BuildDirect Raises $30 Million Series B Round

Posted by Techvibes NewsDesk

Vancouver's BuildDirect announced this morning that it has raised a $30 million Series B round led by Mohr Davidow Ventures and supported by Canadian investors including existing investor, BDC Venture Capital.

BuildDirect sells building materials at manufacturer-direct prices for DIY home improvement projects and will put the funds toward building out its technology platform, expanding its product offerings, and growing its employee base.

Founded in 1999, BuildDirect has seen over 100% user growth in the last year and has raised a total of $63 million in funding to date.

“Despite its multi-billion dollar size, the home improvement product supply chain is fragmented and inefficient. In the past several years, BuildDirect has achieved phenomenal growth by effectively leveraging sophisticated predictive analytics to address gaps and inefficiencies in the home improvement products industry,” said Katherine Barr, General Partner, Mohr Davidow Ventures. “With this latest round of funding, BuildDirect is well poised to fulfill its goal of transforming the home improvement industry by leveraging its innovative data analytics and technology platform.”

BuildDirect is currently hiring in Vancouver on the Techvibes Job Board.

Company:
BDC Venture Capital
Website:
http://www.bdc.ca
Location:
Montréal, Québec, Canada

With more than $1 billion under management and more than 25 years of industry experience, BDC Venture Capital is an investor of choice focusing on IT, health and energy/cleantech companies, as well as venture funds, with high growth potential. From seed through expansion to exit, their mandate is to help build outstanding Canadian companies, while working to create a sound financial ecosystem for Canadian... more

Company:
BuildDirect
Website:
http://www.builddirect.com
Location:
Vancouver, British Columbia, Canada

Founded in 1999, BuildDirect is an e-commerce provider completely disrupting the retail building products industry by bridging the gap between the manufacturer and end user. By simplifying the supply chain, solving a heavy freight shipping issue that plagued the industry and creating a proprietary data-driven platform that benefits manufacturers, partners and customers alike, BuildDirect customers ultimately enjoy... 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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