. Aconex co-founder Leigh Jasper, who recently became director of innovation, led the fund raising.
The company makes software to enable residential builders to estimate and manage jobs during construction.
Buildxact was started in 2011 and has a fully integrated cloud platform which provides services from preparing quotes and costing, to purchasing, scheduling, project management and invoicing.
The Buildxact software integrates with tools like QuickBooks, Xero and Deputy to help builders and remodellers control cash flow and profit on projects.
Buildxact chief executive David Murray said: “After testing and refining our product in Australia, we’re ready to bring our estimating and job management software to the 470,000-residential project builders in the US.
“The US presents an amazing growth opportunity for us, with many residential builders lacking fit-for-purpose software tools to help them run the business side of building.
“We’ve been in Canada for over six months now and the traction we’ve experienced in the region proves that there is strong demand for our solution. We’re excited to establish and scale our presence here, and to contribute to the success of the residential construction industry.”
The move into the US was announced during the International Builders Show in Las Vegas, which was held from 21 to 23 January.
Buildxact Business Development director Adam MacLean said: “For most builders, the thought of having to purchase, learn and roll out new digital tools sounds expensive and time-consuming. There’s a significant gap in the residential construction market for integrated and feature-rich solutions that are affordable, easy to use and easy to get started with.
“Today, our technology is a trusted tool for hundreds of builders across Canada, Australia and New Zealand to deliver new homes and renovations, and we’re excited to bring this innovation to US builders to help make their lives easier and simpler.”
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