logo
logo

Agora Raises $33 Million To Reinvent Commercial Materials Procurement In Construction

Aug 12, 2021•about 4 years ago

Amount Raised

$33 Million

San FranciscoReal EstateInternet ServicesCommerce And Shopping

Description

Agora, the industry-leading commercial construction procurement platform, today announced its $33 million Series B funding round led by Tiger Global, with additional key investments from 8VC, Tishman Speyer, Jerry Yang, Michael Ovitz, DST, LeFrak, and Kevin Hartz. Commercial trade contractors use Agora to order and track materials, automate manual data entry, and bring all their supply chain stakeholders together onto a single platform for seamless communication. Agora's software solution is a crucial component in reducing the cost of construction, helping deliver critical projects that strengthen local communities faster and more efficiently, and reducing materials waste.

Company Information

Company

Agora

Location

San Francisco, California, United States

About

In total, the company said its technology can provide up to $300,000 of potential annual savings for its average customer. AgoraMaria Rioumine and Ryan Gibson founded Agora with the mission of making it easier for commercial trade contractors to order and track materials, automate manual data entry and give everyone involved in the procurement process a single platform by which they can communicate with each other. By bringing both field and office teams onto one digital platform, Agora claims it saves office teams 75% of the time they spend processing purchase orders, and field teams 38% of the time their foremen spend on materials management.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech