TLDR:
- Ediphi secures $12 million Series A funding from Norwest Venture Partners to enhance cloud-based estimating solution for preconstruction.
- Previous seed funding of $6.5 million was led by Suffolk Technologies.
Ediphi, a cloud-based estimating solution, has announced a $12 million Series A funding round led by Norwest Venture Partners. This funding will be used to expand the team, invest in product innovation, and increase market share. The company’s solution aims to revolutionize estimating in construction by providing a cloud-native platform that accelerates the process, improves accuracy, scalability, and collaboration. The funding comes shortly after a $6.5 million seed round led by Suffolk Technologies.
Norwest Venture Partners’ partner, Sean Jacobsohn, highlighted the unique value proposition of Ediphi in a market dominated by legacy solutions. CEO Dustin DeVan, with a background in general contracting, aims to empower the construction industry with efficient preconstruction processes. The cloud-based solution allows for centralized data access, driving cost estimates, general conditions, and buy-out processes.
Ediphi’s mission is to empower those planning the built world by providing a modern, efficient cloud-based solution for estimating. The team, led by DeVan and CTO Michael Navarro, with 20 years of experience in preconstruction operations, is dedicated to transforming preconstruction processes for better decision-making and increased project success rates.
