BuildOps Inc., an artificial intelligence-powered platform that simplifies project management and service for commercial contractors, today announced it has raised $127 million in new funding, raising its valuation to $1 billion.

The Series C round was led by Meritech Capital Partners. New investors BOND Capital and Schneider Electric’s SE Ventures also participated, joined by existing investors Fika Ventures, Next47, StepStone Group and Titanium Ventures.

Commercial contractors face numerous challenges in their day-to-day work as they build and maintain facilities, including hospitals, schools, offices and public infrastructure. Online market research firm IBISWorld.com estimates that commercial spending in the United States often reaches $300 billion per year, with related contract work representing a significant portion of that.

According to BuildOps despite the revenue flowing through the market, contractors still suffer from severe inefficiencies, with nearly 30% of their time lost to delays, disorganized workflows and costly reworks.

“I talk to contractors every day — HVAC pros, plumbers, electricians — and they’re busting their backs keeping our world running, but the deck’s stacked against them with short staffs, skyrocketing costs, and tech that’s stuck in the Stone Age,” said Chief Executive Alok Chanani.

Founded in 2018, BuildOps has developed an AI platform that can proactively simulate project scenarios, prepare workers for future decision-making, forecast outcomes and evaluate risks. The company says no one person or team can predict what’s ahead of them, and there’s a lot of data available that AI can mine to provide insights about a work project to anticipate potential pitfalls. The platform can be used by contractors to handle anything from large-scale construction projects to ongoing maintenance.

“It fires me up because [contractors] deserve better — tools that don’t just keep up but actually let them run circles around the chaos,” Chanani added. “That’s what we’re building at BuildOps: a way for them to take charge, grow without breaking, and deliver like the heroes they are.”

The company emphasized that the demand for resilient solutions in the industry has never been higher. With an aging workforce, rising labor shortages, increasing material costs and complex regulations, contractors face mounting challenges in managing projects efficiently.

BuildOps said it aims to unify the contractor experience by integrating scheduling, dispatch, project management and financial reporting into a single platform. Its real-time data reporting and predictive analytics help technicians and administrators stay ahead of potential risks, reducing downtime and overhead costs.

With the new funding, the company said it intends to expand its product capabilities and has plans to launch additional features in the coming months, including AI tools designed to help contractors anticipate maintenance needs and reduce equipment downtime.

Photo: Pixabay, BuildOps