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Bridgit Secures $24M In Funding To Provide Construction Companies With ‘Workforce Intelligence’

Oct 26, 2021•almost 4 years ago

Amount Raised

$24 Million

Toronto

Description

Bridgit, a “workforce intelligence” technology company that is focused on the construction industry, announced today that it has raised $24 million in Series B funding.

Company Information

Company

Bridgit

Location

Toronto, Ontario, Canada

About

The startup launched its first product, Bridgit Field, in March 2014. Since then, the company has increased its headcount from 46 to 83 while its revenue has surged by 140%, according to Lake. The company plans to use its new capital mostly toward building out its team, product development and doubling down on its go-to-market strategy.“The construction tech market is exploding and for good reason,” said investor Arun Penmetsa of Storm Ventures, who took a seat on Bridgit’s board as part of the financing. CEO Mallorie Brodie and COO Lauren Lake founded Bridgit in late 2012 with the mission of helping construction companies maximize profits “by taking a people-first approach.” The end result, Bridgit claims, is increased productivity and profitability.

Funding Insights

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