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Commercial services platform BuildOps becomes a unicorn, raises $127M

Commercial services platform BuildOps becomes a unicorn, raises $127M

  • 21.03.2025 06:45
  • techcrunch.com
  • Keywords: AI, Startup, Market Growth, Revenue Drop

Commercial services platform BuildOps becomes a unicorn after raising $127 million in Series C funding led by Meritech Capital, valuing it at $1 billion. The company provides AI-powered software for commercial contractors to streamline operations, helping them boost efficiency and profitability. With over 1,000 customers, BuildOps plans to use the new capital for expansion, product development, and strategic acquisitions.

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Estimated market influence

BuildOps

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BuildOps is a commercial services platform that has raised significant funding and achieved unicorn status. It uses AI-powered automation to help contractors improve efficiency and profitability.

Meritech Capital

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A leading investor in BuildOps' Series C round, contributing to the company's growth and valuation increase.

Bond Capital

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Participated in BuildOps' Series C funding, supporting its expansion and product development.

Schneider Electric’s SE Ventures

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Invested in BuildOps to aid in scaling and technological advancements within the commercial services sector.

Fika Ventures

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Provided support through their investment in BuildOps, contributing to its exponential growth.

Next47

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Invested in BuildOps, aiding in the company's expansion and market presence.

StepStone Group

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Supported BuildOps' growth through their investment, contributing to its success in the commercial services sector.

Titanium Ventures

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Invested in BuildOps, helping the company achieve significant milestones and market valuation.

01A (formerly O1 Advisors)

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An early investor in BuildOps, contributing to its growth journey from an early stage.

Founders Fund

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Provided crucial early-stage funding to BuildOps, supporting its development and market expansion.

MetaPrio B Capital

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Invested in BuildOps, aiding in the company's scaling and technological innovations.

137 Ventures

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Supported BuildOps' growth through their investment, contributing to its exponential revenue increase.

Liquid2

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An early investor in BuildOps, helping the company achieve significant milestones and market presence.

Context

Analysis and Summary: BuildOps Becomes a Unicorn

Key Facts and Data Points

  • Funding Round: Series C raise of $127 million led by Meritech Capital, valuing the company at $1 billion post-money.
  • Previous Valuation: More than doubled from its last financing in May 2023.
  • Total Funding: Over $250 million raised to date.
  • Founded: 2018, Los Angeles-based.
  • Customers: Over 1,000 commercial contractors including J.H. Kelly, Haynes Mechanical, Dynamic Systems Inc., and Baker Electric.
  • Revenue Growth:
    • Launched in 2020 with revenue exceeding seven figures.
    • Tripling annual revenue in 2021 and 2022.
    • Doubling revenue in 2023 and 2024.
  • Employees: 375 as of March 2025, up 50% year-over-year.

Market Opportunity and Industry Impact

  • Underserved Segment: Commercial services tech is a massive but historically underserved market in the U.S. and Canada.
  • AI-Powered SaaS Solution: BuildOps provides AI-driven tools for project management, service dispatching, and invoicing, addressing inefficiencies in the commercial contracting sector.
  • Revenue Potential: The company’s exponential growth highlights strong demand for modern software solutions in a traditionally tech-lagging industry.

Competitive Landscape

  • Differentiation: BuildOps’ focus on the commercial sector allows it to tailor its product to highly configurable needs, unlike broader enterprise platforms.
  • Customer Impact: Contractors report significant operational and financial improvements using BuildOps, including reduced downtime and errors.
  • Strategic Acquisitions: BuildOps plans to use new capital for API development and strategic acquisitions to further expand its market presence.

Strategic Considerations

  • Focus on Scaling: The company is prioritizing aggressive scaling over profitability in the near term.
  • Investor Interest: Notable investors include Bond Capital, Schneider Electric’s SE Ventures, Fika Ventures, and 01A (founded by former Twitter executives).

Long-Term Effects and Industry Implications

  • Transformation of Commercial Services: BuildOps’ success signals a shift in the commercial contracting industry toward modern, AI-driven tools.
  • Regulatory Impact: While not explicitly mentioned, the adoption of advanced software could influence future regulatory requirements for contractor compliance and efficiency.

Conclusion

BuildOps’ unicorn status reflects the growing recognition of the potential in the commercial services sector. Its focus on innovation, customer-centric solutions, and strategic investments positions it as a leader in an underserved market with significant long-term growth opportunities.