The Potential Within Construction Technology

While perhaps not widely considered a dynamic sector, construction technology presents substantial opportunities. Historically, this industry has experienced comparatively low productivity growth.

Lower productivity frequently translates into project delays, ultimately increasing costs for all stakeholders involved.

Addressing a Gap in the Market

Several prominent companies, such as Procore, PlanGrid, and Autodesk, are actively addressing these challenges from the viewpoint of general contractors.

However, solutions specifically tailored for subcontractors – who execute approximately 95% of the actual construction work – have been limited.

Introducing Assignar

Assignar, a cloud-based construction technology startup, emerged to fill this void.

Originally founded in Australia and now headquartered in Denver, Colorado, the company was conceived by Sean McCreanor, a former contractor who experienced firsthand the lack of suitable tools.

Driven by this frustration, he embarked on creating the technology he needed.

Recent Funding and Growth

Assignar has recently secured $20 million in a Series B funding round, spearheaded by Fifth Wall, a venture firm specializing in real estate technology.

This investment, alongside contributions from existing investor Tola Capital and new investor Ironspring Ventures, brings the company’s total funding to $31 million since its establishment in 2014.

From Spreadsheets to a Connected Platform

“I managed 100 crews and workers, along with significant equipment, relying on spreadsheets and whiteboards for all business operations,” McCreanor recounts.

“Assignar essentially bridges the gap between the office and the field, fostering seamless connectivity.”

A Comprehensive Operations Platform

Assignar’s platform is designed for self-performing general and subcontractors engaged in public and private infrastructure projects.

The company’s primary objective is to streamline processes for general contractors, developers, and real estate owner-operators by providing a “real-time snapshot of granular field activity.”

Key Features and Benefits

Specifically, Assignar focuses on optimizing operations and schedules, tracking crews and equipment, enhancing quality and safety, and measuring productivity and progress through data analysis.

The platform aims to efficiently match the most appropriate crews and equipment to specific tasks.

A Growing Customer Base

The startup reports serving hundreds of international clients working on multibillion-dollar projects in infrastructure, road, rail, heavy civil, utilities, and other construction sectors.

These clients range from specialized contractors with as few as five crews to large multinational corporations.

Projects undertaken by these clients include the construction of bridges and roads, for instance.

Revenue Growth and Future Outlook

Assignar has consistently experienced revenue growth, more than doubling annually since its inception.

In 2020, revenue increased by 75%.

“We could have accelerated growth, but prioritized maintaining healthy cash flow,” McCreanor explained to TechCrunch.

Impact of Infrastructure Investment

Assignar’s focus is particularly timely given the anticipated passage of the Biden administration’s Infrastructure Bill, which is expected to stimulate investment in infrastructure projects across the United States.

Addressing an Industry Need

According to Fifth Wall Partner Vik Chawla, the heavy civil and horizontal construction industry has historically lacked a well-designed and widely adopted operations platform.

Streamlining Construction Processes

“Assignar’s cloud-based software delivers a detailed overview of field activity timing and location,” Chawla stated.

“It simplifies communication between headquarters and field teams, reduces paperwork, and generates time and cost savings in an industry where planning, tracking, and reporting are often performed manually, in spreadsheets, or on whiteboards.”

Future Plans and Development

Assignar intends to utilize the new funding to expand its presence in North America – currently accounting for approximately 25% of its revenue – and to double its 65-person team through strategic hiring across all departments.

The company also plans to invest in research and development, focusing on enhancing its core platform.

Planned features include a contractor hub and a schedule recommendation engine leveraging data, AI, and machine learning to optimize planning and execution.