Big data meets building trades as BuildDirect raises $4 million

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.

BuildDirect started outspecailizing in analytics tools and e-commerce for flooring materials.(Photo: Shutterstock

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.

Source | VentureBeat

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Christine Wong
Christine Wonghttp://www.itbusiness.ca
Christine Wong has been an on-air reporter for a national daily show on Rogers TV and at High Tech TV, a weekly news magazine on CTV's Ottawa affiliate. She was also an associate producer at Report On Business Television (now called BNN) and CBC's The Hour With George Stroumboulopoulos. As an associate producer at Slice TV, she helped launch two national daily talk shows, The Mom Show and Three Takes. Recently, she was a Staff Writer at ITBusiness.ca and is now a freelance contributor.

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