Source: 8newsnow

BuildVision, a commercial construction procurement platform, today closed on a $10 million Series A round of funding led by Norwest Venture Partners with participation from existing investor Crosslink Capital. This round brings the total funding raised to $13.8 million. BuildVision will use this round to accelerate development of its cloud-native procurement platform with new product and engineering hires, drive greater artificial intelligence (AI)-powered automation, expand adoption among the top 100 ENR contractors and grow build supplier and OEM partnerships.

“Construction is one of the largest industries still plagued by inefficient, manual procurement. BuildVision is tackling this head-on with a digital-first platform that brings structure, transparency and automation to a historically fragmented process,” Sean Jacobsohn, partner at Norwest Venture Partners, who will join BuildVision’s board. “BuildVision offers a unique value proposition that helps contractors simplify the procurement process, offering more visibility, which drives down costs, reduces risk and speeds up construction timelines. We look forward to working with the team as they position BuildVision to become the dominant player in the multi-billion enterprise construction software market.”

By transforming relationship-based procurement into a data-driven process, BuildVision gives contractors greater control, cost transparency and a faster path to market. With BuildVision, contractors can:

• Ensure on-time deliveries – Improve coordination across multiple job sites
• Cut costs by up to 20% and accelerate procurement – Improve lead times and eliminate unnecessary mark-ups with direct sourcing
• Strengthen supplier collaboration – Manage relationships and negotiations at scale
• Maximize margins – Leverage aggregated demand for better pricing.
• Gain real-time visibility – Instantly track RFQ statuses and procurement progress

“Construction procurement is broken. By revolutionizing how every component is sourced, purchased and financed, BuildVision is not just building software—we’re creating a network that fundamentally changes how $300 billion in building systems are procured annually,” said Mike Powers, CEO of BuildVision. “Our latest round of funding enables us to accelerate adoption and help more contractors make smarter, faster procurement decisions—reducing costs, improving project profitability and reducing risk across the supply chain.”