Kojo, a firm in construction technology, secures $39M in Series C funding.
In a Series C round of fundraising headed by Battery Ventures, Kojo, which wants to assist American construction companies in managing their materials supply chains “seamlessly” has raised $39 million.
It now serves eight construction trades in addition to electricity, such as mechanical, concrete, drywall, roofing, flooring, site preparation, and self-perform general contractors, up from only one before—electrical.
The startup’s goal is to assist its clients in reducing the amount of trash they create on projects so they may use far less material.
In other words, it offers software to aid contractors in obtaining the cheapest prices for the materials they use in construction projects, allowing them to significantly increase their savings, move projects forward more quickly, and produce less waste.
They have already helped their clients save more than $19 million on material orders and have cut down on up to 90% of the trash generated during work. Nearly 10,000 constructions, including hospitals, schools, stadiums, business buildings, and multifamily housing developments, were powered by it.
Operating as a SaaS company, which means it sells yearly subscriptions to its software, it is already processing over $1 billion in materials orders for thousands of users.
Due to significantly less waste, Kojo claims it can save contractors up to hundreds of thousands of dollars in supplies each year. Additionally, it can speed up the ordering process by 50%.
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