[Funding Alert] Construction Management SaaS Powerplay Raises $7M in Series A Led by Accel and Sequoia Surge
Construction management company Powerplay has raised $7.14 million in Series A funding led by existing investors Accel and Sequoia Surge. India Quotient and the founders of Snapdeal also joined the round.
This is Powerplay’s second funding round in the past 13 months. In June last year, the startup raised $5.2 million in Series A from the same investors. The company will use the latest capital injection to develop its core business.
Since its inception in 2020, Powerplay has raised a total of approximately $13 million. Accel has been instrumental in helping Powerplay create product strategy, and Sequoia’s Surge program has helped them connect with a community of Surge founders who are far ahead in their respective fields.
Founded by Iesh Dixit and Shubham Goyal, Powerplay is a complete SaaS platform for construction management that simplifies communication and synergizes collaboration between construction sites and central office teams. Trade contractors, general contractors and builders manage site work, materials and labor at Powerplay.
Iesh Dixit, co-founder and CEO of Powerplay, said: “Our previous funding helped us increase the size of the team and we have nearly doubled in size since then. We aim to deepen our roots by supporting our core business and expanding our branches by developing an easy-to-use construction management platform for construction companies around the world. Having a competitive advantage in the market by being a first mover and having such large investors supporting our product is the sky limit.
Shubham Goyal, technical director of Powerplaysaid, “It would reduce human intervention and help us scale faster. As we expect our operating system user base to grow, we are committed to providing a seamless experience as we evolve.
According to Powerplay, the company will strive to create self-service software and create intuitive product flows.