|By PR Newswire||
|January 21, 2014 07:00 AM EST||
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.
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.
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Nov. 30, 2015 02:00 PM EST Reads: 362
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
Nov. 30, 2015 01:45 PM EST Reads: 426
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
Nov. 30, 2015 01:45 PM EST Reads: 432
Most of the IoT Gateway scenarios involve collecting data from machines/processing and pushing data upstream to cloud for further analytics. The gateway hardware varies from Raspberry Pi to Industrial PCs. The document states the process of allowing deploying polyglot data pipelining software with the clear notion of supporting immutability. In his session at @ThingsExpo, Shashank Jain, a development architect for SAP Labs, discussed the objective, which is to automate the IoT deployment proces...
Nov. 30, 2015 01:12 PM EST
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Nov. 30, 2015 01:00 PM EST Reads: 537
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
Nov. 30, 2015 12:45 PM EST Reads: 288
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Nov. 30, 2015 12:45 PM EST Reads: 342
Countless business models have spawned from the IaaS industry – resell Web hosting, blogs, public cloud, and on and on. With the overwhelming amount of tools available to us, it's sometimes easy to overlook that many of them are just new skins of resources we've had for a long time. In his general session at 17th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, an IBM Company, broke down what we have to work with, discussed the benefits and pitfalls and how we can best use them ...
Nov. 30, 2015 11:45 AM EST
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
Nov. 30, 2015 11:00 AM EST Reads: 217
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and t...
Nov. 30, 2015 10:45 AM EST Reads: 462
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...
Nov. 30, 2015 10:30 AM EST Reads: 353
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
Nov. 30, 2015 10:00 AM EST Reads: 290
The cloud. Like a comic book superhero, there seems to be no problem it can’t fix or cost it can’t slash. Yet making the transition is not always easy and production environments are still largely on premise. Taking some practical and sensible steps to reduce risk can also help provide a basis for a successful cloud transition. A plethora of surveys from the likes of IDG and Gartner show that more than 70 percent of enterprises have deployed at least one or more cloud application or workload. Y...
Nov. 30, 2015 09:00 AM EST Reads: 506
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true ...
Nov. 30, 2015 08:00 AM EST Reads: 565
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem"...
Nov. 30, 2015 07:00 AM EST Reads: 468