Construction build tracking startup banks $6.6 million

Skip Capital has led a $6.6 million raise for a construction tech platform that keeps track of quality and compliance during a build.

The first raise for three-year-old Melbourne startup Visibuild was also backed by unnamed private and non-institutional investors, with the funding earmarked for product development as the business looks to expand across Australia and into new markets.

The software platform is similar to the checklist approach of workplace safety app SafeCulture in monitoring tradies during construction, requiring them to complete quality assurance via the Visibuild app, so progress can be tracked as part of the project management.

Cofounder and CEO Damien Quinn, a veteran builder who worked for Multiplex, said Visibuild’s onsite quality checking tool helps subcontractors ensure they build to the right specifications, avoiding rework and costly errors.

More than a fifth of construction costs involve avoidable errors, while productivity issues extend project timelines by 20% too.

Visibuild partners with builders, developers and subcontractors to address non-compliance, minimise errors and reduce rework and commercial risks. Since launching, it has tracked 700 projects and currently has more than 1,800 companies using its software. The platform has reportedly cut defect costs by 50% for users.

“Visibuild’s mission is to set a new standard for quality assurance in the construction industry,” Quinn said.

“Persistent productivity challenges, inefficiencies and cost overruns continue to burden the sector, often stemming from gaps in quality assurance practices. By fostering cultural change throughout the supply chain, we aim to elevate industry standards and improve outcomes for all stakeholders.”

He hopes to develop the data collection during construction to the point where it can provide real-time updates on the construction.

Skip Capital CEO and cofounder Kim Jackson said Visibuild is tackling a critical challenge in construction

“Their approach will bring real-time visibility and accountability to building sites around the country,” she 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.”