Construction tech company GoContractor raises $5m

Company to relocate to the US following investment led by Boston’s Building Ventures

 

GoContractor is to relocate its headquarters from Dublin to the US to take advantage of opportunities there after raising $5 million (€4.2 million) from backers.

Previously known as Initiafy, the company has developed an onboarding and subcontractor management platform for the construction sector. Founded by Seán Fennell and Julie Currid in 2012, it recently partnered with the Construction Industry Federation to help more than 150,000 workers return to projects after the lifting of lockdown restrictions.

In the US, where GoContractor has been particularly focused, it counts more than 10 of the top general contractors as clients.

GoContractor, whose Irish clients include Sisk, Roadbridge, PM Group, Ardmac and the ESB, claims its platform can get construction workers on site faster, while also reducing compliance risk and improving safety.

Overall, the company has registered more than 500,000 construction workers across about 1,000 firms.

Boston-based Building Ventures led the Series A round, with Ironspring, a Texas-headquartered venture capital firm, also participating. Overall, the company has raised $14.6 million.

“GoContractor is delighted to partner with Building Ventures and to join their truly world class portfolio of companies,” said chief executive John Naughton.

“Seeing their real passion and commitment to the industry is truly refreshing and we’ve realised that it’s a big deal to have BV in our corner,” he added.

Other backers of the company over the years include former Independent News & Media chairman Leslie Buckley; ex-Irish Life & Permanent chief financial officer Peter Fitzpatrick; and Barry Bowden, managing director of Rubicon Capital and also formerly of IL&P. Former Saon group chair Maria Mahon, serves as GoContractor’s chairwoman.