MIAMI, Feb. 12, 2019 /PRNewswire/ -- Rokk3r Fuel ExO has invested $500,000 in construction technology company Eyrus. The bridge fundraising round brings Eyrus' total funding to date to more than $3 million, and grows the Rokk3r Fuel portfolio to a total of seven companies.
Founded in 2015 in Washington, D.C., Eyrus set out to address obstacles that have historically prevented construction projects to progress efficiently and within scheduled timeframes, from gaps in communication among contractors and subcontractors to process reporting delays. The Eyrus platform, conceptualized by co-founders experienced in engineering, construction and architecture, provides workforce intelligence through on-site trade resource data and project analytics in real time. To date, Eyrus has delivered its partners more than $25 million in cost savings, in addition to collectively sparing over 80,000 management hours.
"Rokk3r Fuel was founded with the goal of empowering innovators whose ideas have the potential to shift paradigms and improve industries at scale, effectively changing the lives of millions. Eyrus is a perfect fit for our portfolio," said Rokk3r Fuel managing director Jeff Ransdell. "The construction industry is long overdue for a 'software update,' and Eyrus is primed to singlehandedly overhaul the sector."
The capital injection provided by Rokk3r Fuel will enable Eyrus to hire new staffers across sales and marketing divisions, among other scaling measures, further extending Eyrus' reach across the fast-growing contech space. New product releases within the Eyrus platform are also among growth measures expected for the coming months.
"We are pleased to formalize our relationship with Rokk3r Fuel," said Alexandra McManus, co-founder and CEO of Eyrus. "Their deep experience helping founders maneuver and master IoT and data analytics in ambitious problem-solving endeavors aligns with Eyrus' long-term strategy to transform the construction marketplace. This partnership will streamline our trajectory and deeply enhance our value to current and future partners."
Eyrus COO and co-founder Hussein Cholkamy echoed McManus. "The partnership and funding provided by Rokk3r Fuel will expedite the deployment of the next generation of Eyrus products. We are excited about this opportunity."
About Rokk3r Fuel ExO
Rokk3r Fuel ExO is a venture capital firm geared toward early- to later-stage companies propelled by exponential technologies. Founded in 2017, Rokk3r Fuel is industry agnostic in its venture sourcing, targeting instead exceptional entrepreneurs with experience and vision. The firm's "founder focused, investor driven" approach is led by a core team with more than 60 years of combined experience in investment banking, wealth management and executive leadership. Rokk3r Fuel portfolio companies include HYP3R, Taxfyle and AdMobilize. Rokk3r Fuel is headquartered in the Wynwood Arts District of Miami, Florida. To learn more, visit rokk3rfuel.com or follow Rokk3r Fuel on Twitter, LinkedIn, Instagram and Facebook.
Eyrus is a real-time productivity tool that creates actionable insights directly from your construction workforce. Automated data collection provides a continuous stream of information delivered from the field to you – any time, anywhere. Eyrus increases efficiency onsite, reduces claims and disputes, recovers lost time faster, and improves safety and quality. Through data transparency, Eyrus enhances collaboration and empowers teams to make the proactive decisions that matter. Headquartered in Washington, D.C., Eyrus reaches nationwide and provides workforce data for construction projects totaling over $15 billion. Learn more at eyrus.com.
For more information or media inquiries, contact:
Debora Lima | email@example.com
SOURCE Rokk3r Fuel