Beti Secures $15 Million in Series B Funding and Rebrands as 'BiltOn' to Help Enhance Construction Operations & Risk Management Software and Reduce Insurance Claims

Company Expands Nationally, Enhances Suite of Platform Features

NEW YORK, Oct. 22, 2024 /PRNewswire/ -- BiltOn, a leading construction operations & risk management software, has announced the completion of a $15 million Series B funding round, along with a rebranding from its former name, Beti. This investment was led by PSG Equity, a growth equity firm specializing in software and technology-enabled services, with additional participation from Titan Capital and 97212 Ventures.

As part of this funding, Jeff Wilpon, founding partner and CEO of Sterling Project Development, has joined BiltOn's advisory board. Wilpon brings extensive experience in overseeing more than $10 billion worth of construction projects across various sectors.

Platform Growth and Capabilities

Since its founding in 2018, BiltOn has rapidly expanded its platform to empower owners and general contractors in managing workforce, safety, and compliance during the construction process. With both web and mobile accessibility, the platform offers a range of tools, including 3D facial recognition for workforce verification, automated time tracking for payroll, daily logs, incident reporting, safety checklists, permit management, and certification tracking. These features aim to centralize data and improve project oversight, helping users navigate complex regulatory requirements.

Expanding National and Global Reach

Currently, BiltOn supports over 1,200 construction companies across more than 3,000 active job sites globally. The platform serves a wide range of construction verticals, including civil, industrial, commercial, residential, and healthcare sectors. Since launching in the U.S., the company has experienced growth and expanded its team to more than 70 employees. Among its clients are some prominent general contractors such as Consigli, Rudin, Hunter Roberts, SD Builders, and OKO Group.

"We're thrilled to further our investment in BiltOn as they expand their operations across the U.S. and continue to bring valuable solutions to the construction industry," said Ronen Nir, Managing Director of PSG Equity.

Comprehensive Solutions for Risk and Compliance

BiltOn's suite of tools is designed to help support smoother workflow management, enhance safety monitoring, and streamline compliance processes. The platform's proprietary risk scoring system helps contractors manage potential risks on-site, offering real-time insights into workforce activity, permitting, and project safety. Although outcomes may vary, these capabilities are intended to assist in mitigating risks and improving overall project efficiency.

"We believe BiltOn's technology is transforming the way owners and general contractors manage compliance and project efficiency. By providing real-time data and automation, we're helping contractors navigate the complexities of construction site operations with more confidence," said Omer Slavin, founder, and CEO of BiltOn.

Technology Integration and Industry Impact

BiltOn integrates seamlessly with widely used construction management tools such as Procore and Autodesk. The platform also complies with New York City Department of Buildings standards, offering a streamlined approach to managing project data and meeting regulatory requirements. While not guaranteed, BiltOn's technology is designed to assist in reducing site risks, lowering insurance claims, and improving Experience Modification Rates (EMR) scores. The company's reach has expanded from its roots in New York City to projects across the U.S. and globally.

About BiltOn
BiltOn is a construction operations & risk management software platform that empowers owners and general contractors to track and manage labor, safety, and compliance challenges during construction and in the future. Only BiltOn provides the ability to guarantee that only the people who are supposed to be on the jobsite are, how long they've spent on-site with automated daily work and safety logs, and compliance with all safety regulations. Reduce the risk of all types of litigation, including wage theft, safety, and permitting compliance. For more information, please visit https://bilton.tech/.

About PSG
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 140 companies and facilitated over 500 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid, and Tel-Aviv. To learn more about PSG, visit www.psgequity.com.

Contact:

PSG

Jackie Ryan

[email protected]

SOURCE BiltOn