Billd Secures $17.5M Funding Round to Supercharge Growth, Expand Product Suite

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Oct 29, 2024, 09:00 ET

AUSTIN, Texas, Oct. 29, 2024 /PRNewswire/ -- Billd, the leading provider of financial solutions for commercial subcontractors, announced its latest investment round today, securing $17.5M in strategic funding. This investment helps accelerate Billd's mission, further solidifying the company's role as an indispensable partner to subcontractors and empowering the organization to continue driving innovation in construction finance.

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For years, subcontractors have operated within a financial system unable to meet their specific capital needs. Billd was created to solve this challenge by providing access to working capital designed for the construction industry. This investment signals the market's confidence in Billd's ability to revolutionize construction supply chain finance.

The round was led by LL Funds and MissionOG, with RJT Credit, Ulysses Management, and HighSage Ventures also participating. This marks the first investment from MissionOG, a growth equity firm with deep expertise in fintech and lending, and HighSage Ventures. Together, these companies are dedicated to Billd's mission to expand financial solutions to meet the ever-growing demands of the construction industry.

"This investment represents a significant milestone for Billd," said CEO Chris Doyle. "Our investors understand the complexities our customers face and share our commitment to empowering subcontractors. By working together, we are in a stronger position to accelerate our growth, expand our reach, and innovate at a pace that meets the evolving needs of our customers."

"Billd's unique financial solutions enable subcontractors to grow their business, instead of being held back by capital constraints," said Raj Mundy, partner at LL Funds. "We're proud to back Billd as they continue to grow and expand their efforts."

Billd has achieved 120% revenue growth from 2021 to 2024, and this strategic funding round allows the company to enhance its product suite and refine its direction to ensure Billd remains at the forefront of solving subcontractor pain points.

"MissionOG is excited to partner with Billd to further accelerate the growth of the company's financial solutions for an industry that historically has been stacked against subcontractors," said Andy Newcomb, managing partner at MissionOG. "We are impressed with Billd's reputation within its core market, the significant adoption of its solutions, and the fantastic growth opportunity to continue to be a difference maker in this large and important ecosystem. Above all else, we could not be more pleased with the Billd team and their ability to execute on this shared vision."

Chris Doyle said, "We are more committed than ever to our role as Champion of the Subcontractor. This opportunity allows Billd to continue our long-term goal to develop unparalleled solutions for subcontractors nationwide."

About Billd: Billd stands alone as a partner that truly champions the subcontractor. Founded in 2018 by two industry veterans in both construction and finance, Billd's construction-specific financial and payment products empower subcontractors to overcome the impacts of the longstanding broken payment cycle in construction. Billd offers access to working capital solutions to cover subcontractors' most pressing costs, including materials and labor, providing flexible credit to accommodate the unpredictability of cash flow in construction. Billd's patented analytic and financing methodology allows subcontractors to stabilize cash flow and more effectively grow their businesses. Learn more at Billd.com

SOURCE Billd