Construction Management Startup Powerplay Raises $7M In Series A Funding
Powerplay, a construction management firm, has raised $7.14 million in its Series A funding led by existing investors Accel and Sequoia Surge. The funding round also saw participation from India Quotient and the founders of Snapdeal.
As per the startup, the freshly raised capital will be used to scale its core business.
Powerplay | Simplifying Communication For Construction
Founded by Iesh Dixit and Shubham Goyal, Powerplay simplifies end-to-end construction and architecture project management, helping companies that are not satisfied with unprofessional ways of communication like WhatsApp.
Speaking about the development, Iesh Dixit, Co-founder and CEO of Powerplay, said,
“Our previous funding helped us scale our team size, and we almost doubled since then. Through the current funding, we aim to deepen our roots by nurturing our core business and widen our branches by developing an easy-to-use construction management platform for construction businesses around the world. Having a competitive edge in the market by being the first mover and such marquee investors to back our product, the sky’s the limit.”
As per Shubham Goyal, co-founder and CTO of Powerplay, the startup will look towards making self-serve software and building intuitive product flows. This would reduce human intervention and help them scale faster.
Powerplay accounted for a three-fold growth (compared to complete CY 2021) in its OS (operating system) business, as per a press statement. The value of construction managed on Powerplay from January to June 2022 equates to Rs 7500 crore (the app has surpassed the performance of CY 2021, which was Rs 7000 crore).
Now, Powerplay is looking forward to strategically scaling its OS business nationally and internationally.
This is the second round of funding the construction management firm has raised in the last 13 months. In July 2021, Powerplay raised $5.2 million in funding led by Accel Partners and Sequoia’s Surge.