The commercial contracting industry plays a critical role in keeping essential facilities like hospitals, factories, and large buildings running smoothly. Generating nearly $300 billion annually, it employs countless skilled professionals—electricians, HVAC specialists, and technicians—whose work often goes unnoticed but is vital for daily operations.
Despite this massive impact, commercial contractors have long been underserved by technology. Outdated software and inefficient workflows have left the industry struggling with delays, miscommunication, and lost productivity. Studies reveal that tradespeople spend only 30% of their time on hands-on work, while the rest is swallowed by paperwork, confusing instructions, missing materials, and slow approvals. These inefficiencies don’t just cost time—they rack up major expenses, delay critical repairs, and disrupt production lines.
That’s exactly the gap BuildOps set out to solve.
Based in Los Angeles, BuildOps developed its platform specifically for commercial contractors—ditching the repurposed residential tools that never truly fit. The startup’s AI-powered software connects field technicians, managers, and dispatchers in real-time, eliminating the noise that often slows projects down. By turning disorganized workflows into streamlined processes, BuildOps helps contractors regain control of their schedules and budgets.
Now, BuildOps is officially part of the unicorn club after closing a massive $127 million Series C round, pushing its valuation to $1 billion. The new funding will fuel the company’s expansion as it races to meet surging demand for its AI-driven platform.
Meritech Capital Partners led the round, with backing from Schneider Electric’s SE Ventures, BOND Capital, and returning investors such as Fika Ventures and Next47. Notably, BuildOps is also backed by Founders Fund, led by tech billionaire Peter Thiel.
Empowering Contractors with Real-Time AI Insights
Founded in 2018 by Alok Chanani, Steve Chew, and Neeraj Mittal, BuildOps is redefining how commercial contractors operate. Its platform automates repetitive tasks, delivers real-time project insights, and simplifies everything from service management to cost tracking—all powered by AI.
“What we’re doing now is giving contractors the ability to predict cost overruns before they even happen,” COO John Laino explained in an interview with Reuters. “In the past, they might not catch these overruns until months into a project—when it was often too late to fix.”
This level of foresight is changing the game for contractors, allowing them to make proactive decisions and avoid costly mistakes.
Hyper-Growth and Future Expansion on the Horizon
BuildOps has been on a rapid growth trajectory, doubling its revenue year over year. Yet, profitability isn’t the immediate goal. CEO Alok Chanani confirmed that the focus is squarely on scaling the business, investing heavily in R&D, and pushing product development to stay ahead of competitors.
“We’re in hyper-growth mode. Right now, it’s all about expansion—growing our market reach, adding new customers, and refining our technology,” Chanani shared.
Acquisitions could also play a big role in BuildOps’ growth strategy. In 2023, the company acquired PWSWARE, the parent company of Perfectware Solutions—a well-known software provider in mechanical contracting. Although financial details were not disclosed, the deal strengthened BuildOps’ capabilities and extended its market reach.
Could an IPO Be Next for BuildOps?
While there’s no set timeline, an IPO seems possible down the line. For now, BuildOps remains laser-focused on transforming the way commercial contractors work—cutting through red tape, boosting efficiency, and reclaiming hours lost to outdated systems.
With fresh funding, a strong product, and ambitious plans, BuildOps is ready to reshape the future of commercial contracting—one workflow at a time.
