Outbuild Secures $11 Million in Series A Funding, a Key Step in Supporting On-time Completion for Construction Projects Globally

SAN FRANCISCO, Nov. 12, 2024 /PRNewswire/ -- Outbuild, a construction scheduling and planning software company, today announced it has raised $11 million in Series A Funding. The round was led by Sway Ventures with participation from Hilti Venture, Trimble Ventures, and venture capital firms BGV and Zacua Ventures. This investment will help drive a targeted 100% increase in Outbuild's commercial growth by Fall 2025, support significant team expansion, and advance a product roadmap that includes artificial intelligence.

"We are honored to partner with such a strong group of investors who share our goal of advancing the construction industry through holistic, yet simplified, scheduling and cross-team collaboration," said Franco Giaquinto, CEO, Outbuild. "This investment marks a significant step forward in delivering improved project outcomes for the dedicated construction professionals and end users we serve."

The construction industry faces significant challenges in meeting project timelines, with KPMG reporting that 75% of construction projects experience delays. These setbacks are reported to lead to costly overruns and late project completions. According to Giaquinto, Outbuild was founded as the first startup in the space to address these critical issues by consolidating scheduling, lookaheads, weekly plans and analytics into one unified solution.

With the support of Hilti and Trimble, two prominent leaders in the construction technology industry, Outbuild aims to integrate advanced functionalities to improve real-time project planning and construction management. Additionally, Sway Ventures, BGV, and Zacua Ventures bring expertise in scaling enterprise technology startups. According to Giaquinto, their involvement will contribute to expanding market presence and driving ongoing and future innovation.

"Outbuild is helping to solve one of the most persistent challenges in construction—keeping projects on time and on budget, while minimizing risk," said Brian Nugent, Founding General Partner Sway Ventures. "Their solution to scheduling and team collaboration will fundamentally transform how the industry approaches project planning and execution."

Outbuild is currently being implemented on over 4,000 projects throughout 10 countries. Select general contractors across the country leveraging Outbuild include Greystar, Andres, McAlvain, Skender and Warfel.

"The reason we really like Outbuild is that it brings everything together," said Ben Stocker, Senior Construction Technologist, Skender. "The schedule and the look-ahead plan communicate with each other, and there's mobile access, making it easy to share with people."

About Outbuild:
Founded in 2021, Outbuild is a cutting-edge scheduling and planning software solution designed to enhance project management in the construction industry. As the only platform that allows users to build their schedules, lookaheads, and weekly work plans within one integrated ecosystem, Outbuild offers a holistic approach to project planning. With a focus on Last Planner® principles, Outbuild streamlines workflows and improves collaboration among teams. The platform provides real-time insights and project analytics through customizable dashboards, empowering construction professionals to optimize scheduling, increase efficiency, and reduce delays. Outbuild's user-friendly interface and robust features make it an essential tool for achieving better project outcomes.

About Sway Ventures:
Sway Ventures is a US-based venture capital firm investing in early to mid stage technology companies. They invest in high performing teams creating the next enterprise or consumer category. Sway Ventures is the venture capital arm of Sway Capital, a global platform for alternative investments. Sway transforms capital into catalysts, investing in tomorrow's breakthroughs by harnessing entrepreneurial innovation and institutional expertise to build a new paradigm in asset management. Their multi-strategy approach spans private equity, private credit, impact, media and advisory. From their venture studio to growth equity investments, they are not just funders – they are partners in industry transformation and category creation.

CONTACT: 
Ashley Greybar
Outbuild
[email protected]

SOURCE Outbuild