Software Startup BuildingConnected Closes $22 Million

BuildingConnected completed a $22 million Series B financing that was led by Lightspeed Venture Partners. Crosslink Capital, Homebrew Ventures, Freestyle Capital, Bee Partners and Brick & Mortar Ventures also participated.

BuildingConnected provides builders with cloud-based bid procurement services to send invitations to bid for jobs, qualify vendors, and track opportunities. Real estate owners and developers can also leverage BuildingConnected’s network of builders, view historical costs, and get real-time analytics. According to the company, there are 1.5 million solicitations worth $75 million that are sent out each month on the BuildingConnected platform.