Following 2.5X revenue growth, Bridgit heads into 2021 with more momentum than ever before
Dec 14, 2020, 09:00 ET
Following accelerated 2.5X revenue growth and 6X increase in users, leading construction technology company goes into 2021 with plans to further accelerate their growth.
KITCHENER, ON, Dec. 14, 2020 /PRNewswire/ - Bridgit, a leading construction resource planning software company, experiences accelerated 2.5X revenue growth and 6X increase in users in 2020.
"After researching the pain points around resource planning in construction, we were ecstatic to launch our initial offering, Bridgit Bench in May 2019," said Mallorie Brodie, Chief Executive Officer and Co-Founder at Bridgit. "A short 18 months later, our platform is supporting some of the largest contractors with their resource planning efforts every day. We are heading into the new year ready to accelerate our product development and add additional value to our customers' resource planning efforts."
2020 has been a big year for the team at Bridgit. In July, the company announced a $7 million USD strategic investment led by technology giant Autodesk. Bridgit also deepened its integrations with key construction software platforms like Procore and Autodesk Construction Cloud. The company was also named to the Top Growing Canadian Companies and Top 40 Under 40 in Canadian Construction lists.
"Our partnerships with industry leaders like Autodesk and Procore are a huge testament to the importance of resource planning in the construction industry," said Lauren Lake, Chief Operating Officer and Co-Founder at Bridgit. "Contractors have been looking to move away from their manual resource planning methods to better optimize and predict staffing needs. It's great to be able to deliver a solution that impacts such an important part of these businesses."
Bridgit's construction resource planning software is adopted by 10% of the ENR top 400 and regional contractors
In the short 18 months since launch, Engineering News Record's (ENR) leading top 400 and regional contractors have adopted Bridgit's construction resource planning software to drive operational efficiency and workforce productivity. Bridgit Bench is currently leveraged by 10% of ENR contractors like Ryan Companies, Skanska, Katerra, and Balfour Beatty.
DeAngelis Diamond, ENR top 400 contractor and Inc. 5000 fastest-growing company, uses Bridgit Bench to improve resource planning workflows and build the best project teams with the right leadership, right skills, and right experience to achieve better project outcomes.
"Managing resources has always been a challenge for most construction companies. Now we have Bridgit Bench," said Reggie Morgan, Chief Operating Officer at DeAngelis Diamond. "Bridgit Bench has saved us a lot of time, in terms of managing our resources. It's great software, with great customer service. It's an awesome tool for us."
As a tech-forward construction company, DeAngelis Diamond looks for solutions to improve effectiveness, increase efficiency, and provide strategic insights – from business development throughout the entirety of the project and into warranty.
"The question for me has always been, how do you manage resources when 50% of your time is in the office and 50% of your time is in the field," shares Brian Hood, VP of Field Ops, about the difficulties of managing resources while moving from project to project. "Thanks to Bridgit Bench, regardless of where I'm at, I'm able to stay in touch with our resource plan and have vision into what is upcoming."
COVID-19's impact on construction workforce productivity
The pandemic has led to an ever-changing environment, especially in the construction industry. Since the beginning of 2020, Bridgit has experienced the following growth related to its workforce intelligence tool:
- 6X increase in unique users
- 4X increase in project plans updated
- 3.5X increase in roles added or updated
- 4X increase in projects updated
General contractors are using Bridgit Bench to track the impact of the pandemic across their employees and projects to mitigate exposure, forecast future project demands, and optimize their capacity planning to stay ahead of the curve during uncertain times.
The disruption brought on by the pandemic has provided general contractors the opportunity to re-evaluate their core processes. With ENR forecasting a slow road to recovery for non-residential and non-building construction in 2021, a strong emphasis is being put on using technology to improve operational efficiency and drive workforce productivity.
About Bridgit
Bridgit is a software company focused on developing mobile and web-based solutions for the construction industry. Bridgit's flagship solution, Bridgit Bench, is a construction resource management tool. Contractors are using Bridgit Bench to simplify project forecasting and resource allocation processes. Bridgit has raised over $15.7 million USD in equity financing, with capital from investors such as Autodesk, BDC, EDC, IAF, Salesforce Ventures, Sands Capital, and Stand-Up Ventures, among others. For more information, please visit www.gobridgit.com or follow @bridgitsolutions.
SOURCE Bridgit
