Knowify Closes $5.45 Mln Funding Round to Bring Specialty Contractors to the 21st Century

Knowify, a construction startup based in New York, has raised $5.45 million in Series A funding to provide construction contractors with real-time data and productivity tools.

The funding round was co-led by MassMutual Ventures and Companyon Ventures, with participation from Dreamit Ventures and existing investors. The round brings the total funding raised by Knowify to $9.1 million and will allow it to accelerate its growth initiatives. Eric Emmons, Managing Director at MassMutual Ventures, referred to the round by stating:

“We’re excited to support Knowify as it revolutionizes the contracting industry, helping small-to-medium sized businesses simplify how they do business while providing additional visibility into their performance. Knowify is leading the charge to bring improved workflow, accounting, and project management capabilities to the SMB contractor market.”

Knowify was founded back in 2016 to offer specialty contractors web-based tools to improve the management of change orders and contracts, as well as the scheduling, time tracking, invoicing, and other tasks essential for their business. The startup will now allocate the money to strengthen brand awareness through the development of a go-to-market team. Marc Visent, CEO of Knowify, said in this regard:

“Knowify’s platform provides contractors with real-time, easy-to-understand data on project and overall business performance, allowing them to make better decisions and run a more efficient and competitive operation. We’re thrilled to have closed a Series A round with a strong investor syndicate that shares our vision, and look forward to putting the capital to work helping our customers know and grow their businesses.”

With specialty contractors who have struggled to access new technologies for the operation of their electrical, plumbing, and painting businesses, the construction industry has failed to adapt to the changing technological landscape. By providing a powerful yet-simple platform, Knowify believes it can bring the industry to the 21st century, benefiting businesses owners and consumers alike.