Bridgit announces $7 million investment led by Autodesk

TORONTO — Construction workforce planning software company Bridgit recently announced it has raised a US$7 million investment led by Autodesk with support from EDC as well as existing investors Salesforce Ventures, Sands Capital, BDC and Standup Ventures.

The company will use the investment to “to increase its aggressive pace of technology innovation, add new partner integrations and build more advanced features, all of which will help contractors better understand their workforce utilization and resource planning,” a release stated.

“Over the last three months, Bridgit has experienced a 72 per cent increase in usage across our customer base, both in the U.S. and Canada. With construction recently restricted and projects delayed, contractors have needed to shift their processes and are demanding the workforce data and insights that Bridgit provides,” Bridgit CEO and co-founder Mallorie Brodie said in the statement.

“The new funding will allow us to empower contractors to use their resources effectively, build more efficiently, and with Autodesk, have a more complete picture of people and projects across their organization.”

In addition to Bridgit, Autodesk has also recently invested in other construction-focused software such as Aurigo, which provides enterprise software products for planning, building and maintaining large capital assets and infrastructure. Autodesk also acquired Assemble and PlanGrid in 2018 and BuildingConnected in 2019.

“Planning and managing resources for construction projects is difficult in the best conditions, and today’s work environment creates even greater challenges,” said Autodesk Construction Solutions vice-president and general manager Jim Lynch.

“Bridgit gives contractors greater visibility and control by providing them with the actionable insights they need to optimize resources for project success and long-term business resiliency. The strong adoption of Bridgit’s solution underscores the value of connecting people and data across the entire building lifecycle.”

Located in Ontario and founded in 2014, Bridgit has raised US$15.7 million inclusive of this round. In 2019, Bridgit launched Bridgit Bench, a construction workforce planning platform.