BuiltWorlds member Eyrus, the leading jobsite intelligence platform for the construction and oil and gas industries, recently announced that it has closed $12 million in Series A funding. The round was led by Spring Mountain Capital. Fellow BuiltWorlds member Autodesk also joined as a strategic investor, extending the strong partnership between the two companies and opening the door for more opportunities in the future. Existing investors from Eyrus’ seed round, Motley Fool Ventures and Fuel Venture Capital, participated in the round as well.
Series A funds will be used to accelerate Eyrus’ growth, particularly as the company enters new market segments and geographies. Eyrus will introduce its platform and strengthen existing partnerships in the Asia-Pacific region, as well as in the European Union, the UK and the Middle East. The company will also dedicate resources to advancing customer-focused product development and enhancing its user experience. Additionally, Eyrus will continue its hiring blitz, securing even more top talent for key positions.
Eyrus provides organizations with an easy-to-use platform that delivers vital jobsite intelligence and daily reporting for all stakeholders. The platform automates the collection of a wide variety of workforce data points and allows project teams to accurately enhance attendance, timekeeping, safety and security data in real time. Founded in 2015, Eyrus has since provided value to over $220 billion worth of construction projects globally, saving them more than 510,000 of management hours with automated data collection and more than $180M in project dollars.
“The construction industry is in the midst of rapid transformation, using technology in unprecedented ways to connect people, projects and data,” said Sid Haksar, senior director, head of strategy, Autodesk Construction Solutions. “At a time when organizations need to better manage their onsite labor for a competitive advantage, Eyrus helps increase worker efficiency, jobsite productivity, access control and site safety. Eyrus’ jobsite intelligence platform provides contractors with advanced worker analytics based on real-time data, giving project teams the visibility they need to reduce risk, maximize labor efficiency and adeptly accomplish project goals. With our investment, Autodesk looks forward to building a strategic partnership with Eyrus that will benefit Autodesk Construction Cloud customers with increased visibility of their valuable project resources along with actionable insights.”
“This will be a very big year for Eyrus, and we’re already executing on a number of bold new initiatives,” said Alexandra McManus, CEO and co-founder of Eyrus. “As such, this was the right time to raise capital to drive these initiatives forward with the speed and scale we envision. But finding the right investment partners was far more important to us than just accepting any check. We selected investors who understand, believe in and are excited by our vision. We are thrilled to work with Spring Mountain and deepen our partnership with Autodesk, as well as to build on the foundation of trust and execution we’ve established with Fuel and Motley Fool Ventures.”
BuiltWorlds members can keep abreast of all the latest deals transpiring in the built world by visiting our Venture Dashboard, which looks to capture AEC venture investments made in real time. Technology categories include solutions touching PropTech & ConTech areas like e-commerce, labor solutions, image capture, AI & more. Whether you’re a startup looking for investment, an industry professional wanting context around the startup market, or an investor looking to track your peers, scroll through this list to better understand the investors and activity in real time.
The Venture Dashboard is sponsored by the Corporate Venture Forum, a group of forward thinking BuiltWorlds’ E&C member companies looking to drive innovation by both investing & piloting emerging technologies in the space and to support the broader buildings and infrastructure technology ecosystem.
All Standard and above BuiltWorlds members with an eye on the investment universe are invited to join us at our BuiltWorlds Venture West Conference in Palo Alto, CA from March 9th through 10th, where leading fund investors, strategic investors, and startups will be gathered to take the pulse of the industry’s startup ecosystem!