Participated · Series C · Feb 2021

Built Technologies offers a centralized cloud platform that simplifies management of funds and documentation for construction loan administration, enabling faster funding decisions and draws. Its CRE data model delivers real-time transparency and visibility into construction project status. The platform is used by more than 250 banks and private capital providers and by thousands of developers, home builders, and contractors. Built plans to use the Citi investment to accelerate growth in commercial real estate asset management and to enable operational and technological enhancements. The company’s tools aim to create a centralized system of record that accelerates the flow of capital from lenders to borrowers, contractors, and vendors. Built is headquartered in Nashville, Tenn. Built offers a cloud-based construction finance platform that enables lenders, property developers, homebuilders, contractors, and other industry vendors to collaborate in real time, manage draws and payments, and mitigate risk. The platform supports the full breadth of debt and equity funding and provides lenders with insights to manage their business while delivering borrowers a more convenient experience. Built is developing compliance tracking, AP/AR automation tools, payment management, and insurance services to broaden its product suite. Since launching in 2015, Built’s platform has been used to manage financing of over $135 billion in construction value across more than 200,000 projects and is used by over 150 U.S. & Canadian construction lenders and thousands of developers and contractors. The company plans to expand its team, accelerate new product delivery for financial institutions, design products for developers and contractors, launch next-generation construction payment capabilities and an insurance brokerage, and pursue further international expansion. The company is headquartered in Nashville, Tenn. Built Technologies offers construction finance software and construction payment technology through product suites including Built for Lending and Built for Construction. The platform connects commercial and consumer construction lenders, developers, contractors, homebuilders, title companies and other stakeholders to streamline capital flow, mitigate risk, speed draws and payments, and ensure compliance. Built says its platform has been used to manage the financing of over $68 billion of construction projects across more than 130,000 projects and is used by more than 125 leading construction lenders and thousands of owners and contractors. The company plans to expand its Built for Lending suite and accelerate go-to-market efforts to serve more bank and non-bank construction lenders across the U.S. and Canada, while also investing in products for commercial owners, developers and homebuilders. Built was founded in 2015 and positions itself as modernizing money movement in the $14 trillion global construction industry. Built Technologies, founded in 2014 and based in Nashville, provides a technology platform that gives commercial and consumer construction lenders the insight they need to improve decisions and speed the flow of capital through the construction ecosystem. The platform has allowed lenders to service more than $24 billion of construction loans since its 2015 launch. Since 2017 the company has tripled its customer base, which includes banks and non-bank construction lenders. Built is led by CEO and co-founder Chase Gilbert. The company completed a $31M Series B that brought total funding to $55M. It intends to use the funds to accelerate development of its platform and to expand its client success organization. Built provides software that streamlines collateral monitoring and the draw process associated with servicing construction loans, digitizing workflows so lenders can use data to make more informed decisions and borrowers gain faster access to funds. Led by CEO and co-founder Chase Gilbert, the company serves banks and non-bank lenders of all sizes across the United States. Since January 2016 Built has more than tripled its customer base. The company raised $21M in a Series A led by Index Ventures, bringing total capital raised to date to $25M. Built intends to use the funds to accelerate innovation across both residential and commercial construction lending, invest in data utilization, and expand integrations and partnerships with other lending-technology systems and industry service providers. The product focus is on improving lender decision-making and speeding borrower access to money to push projects forward.