Visibuild, a Melbourne-based construction technology company, has raised $6.6 million in its initial funding round. The investment, led by Skip Capital, will accelerate product development and expand its efforts to improve productivity and quality assurance in the construction sector.
Founded in 2021, Visibuild has facilitated over 700 projects and onboarded 1,800 companies to its platform. The startup addresses inefficiencies and cost overruns in the building industry by offering tools that enhance compliance and reduce errors. The company’s clientele includes notable names such as BESIX Watpac, Built Environs (a subsidiary of McConnell Dowell), Kapitol Group, Icon, and Delta Group. Some clients have reported significant cost savings, including a 50% reduction in defect costs.
According to CEO Damien Quinn, Visibuild’s mission is to elevate quality assurance standards across the construction industry. “Persistent productivity challenges, inefficiencies, and cost overruns burden the sector. Our platform fosters cultural change throughout the supply chain, improving outcomes for stakeholders,” Quinn said. He also highlighted that Skip Capital’s expertise in infrastructure and project management software aligns with Visibuild’s vision, aiding its expansion across Australia and into international markets.
Skip Capital, established in 2017 by Kim Jackson and Scott Farquhar, has a track record of investing in technology and sustainability-focused startups, including Canva, Airwallex, and CultureAmp. Kim Jackson, CEO of Skip Capital, noted the potential of Visibuild’s solution, stating, “Visibuild’s approach introduces real-time visibility and accountability to building sites, addressing critical challenges in the construction sector.”
Visibuild’s tools are designed to promote accountability and reduce inefficiencies. The company estimates that 21% of construction costs are due to avoidable errors, while project timelines are often extended by 20% due to productivity challenges. Its quality-checking tools assist subcontractors in adhering to specifications, minimizing rework, and reducing commercial risks.
The startup’s founding team—Damien Quinn, Ryan Treweek, Renee Phelan, Shaun Phelan, and Dave Allie—brings extensive experience from both the construction and software development industries. Quinn and Shaun Phelan previously worked at Multiplex, a global construction services company.
This funding announcement follows a similar trend in the sector, as another construction tech startup, BuildPass, recently raised $7.5 million in a seed round led by Carthona Capital. BuildPass is developing an AI-powered operating system for the construction industry with global ambitions.
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.
By Proptechbuzz
By Ravi Kumar
