BuildDirect Attracts $16 Million Investment from OMERS Ventures

Posted by Techvibes NewsDesk

Vancouver's BuildDirect announced today a $16 million investment from OMERS Ventures, the venture capital investment arm of OMERS, one of Canada's largest pension funds.

Founded in 1999, BuildDirect is North America's largest online destination for heavy weight building materials, primarily flooring. The company will use the investment to accelerate growth, expand its team and provide a more extensive product line for customers including professional trades, subcontractors and do-it-yourselfers.

BuildDirect is a pure play e-commerce company, focusing solely on the heavy building materials industry and selling exclusively online. BuildDirect taps into a massive market (the flooring market in the U.S. alone is US$17 billion annually) previously unsuited to e-commerce by solving the complexities of a fragmented, inefficient supply chain, as well as the industry problem of shipping heavy, hard to handle goods cost-effectively.

BuildDirect is headquartered in Vancouver with eight warehouse locations in the United States.

OMERS recently invested $20 million in Vancouver's HootSuite.

Company:
OMERS Ventures
Website:
http://www.omersventures.com
Location:
Toronto, Ontario, Canada

We're OMERS Ventures and we are as passionate about your success as you are about your company. We are looking for like-minded partners who have a shared vision of building a vibrant and successful Canadian knowledge economy. OMERS Ventures is the venture capital arm of OMERS, one of Canada's largest pension funds with over $53 billion in net assets. more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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