Assignar is set to shake up the construction industry with a $3 million funding round.

Assignar is set to shake up the construction industry with a $3 million funding round.

Project planning within the construction industry hasn’t seen much innovation. Communication between the office and the field is often done on paper, by Excel or by many different point-solutions. Risk sharing, performance management and supply chain practices remain uncoordinated, leaving a lot of money on table for General Contractors and Subcontractors.

Assignar’s cloud based platform is built to help construction contractors improve efficiency, workplace safety, and project profitability by providing control of their workforce, assets, sub-contractors and compliance. The unique end-to-end solution provides contractors with digital and mobile forms, timesheet collection, scheduling, document management, communication and real-time tracking.
“Before we started Assignar in 2011, we saw many general contractors and subcontractors struggling with their technology suite; trying to tie point-solutions together or using a platform that wasn’t specifically designed with the Construction industry in mind. With Assignar we aim to be the so called one-stop-shop for general contractors and subcontractors.

Sean McCreanor (CEO & Co-founder) & Marko Tomic (CTO & Co-founder)

“Being cloud based means that we can implement new features rather quickly. We’ve learnt a lot from our existing customer base, and we’re committed to improving our platform according to their requirements. This keeps us ahead of many in-house built or older technology solutions. Our customers are ensured they’ll get a platform that is adopted and tested by a large number of contractors. ” – Sean McCreanor, CEO Assignar
Assignar counts companies like UGL, Lendlease, Sydney Trains and Liebherr among their significant and fast growing client list in both Australia and the United States. The $3 million capital raise will be used to attract more contractors to the platform, and developing the product to become the international industry standard.

Our Innovation Fund, LP, (“OIF”) a leading Australian venture capital firm, has led the $3 million funding round in the Sydney-based technology business Assignar. The investment in Assignar is OIF’s seventh investment since establishing mid last year.

David Shein, a Founding Partner of OIF, said “we’re excited about the opportunity ahead for Assignar and we’re grateful to be partnering with such an exceptional team led by Sean and Marko. The business has a great product that’s generating real traction in the market and that’s being demonstrated by the increasing list of customers and the increasing annual recurring revenue. We’re looking forward to working with the team to build on this success and to grow Assignar into a global leader in the construction software market. An Australian technology company that is exporting its product to the world that we can all be immensely proud of.”

Sean, Founder and CEO of Assignar said “partnering with OIF provides us with not only the capital we need to continue to grow and expand, but, more importantly, they’re a true partner that will help guide the strategic direction of the company, open doors and help us take this business to the next level. We couldn’t be more excited about the next phase of Assignar’s evolution”.

Read more on Business Insider Australia

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