Storm Ventures
Bridgit: A Collaborative and Smarter Approach to Construction
Arun Penmetsa
October 26, 2021
1 min read
We are thrilled to welcome Bridgit to the Storm Ventures family. Storm co-led a $24M CAD Series B financing, and I could not be more excited about the opportunity in front of this incredible team.
The construction industry is one of the largest in the world with about $10 trillion spent annually on goods and services. More than 180 million work in the sector and demands on the industry continue to increase rapidly making it a vital part of the global economy. Despite this importance, construction has seen only a 1% increase in productivity over the last 2 decades. This compares to 2.8% in the world economy and some sectors like manufacturing have seen phenomenal growth.
Although there are systemic issues, construction projects also rely on manual and paper-based processes, require integration across numerous systems, collaboration across many teams, and face huge labor shortages. This leads to frequent delays, rework, turnover, and higher costs. The industry desperately needs a solution that addresses these challenges while providing the necessary intelligence to automate workflows, improve efficiency and enable construction firms to address the demand in the market. This is precisely what Bridgit does.
“Ops leaders had no real application to track resources that made the workflow easy and predictable. So they went back into spreadsheets.” — customer
Automation and Intelligence
Bridgit provides organizations with intelligence into their people and projects along with the appropriate workflows to support analytics, security, compliance, and forecasting. This enables managers to analyze historical data, manage current projects and predict future needs through a modern and scalable technology platform. There are 4 key elements to the Bridgit Bench solution:
- Workforce and Project Management — Workforce and project planning is a critical component of the construction industry and is vital to understanding what an organization’s capacity and resource availability are. The challenge is that all workforce planning today is done in Excel with each team, department, and location managing their own spreadsheet. Bridgit Bench gives a real-time overview of all projects and workers so teams can make data-driven decisions to manage changes and complete projects effectively and on time. Furthermore, the platform scales across all locations and departments so teams can collaborate and work off of the same data dramatically increasing efficiency.
“ I can tell you about all the different applications we are using, but it’s the first time in company history we all use the same application” — Customer
Pursuit Management— Brigit enables business development teams to collaborate seamlessly with the rest of the organization to build a comprehensive strategy for winning bids. The Bench product helps general contractors, subcontractors, and self-performing contractors manage all their project bids with a comprehensive view of projects timelines, resource needs, likely workforce allocations, and probability of winning based on historical performance, making them more effective and efficient in scaling their businesses.
Personalized — Bench can be customized to the unique needs of an organization. Changing org structures, project definitions, certification requirements, new processes can all be accommodated while ensuring a secure, compliant, and intuitive user experience. This enables the platform to scale and adapt to the customer’s needs.
Reporting — A key aspect is the powerful reporting features that the platform provides. This gives all stakeholders the ability to analyze data in ways they were never able to before. It also provides a comprehensive view of what is happening across the org while maintaining a single source of truth to enable collaboration and avoid issues.
Bridgit represents a huge change from the status quo and its customers have realized a massive ROI from using the platform.
“We are in Bridgit every single day. We will never go back. We can quantify things that we could not quantify before.” — Customer
A Unifying Layer for Construction
One of the vital aspects of Bridgit Bench is the ability to act as a unifying layer for an organization’s data. The platform provides hundreds of Integrations, which allows teams to easily move their workflows to Bridgit and quickly see value while collaborating with all relevant stakeholders.
Over time, this flexibility allows Bridgit to support all stages of a project’s lifecycle from planning to execution and back-office optimization. Today, tens of thousands of workers and projects are managed through the platform. Customers range from small organizations to many of the ENR 400 making Bridgit an ideal solution for the construction industry.
“Everyone in the construction space should talk to Bridgit” — Customer
Team
One of the most exciting parts about Bridgit is the strength of the team. Mallorie and Lauren have spent years understanding the nuances of construction and have built an incredible platform to support the needs of the industry. Bridgit is a great example of how automation and intelligence can revolutionize a sector. We are thrilled to partner with the team on their journey. You can find out more about the company on their website and LinkedIn.