A Vancouver company that’s using cutting edge big data technology to cut costs in the construction sector has raised $4 million from BDC IT Venture Fund.
BuildDirect is an e-commerce firm that uses predictive analytics tohelp building firms accurately price the cost of heavy materials neededfor a job, then ships those supplies directly from the manufacturer tothe customer. BuildDirect said its site can help customers save up to80 per cent in building costs.
Founded 12 years ago specializing in flooring materials, BuildDirecthas now raised a total of $20.6million. About 4.8 million users visited its site in 2011.
CEO Jeff Booth said in a news release that he intends to buildBuildDirect into a billion-dollar company rather than fielding takeoveroffers that commonly flood in to firms that reach the level of growthhis firm is seeing – projected to be 70 per cent in 2012 and 100 percent in 2013.