Surprisingly Useful AI Article Enhancements
Visibuild, a Melbourne-based construction technology company, has secured $6.6 million in its first funding round, led by Australian private investment firm Skip Capital. The funding will drive product development aimed at improving efficiency, quality assurance, and sustainability in the construction industry.
Tackling Costly Construction Challenges
The construction sector faces significant challenges, including productivity losses and avoidable errors. Visibuild estimates that 21 per cent of construction costs are tied to errors and that extended project timelines result in a 20 per cent productivity gap. Visibuild’s platform addresses these issues with an onsite quality checking tool designed to help subcontractors meet specifications, reducing the likelihood of rework and expensive mistakes.
“Persistent productivity challenges, inefficiencies, and cost overruns continue to burden the sector, often stemming from gaps in quality assurance practices,” said Damien Quinn, Co-founder and CEO of Visibuild. “By fostering cultural change throughout the supply chain, we aim to elevate industry standards and improve outcomes for all stakeholders.”
A Platform Built on Experience
Founded three years ago by professionals with experience at companies like Multiplex and Amazon, Visibuild works with builders, developers, and subcontractors to minimise non-compliance and reduce rework and risks. The platform has been used on 700 projects, with over 1,800 companies now leveraging the software. Clients include BESIX Watpac, Built Environs, Kapitol Group, Icon, and Delta Group.
Some customers have reported significant results, such as cutting defect costs by more than half. Visibuild is also heavily involved in projects for hyperscale data centres, where quality control is paramount.
“Visibuild’s mission is to set a new standard for quality assurance in the construction industry,” Quinn added. “We’re thrilled to have Skip Capital’s support as we expand across Australia and into new markets. Their expertise in infrastructure investment and project management software will be invaluable as we drive Visibuild’s growth globally.”
Support from Skip Capital
Skip Capital, one of Australia’s largest family offices, sees Visibuild as addressing a critical gap in the construction sector. Kim Jackson, CEO and Co-founder of Skip Capital, emphasised the impact of Visibuild’s approach.
“Visibuild is tackling a critical challenge in construction, and their approach will bring real-time visibility and accountability to building sites around the country,” Jackson said. “The scale of the opportunity before the team is vast, and we’re excited to be on this journey with Visibuild as they expand their reach and impact across the construction landscape.”
Skip Capital has a history of supporting high-growth technology companies. Its portfolio includes investments in Canva, Airwallex, Figma, CultureAmp, and 1Password.
Aiming for Industry Transformation
Visibuild’s tools aim to address inefficiencies and restore confidence in Australia’s construction sector. By providing a mobile and web platform that integrates compliance and quality assurance workflows into broader project management, the company is helping the industry reduce errors and improve project outcomes.
For more details, visit www.visibuild.com.au.
About Visibuild
Visibuild is an Australian software-as-a-service business focused on quality and compliance in construction. Its tools are designed to minimise errors, improve efficiency, and foster accountability among subcontractors, builders, and developers.
Last Updated on December 3, 2024 by Nick Ross
