TrueBuilt–the next-gen pre-construction software provider–announced today that it raised a $4 million seed round to drive more wins and minimize risk for residential and commercial builders everywhere. The round was driven by Bienville Capital—an idea-centric platform supported by a community of specialists across sectors and geographics in both public and private markets—with key participation from Fifth Wall—the largest asset manager focused on improving, future-proofing, and decarbonizing the built world—and the leading construction firm and TrueBuilt customer MAREK. The funds from the round will be used to advance all the capabilities of “TB Assistant,” TrueBuilt’s AI-based solution for quantity takeoff & estimation – while continuing to expand its current customer base.
"We’re thrilled to have Bienville Capital, Fifth Wall and MAREK. as partners in this next phase of our journey," said Jon Sibley, the Founder and CEO at TrueBuilt. "We believe Bienville’s vertical SaaS experience and Fifth Wall’s leadership in real estate tech will unlock new growth opportunities for us at scale. Along with MAREK’s deep-rooted industry experience, I am confident this is the right investor team to drive us forward.”
Founded in 2022, TrueBuilt’s platform offers an innovative suite of software designed to automate pre-construction workflows, enhance collaboration, mitigate all risk and maximize project profitability. TrueBuilt leverages the latest advancements in AI and machine learning to streamline core processes from material takeoff, estimation, bid management to document management, and more. The company is committed to driving innovation and pushing the boundaries of what is possible in preconstruction – ultimately empowering the construction professionals to unlock their full potential.
"TrueBuilt's growth trajectory and early market traction is certainly exciting. But what truly resonates with us is their undeniable passion and commitment for helping America's builders,” stated Blake Bennett, General Partner with Bienville Capital.
“TrueBuilt is addressing a frequently observed problem within the built world: legacy software failing to innovate and address the current needs of its customers,” shared Dan Wenhold, Partner on The Real Estate Technology Investment Team, Fifth Wall. “This presents a prime opportunity for meaningful disruption, for TrueBuilt, within the pre-construction space that they’re aiming to solve.
“Pre-construction represents the secret driver of profitability in today’s ever-evolving construction industry,” shared Julian Prokay, Chief Technology Officer with TrueBuilt. “It is a competitive advantage that can set construction companies up for long-term success. Our entire team at TrueBuilt is dedicated to helping leverage the latest AI and computer vision technologies for U.S. companies, so they can focus in on what they do best — delivering high-quality projects that are both on time and on budget.”