Ediphi Secures $12 Million in Series A Funding from Norwest Venture Partners to Scale Team and Strengthen Cloud-Based Estimating Solution for Preconstruction

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Ediphi, a leading provider of cloud-based estimating solutions, has secured $12 million in Series A funding, led by Norwest Venture Partners. This funding round aims to support the expansion of the Ediphi team, invest in research and development for product innovation, and increase market share within the construction industry.

Following a previous $6.5 million seed funding round in November 2023, led by Suffolk Technologies, this latest investment underscores the growing demand for modernizing preconstruction processes. Ediphi's cloud-native solution aims to revolutionize the industry by streamlining the estimating process, reducing time and costs, and improving accuracy, scalability, and collaboration.

According to Norwest partner Sean Jacobsohn, Ediphi's innovative approach addresses the shortcomings of traditional, manual estimating methods, which still dominate the industry. By offering a cloud-based solution, Ediphi enables contractors to access comprehensive estimating tools from anywhere with an internet connection, facilitating faster decision-making and more efficient workflows.

CEO Dustin DeVan, drawing from his extensive experience in the construction industry, including his previous success with BuildingConnected, emphasizes the importance of empowering construction professionals with modern technology. Together with CTO Michael Navarro, Ediphi is poised to continue disrupting the preconstruction market and driving industry-wide transformation.

For more information about Ediphi and its cloud-based estimating solution, visit ediphi.com.

Original article posted on March 21, 2024









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