ASH Ventures Completes $40m Series B Investment In BLOX
Funds Provide Capital to Expand Production of Healthcare Facilities and Technology Infrastructure
ATLANTA, Jan. 26, 2021 /PRNewswire/ -- ASH Ventures, a strategic investment firm based in Atlanta, announced a $40M minority investment in BLOX, the largest manufacturer of healthcare facilities in the United States. The investment represents the first tranche of ASH's Series B commitment; ASH expects to close its final tranche of Series B investment later this quarter.
BLOX is the developer of the Design Manufacture Construct (DMC) building delivery system. This turnkey solution replaces traditional design and construction methods with a modernized approach that leverages manufacturing and technology to make construction simple. The ASH investment allows BLOX to expand production capacity, improve collaboration tools with its customers, and more deeply integrate with its suppliers to meet the needs of its growing base of Fortune 500 clients, which today include Walmart Health, HCA Healthcare, Universal Health Services, and Encompass Health. BLOX's healthcare focus reflects the company's philosophy of applying deep industry expertise to solve problems facing its customers.
Technology is a critical part of DMC, and the ASH team brings significant experience in the enterprise software and technology space. "We love BLOX," said Andy Heyman, managing partner of ASH Ventures. "They are innovative, sustainably profitable, and trusted by their customers. Commercial construction is an $800 billion industry in the United States and ripe for disruption. We feel the moat built by BLOX represents a foundation for scalable growth and market share gains as far out as we can see." Heyman previously served as Chief Operating Officer of Radiant Systems, helping lead the company through its public offering and sale, and most recently chaired the board of Tin Roof Software, an enterprise class cloud solutions provider for Fortune 500 companies. "We feel fortunate that Chris and the BLOX team chose our firm to be part of their journey," Heyman continued.
"Partnering with ASH accelerates our ability to achieve BLOX's mission of 2x2x2 – delivering buildings at twice the speed, twice the quality and with twice the value of traditional approaches," said Chris Giattina, BLOX founder and CEO. "Most importantly, we like the ASH team's philosophy of building great organizations by delighting customers and leveraging technology."
About ASH Ventures
ASH Ventures is a strategic investment firm that applies our unique investment charter and world-class execution capabilities to innovate and grow businesses with a highly management-centric approach. www.ashvx.com
About BLOX
Headquartered in Bessemer, Alabama, BLOX is the largest manufacturer of healthcare facilities in the nation. BLOX developed and pioneered the Design Manufacture Construct (DMC) platform – a new way to build institutional-grade, complex structures at scale. BLOX utilizes DMC to build facilities across the country, with a specialization in healthcare, for Fortune 500 customers, including HCA Healthcare, Universal Health Services, and Walmart Health. www.bloxbuilt.com.
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SOURCE ASH Ventures
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