Brickeye successfully closes $10M investment round

Brickeye, a construction data analytics technology company, has announced the successful first closing of a $10 million investment round.

The company welcomed new investors BDC Capital’s IP-backed Financing Fund and Graphite Ventures, with additional funding from existing investors GreenSky Ventures, Brightspark, EDC, and MaRS Investment Accelerator Fund. Brickeye intends to use the funds for continued growth of its risk mitigation and productivity platform for the construction and insurance industries.

“We are excited about the opportunities that lie ahead as we continue to innovate and empower the construction industry with our technology,” said Tim Angus, CEO of Brickeye. “This investment round reaffirms our commitment to providing game-changing solutions that reduce risk and drive productivity, ultimately benefiting everyone involved in construction projects.”

Harnessing the power of Internet of Things (IoT) technology, Brickeye’s suite of solutions enable job site monitoring, intelligent alerts and analytics, and smart automations. The company says this approach empowers general contractors, owners, developers, and insurance providers to better mitigate risk, boost productivity, and safeguard margins of high-rise building and infrastructure construction projects. Brickeye is transforming how insurance providers place, underwrite, and protect policies by helping insureds de-risk projects in pre-construction and mitigate risk during construction.

“Brickeye has enormous potential to positively disrupt the construction and insurance industries with its job site IoT platform which optimizes data capturing, risk management, productivity, as well as reducing the environmental footprint of construction sites,” said Anne-Marie Bourgeois, Partner, Intellectual Property-Backed Investment at BDC Capital. “The company’s IP strategy will be an important asset in its growth journey.’’