Welcome!

News Feed Item

BuildDirect Secures $30 Million to Continue Rapid Transformation of Home Improvement Products Industry

Advanced Web Analytics and Forecasting Tools Change Landscape for Home Improvement Products; Delivering Affordable and Quality Products to Consumers and Insights to Improve Manufacturing Efficiencies

VANCOUVER, Jan. 21, 2014 /PRNewswire/ - BuildDirect, a technology company reinventing how do-it-yourselfers to building professionals search for, sample and purchase heavyweight home improvement products, announced today that it has received CDN$30 million in financing. The Series B round is led by Mohr Davidow Ventures and supported by high profile Canadian investors including existing investor, BDC Venture Capital.

This latest round of financing will be used to fuel the company's growth, innovation and transformation of the US$492 billion building product marketplace by supporting the continued evolution of BuildDirect's proprietary technology platform, the expansion of BuildDirect's extensive product offerings and the rapid growth of the company's employee base.

"Despite its multi-billion dollar size, the home improvement product supply chain is fragmented and inefficient. In the past several years, BuildDirect has achieved phenomenal growth by effectively leveraging sophisticated predictive analytics to address gaps and inefficiencies in the home improvement products industry," said Katherine Barr, General Partner, Mohr Davidow Ventures. "With this latest round of funding, BuildDirect is well poised to fulfill its goal of transforming the home improvement industry by leveraging its innovative data analytics and technology platform."

Through an advanced technology platform plus analytic and forecasting tools, BuildDirect creates a simple and service-oriented online shopping experience where consumers enjoy savings of up to 80% for high quality products supported with free samples, coordinated shipping for goods that average 1500 lb and a 30-day satisfaction return guarantee with free shipping. Suppliers around the globe are able to reach an unlimited marketplace without sacrificing margins. BuildDirect also identifies and shares with suppliers in real-time, how a product is performing, forecasted trends and pinpoints production needs to help improve manufacturing efficiencies.

"Since its inception, BuildDirect has been steadfastly working to change the dynamics of the home improvement products industry," said Jeff Booth, CEO, BuildDirect. "As a builder I experienced the pain, complexity and lack of customer support when it came to finding high quality products at an affordable price. With goods changing hands multiple times from manufacturer to retail, these suppliers lose touch with consumer demand, their product costs' increase at each turn, and no one along the chain is willing to take responsibility for a missed deadline or product quality issue. The consumer assumes the padded costs and risks. This process does not make any sense."

By leveraging technology and combining BuildDirect's commitment of putting the customer first, the company creates a new landscape for how the home improvement market operates. Booth adds, "It was important for us to find a partner who not only reflected our commitment to completely re-inventing the home improvement industry, but our core values which help to drive our ability to hire and retain the best people. We feel that Mohr Davidow Ventures is the best true partner to help attain our ambitious goals."

Barr will join the Board of Directors and add her technology leadership and business vision to BuildDirect. Mohr Davidow Ventures invests in early stage technology startups that redefine or create large new markets, with notable investments such as 2013 IPO's Rocket Fuel (NASDAQ: FUEL) and Rally Software (NYSE: RALY), in addition to Kabbage, Coupa, Proofpoint (NYSE: PFPT), Shutterfly (NASDAQ: SFLY), Ticketfly, and Visible Measures.

About BuildDirect
BuildDirect is a technology company reinventing how do-it-yourselfers to building professionals search for, sample and purchase heavyweight home improvement products. Through an advanced technology platform plus analytic and forecasting tools, the company creates a simple and service-oriented online shopping experience where consumers enjoy savings of up to 80% for high quality goods, and offers real-time data for supplier forecasting to improve manufacturing efficiencies. BuildDirect is headquartered in Vancouver, BC with warehouses located throughout North America. For more information, visit www.BuildDirect.com.

About Mohr Davidow Ventures
For 30 years the Mohr Davidow Ventures (MDV) team has invested in early stage technology-based startups that redefine or create large new markets. The Firm partners with exceptional entrepreneurs to build companies where big data, applied analytics, and the reach and power of the web/mobile cloud can be leveraged to drive emerging opportunities in verticals ranging from social commerce to finance to online marketing and consumer-driven healthcare. Leading companies funded by MDV include: Agile (acq. NYSE: ORCL); Brocade (NASDAQ: BRCD); Coupa; HealthTap; Hotchalk; Infusionsoft; Kabbage; Proofpoint (NYSE: PFPT); Rally Software (NYSE: RALY); Rambus (NASDAQ: RMBS); Retention Science; Rocket Fuel (NASDAQ: FUEL); Ruby Ribbon; Shutterfly (NASDAQ: SFLY); Ticketfly; and Visible Measures. For more information, visit www.mdv.com.

SOURCE BuildDirect

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions wi...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.