BuildOps Secures $127M, Joining Unicorn Club

BuildOps, a software company focused on enhancing efficiency for commercial contractors, has raised $127 million in Series C funding, bringing its valuation to $1 billion and cementing its status as a unicorn. Founded in 2018 and based in Los Angeles, BuildOps deploys field service management software that leverages AI-powered automation to optimize operations for contractors in sectors such as HVAC, plumbing, mechanical and electrical, and fire and life safety across the U.S. and Canada. The Series C round was led by Meritech Capital with participation from new investors Bond Capital and Schneider Electric's SE Ventures, alongside existing backers. Since its platform launch in 2020, BuildOps has reported exponential growth in revenue, although it remains unprofitable while prioritizing scaling and product development. The company plans to utilize the new funds to expand its workforce and explore strategic acquisitions. BuildOps' board will welcome Paul Madera of Meritech Capital as part of the new financing.