We’re thrilled to announce our newest investment in Bridgit’s $19.4M Series B, co-led by Storm Ventures and Camber Creek. Nine Four Ventures is excited to partner with Mallorie, Lauren, and the Bridgit team to build the category defining workforce management software platform for the construction industry. Here is a bit about the business, opportunity, and why we invested.
Bridgit is a workforce management software platform for enterprise general contractors. Bridgit’s goal is to transition customers from manual, Excel-based processes, to a cloud-based system of record that improves transparency and reduces the traditional costs, time, and overhead typically required to efficiently assign, manage, and track increasingly remote workforces.
Bridgit was born out of Mallorie and Lauren’s experience and interest in construction that stemmed from close family ties to the industry. This is what led them to do years of research in the field and iterate on multiple products. Their experiences helped them develop a unique muscle and intuition for product development that is few and far between. Those years of research afforded them the opportunity to work closely with their customers, learn from them, and ultimately sharpen their pencils and develop a clear ‘pain killer’ application that the construction industry desperately needs.
After we met, it was clear that the business is addressing an overlooked and underestimated pain point in a slow-moving, global, trillion-dollar market that historically operated offline. Every general contractor we spoke to are managing their workforces in either Excel or internally built systems. Given recent macro tailwinds, such as the insatiable demand for housing supply and President Biden’s massive infrastructure bill, construction firms have no choice but to staff up quickly. Workforces are also becoming increasingly dynamic and remote, which puts pressure on existing monolithic workforce management paradigms dominated by Excel and custom integrations. As a result, firms will need to transition to more scalable, integrated, and cloud-native applications such as Bridgit to get the most out of their employees and properly set them up for success. Employees are every corporation’s most important asset and they shouldn’t be managed in static spreadsheets, especially when construction job sites are some of the most complex work environments in the economy. Real-time data structuring and the standardization of workflows is game-changing and any firm not leveraging Bridgit in the future may be at a major disadvantage.
We’ve spent a lot of time trying to identify where the venture backable opportunities are in the spaces that impact our LPs and network meaningfully, and things clicked for us when we met Bridgit. Bridgit’s practical solution and immediate impact make it abundantly clear that digitizing workforce management software for construction is critical, and Bridgit is the best positioned to build this category-defining company that will greatly benefit the entire industry.
Congrats again to Mallorie, Lauren, and the Bridgit team. We’re just getting started!