Built Technologies, a construction finance platform based in Nashville, Tennessee, raised $125M in a Series D funding round, valuing the company at $1.5 billion.
TCV led the investment, and Brookfield Technology Partners, 9Yards Capital, XYZ Venture Capital, and HighSage Ventures also invested. In addition to other individual investors, they joined existing investors such as Lee Fixel’s Addition, Index Ventures, Canapi Ventures, GreenPoint Partners, Nine Four Ventures, Fifth Wall, Goldman Sachs, and Nyca Partners.
The money will be used by the business to expand internationally, enhance its team, and expedite the supply of new goods to contractors, home builders, and real estate developers.
Built, led by CEO Chase Gilbert, connects commercial and consumer construction lenders, real estate developers, commercial general contractors, residential homebuilders, specialty contractors, title companies, and other key industry vendors through cloud-based construction finance technology, enhancing the flow of capital through the construction ecosystem.
Built allows lenders to invest money in residential and commercial construction projects while integrating with their existing core systems. Built is actively creating new solutions for business and residential owners, developers, and construction industry experts, including compliance tracking, AP/AR automation tools, payment administration, and insurance services.
Over 200,000 business, homebuilder, land development, and consumer residential projects totaling over $135 billion in construction value have been funded via the platform since its introduction in 2015.
