Field Materials, a San Jose-based provider of AI-driven software for managing construction material and equipment expenditures, has raised an additional $3.5 million in funding.
The latest investment round brings the total seed funding to $8.5 million. This round was led by new investors DivcoWest Ventures, Navitas Capital, Zelda Ventures, and Flyer One Ventures, along with existing investors Blumberg Capital, s16vc, Zacua Ventures, and industry executives.
The newly acquired funds will be utilized to expand the company’s sales and customer success teams to accelerate its growth.
Founded by Eldar Sadikov and Victor Gane, Field Materials offers an AI procurement platform designed to help contractors control and verify spending. The company’s web and mobile applications streamline the process of material purchasing and equipment rentals by eliminating the need for manual data entry for quotes, invoices, packing slips, and receipts. This process helps customers save 5-10% in material costs by automatically identifying billing errors.
Currently, Field Materials serves customers across eight different construction trades, integrates with the top eight accounting software systems in construction, and collaborates with professional organizations across four trades, including SMACNA, NFCA, SWACCA, and CFMA.
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By Proptechbuzz
By Ravi Kumar
