Nashville-based technology startup INGENIOUS.BUILD has successfully secured $37 million in Series A funding. The round was co-led by Morpheus Ventures and Navitas Capital alongside Koch Real Estate Investments, with participation from American Family Ventures, JLL Spark Global Ventures, and Crow Holdings.
As a leading real estate developer and construction manager, Crow Holdings is excited to partner with the INGENIOUS team on designing and growing their platform, which we believe fills an area of need and opportunity in the industry's workflow.Elie Finegold, Managing Director at Crow Holdings Capital
The funding will enable INGENIOUS.BUILD to enhance its project management solutions for the real estate development and construction industry.
The company's CEO and Founder, Nick Carter, expressed gratitude for the support and emphasized the funding's role in furthering their commitment to industry disruption:
This funding is pivotal in strengthening our commitment to the growing number of companies choosing to partner with INGENIOUS every single day. It exemplifies their trust in us and fuels our relentless pursuit of industry disruption.Nick Carter, CEO & Founder at INGENIOUS.BUILD
INGENIOUS.BUILD is an all-inclusive platform that promotes collaboration between all project-team workspaces with real-time data for property owners, developers, general contractors, speciality trades, architects, and engineers. The main benefits and features for users are as follows:
Project Financials: The cutting-edge platform provides real-time visibility into project expenses, budget utilization, and financial outcomes, empowering users to make informed decisions. With automated reporting and seamless integration, INGENIOUS streamlines financial processes, ensuring projects stay on track and within budget. It also tracks financial risks, allowing users to generate and compare feasibility budgets with a few clicks quickly. The platform enables automating costs against chosen budgets and sharing feasibility plans digitally with partners or clients. Users can optimize their contract creation process by developing standardized templates that are easy to use. Unlike the competition, INGENIOUS delivers on its promises with seamless integration and synchronization across various project management aspects, ensuring stakeholders are always up-to-date with the latest information. From instant communication and collaboration to real-time progress tracking, INGENIOUS empowers teams to make informed decisions and take immediate action. The platform also streamlines cash flow forecasting by linking it directly with budgets and billings, simplifying and streamlining billing and invoicing processes.
Project Management: INGENIOUS offers robust features enabling users to deliver projects on time and within budget. The platform aims to bring a groundbreaking shift in team collaboration and communication, boosting productivity by streamlining workflows and ensuring a smooth and interconnected work atmosphere. It also offers efficient task allocation, real-time updates, and seamless collaboration like never before.
Construction Administration: INGENIOUS streamlines the entire construction process from start to completion, ensuring seamless communication, increased efficiency, and effective management of construction projects. The platform empowers collaboration and drives efficiency, seamlessly managing RFIs with unmatched ease and precision and staying aligned with construction documents. INGENIOUS simplifies every step of the way with its user-friendly interface and advanced features, effortlessly uploading, organizing, and collaborating on drawings. It also ensures controlled transparency and accountability and embraces the power of secure cloud-based storage. It also offers an Auto-Generating Submittal process tailored to users' needs and revolutionizes how inspections are conducted and managed.
The $37 million Series A funds will be allocated towards advancing product features, expanding market reach, and enhancing client support infrastructure to support the company's growth trajectory.