Construction management

DigiBuild secures $4 million seed round for blockchain-based construction management platform

By Riley Kaminer

Despite rising construction costs and an overall increase in market volatility, the construction industry in South Florida is still booming. Overall, the industry accounts for somewhere between 6 and 10% of global GDP. But it’s woefully late from a technical standpoint — part of the reason that up to 70% of projects end up late and over budget.

Miami-based DigiBuild is building a blockchain-based platform to digitize construction processes and create efficiency at scale. The startup has just announced that it has raised a $4 million funding round to lead the platform’s growth. Investors include Y Combinator, Draper Associates, Harvard University, Picus Capital, PlanGrid co-founders, Bluefield Capital, Cathexis Ventures, MH Carnegie, Build Technologies, OrangeDAO and Chain Reaction.

In an email to Refresh Miami, co-founder and CEO, Robert Salvador, said the funds will be used to expand DigiBuild’s technical and product capabilities. “We are becoming the trusted supply chain and materials management software for construction, so we will continue to improve our product to solve more problems for customers, expand sales/marketing efforts, and seek to grow our customer base. of building contractors.”

Robert Salvador, CEO of Digibuild. Salvador with his co-founders are pictured at the top of the post.

Salvador co-founded DigiBuild alongside CTO April Moss, a market and retail strategy veteran, and VP of Engineering Ivan Franco, a blockchain expert, in 2018. DigiBuild participated in Y Combinator’s 2021 Summer Batch.

The startup’s main product, DigiProcure, is a material and procurement management tool that automates administrative processes for contractors. The DigiBuild platform allows users to search, filter, and compare various aspects of a project’s timeline. The idea is that this advanced data insights will help reduce waste and fraud.

The blockchain aspect of the platform makes it easier for businesses to collaborate. Salvador, who comes from a family of entrepreneurs and has worked as one himself, noted that the typical project creates 750,000 documents. “Each different business party has a different version of the same paperwork,” he said. Moving all of this onto the blockchain will create a single source of truth – streamlining and digitizing this mountain of paperwork.

DigiBuild’s Robert Salvador introduces VCC Construction, a DigiBuild customer and a major South Florida builder.

DigiBuild currently has nine full-time employees. This funding will allow the startup to hire a business development manager to help the company work with more construction companies and industry partners. While DigiBuild is a remote company, Salvador reported that the startup hopes to find a Miami-based candidate since its headquarters are here.

Salvador moved to Miami a year ago and hasn’t looked back. “We were drawn to the growing tech scene, a strong, business-friendly economy, incredible weather, and we were tired of states like Illinois restricting business, freedom, and opportunity,” he said. he declared. “We wanted to be part of America’s next tech hub, and that’s Miami. It was worth it and we would do it again in a heartbeat.

Miami is increasingly becoming a hub for Y Combinator-backed startups, including Papa, Career Karma, QuickNode, Finnt, and Pigeon Loans. Construction is also a key part of Miami’s tech scene, with innovators working to improve planning processes, develop digital IDs, provide financing for construction professionals, and more.

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