CEDAR RAPIDS, Iowa, Aug. 20, 2020 /PRNewswire/ -- MSUITE proudly announces completing a $4 million seed funding round led by growth venture capital firms Next Level Ventures and Stanley Ventures, and a strategic investment from AEC technology firm, U.S. CAD. The new capital will help scale all company areas and accelerate innovation of its cloud-based platform already trusted by many ENR Top 600 Specialty Contractors firms.
As MEP and Modular firms look for ways to come out of the economic downturn, many are adopting disruptive technologies with the potential to provide the efficiency, productivity, and safety breakthroughs the industry has sought for decades. MSUITE's SaaS platform revolutionizes how disparate teams in design, fabrication, and jobsite construction collaborate to increase productivity and reduce construction costs. MSUITE features a cloud-based solution that connects the BIM-to-FABRICATION-to-FIELD CONSTRUCTION workflows with an easy-to-use, scalable, and industry-focused software which provides automatic real-time status updates, and valuable tracking and estimating information.
"Unlocking the door of communication between BIM, Fab, and Field teams has been a significant challenge for Contractors, which led to the founding of MSUITE in 2015 (previously called FabPro), said Britton Langdon, President at MSUITE. "Through our new partnership with our Investors, MSUITE is well-positioned to continue triple-digit growth and enhance our technology to meet the demands of MEP Contractors and Modular Builders worldwide."
CONSTRUCTION TECH BRINGS SIGNIFICANT BOOST IN PRODUCTIVITY
The industry impact of utilizing MSUITE's solutions is substantial for MEP and Modular Construction firms looking to increase productivity, flatten communication, and reduce costs. Recent MSUITE customer workflow studies highlight a 40% Increase in productivity in shops across the US and Canada. A 90% reduction in Spool Sheet Creation Time vs. Competitive Methods, and a 20% reduction in Time Spent Communicating KPIs with Key Project Stakeholders on all construction projects.
"One of the most important factors to control cost and quality in the mechanical contracting industry is to enable multiple teams to work together in a seamless workflow. Having a second-to-none fabrication team work seamlessly with the Detailers and onsite construction crews makes MSUITE's innovative technology unique and remarkable," said David Conley, Director of Manufacturing at Lee Company.
"Post Covid-19, MEP Construction firms are pushing the envelope to increase productivity, reduce costs, and increase communications. MSUITE allows our staff to manage pre-fabrication operations at a distance and build efficiently," said Chris Canter, Director of Virtual Design Construction and Fabrication atShapiro and Duncan.
"MSUITE empowers our design team to efficiently collaborate with fabrication and construction teams to produce drawings at an unprecedented rate, said John Trammell, Director of VDC Technologies at The Brandt Companies. "MSUITE is crucial to helping Brandt deliver superior designs and accurate fabrication to commercial and industrial facilities across Texas."
"MSUITE solutions like BIMPro provide my team the flexibility to work with whichever model content they are most familiar with and provides the deliverables with the necessary metadata to support our downstream mechanical and plumbing processes," said Aaron Ball, Director of BIM at Katerra. "Their innovative solutions to long-standing process issues are pivotal to my team's end-to-end goals. I look forward to growing with them."
INVESTING IN CONSTRUCTION TECHNOLOGY
"We are thrilled to partner with MSUITE and share its mission to revolutionize the construction industry with groundbreaking cloud-based data-sharing and communication technology," said Scott Hoekman, Principal at Next Level Ventures.
"MSUITE takes a differentiated approach to solving the needs of the construction industry. By creating an easy-to-use, modular platform, the company empowers MEP firms to automate a substantial workflow to achieve major cost savings," said Larry Harper of Stanley Ventures. "We're excited to be part of this next stage of growth."
"We continue to be excited with the growth and trajectory of MSUITE," said Daniel Counts, CEO at U.S. CAD. "The productivity solutions in BIMPro and the management software in FabPro and FieldPro make MSUITE and unmatched leader in full life-cycle project management for MEP and modular builders. We are eager to be a part of MSUITE's meteoric growth."