San Diego’s eSub raises $12 million for its construction management software
The San Diego-based software developer eSub Construction Software has raised $12 million in a new round of financing for its project management platform for contractors.
The company’s funding was led by Catalyst Investors with participation from previous investor Revolution Ventures.
Software for the construction industry is becoming a big business and attracting more capital from investors. Construction management software vendor Procore is now worth $3 billion, thanks to a $75 million investment late last year from Tiger Global.
Indeed, unicorns are galloping across the construction industry these days. SoftBank kicked off 2018 by investing $865 million in Katerra — one of many early mega-deals from the firm’s giant Vision Fund — which touts itself as a one-stop shop for everything from planning to permitting to filling new building construction. In November, another software developer that was contending for the construction market, PlanGrid, was acquired by Autodesk in an $875 million transaction.
Slotting in the space where project developers outsource to contractors and crews, eSub provides oversight on operations in the field for developers. The company’s software is integrated with its strategic backer, Autodesk, as well as construction estimation and accounting software to provide an overview and budget for the entire construction process from design through