BiltOn, formerly known as Beti, has announced the successful completion of a $15 million Series B funding round. This investment, led by PSG Equity, a growth equity firm specializing in technology and software-enabled services, comes alongside a rebranding initiative aimed at reflecting the company's commitment to improving construction operations and risk management. Additional participation in the funding round was provided by Titan Capital and 97212 Ventures.

Strategic Leadership Addition

As part of the new funding arrangement, Jeff Wilpon, CEO of Sterling Project Development, has joined BiltOn's advisory board. With extensive experience managing over $10 billion in construction projects across multiple sectors, Wilpon's insights are expected to enhance BiltOn's strategic direction and operational execution.

Expanding Platform Features and Functionality

Since its inception in 2018, BiltOn has focused on empowering construction owners and general contractors to manage workforce, safety, and compliance during various phases of construction. The platform offers a comprehensive suite of features accessible via both web and mobile devices. Notable tools include 3D facial recognition for workforce verification, automated time tracking for payroll, daily logs, incident reporting, safety checklists, permit management, and certification tracking. These functionalities are designed to centralize critical data, thereby enhancing project oversight and assisting users in navigating complex regulatory landscapes.

BiltOn currently supports over 1,200 construction companies across more than 3,000 active job sites worldwide, spanning diverse construction sectors such as civil, industrial, commercial, residential, and healthcare. Since its launch in the United States, BiltOn has seen significant growth, expanding its team to over 70 employees. Among its prominent clients are well-known general contractors like Consigli, Rudin, Hunter Roberts, SD Builders, and OKO Group.

Enhancing Risk Management and Compliance

BiltOn's software suite is strategically designed to improve workflow management, bolster safety monitoring, and streamline compliance processes. The platform's proprietary risk scoring system offers real-time insights into potential risks, workforce activity, permitting, and overall project safety. While individual outcomes may vary, these capabilities are intended to help mitigate risks and enhance project efficiency across job sites.

Omer Slavin, founder and CEO of BiltOn, expressed confidence in the technology's potential to transform how owners and contractors manage compliance and operational efficiency. By providing real-time data and automation, BiltOn aims to empower contractors to navigate the complexities of construction operations with greater assurance.

Seamless Integration and Compliance Standards

BiltOn's platform seamlessly integrates with popular construction management tools, including Procore and Autodesk, ensuring that users can streamline their project management processes effectively. Moreover, BiltOn complies with standards set by the New York City Department of Buildings, providing a systematic approach to managing project data and adhering to regulatory requirements. While there is no guarantee of outcomes, BiltOn's technology is designed to help reduce site risks, lower insurance claims, and improve Experience Modification Rates (EMR) scores.

National and Global Expansion Plans

The funding obtained through this Series B round is expected to support BiltOn’s expansion efforts throughout the United States and beyond. The company plans to further enhance its platform’s features and capabilities while increasing its market presence. With a solid foundation of clients and strong financial backing, BiltOn is well-positioned to capitalize on its growth trajectory.

BiltOn's successful $15 million Series B funding round, coupled with its rebranding initiative, highlights the company’s commitment to enhancing construction operations and risk management. As the platform continues to evolve, its comprehensive suite of tools and features aims to provide construction professionals with the necessary resources to improve safety, compliance, and overall project efficiency. With the guidance of experienced industry leaders like Jeff Wilpon and the backing of PSG Equity and other investors, BiltOn is poised to make a significant impact on the construction sector as it expands its reach nationally and globally.