Boston, USA-based the most advanced cloud-based estimating solution on the market, Ediphi raised USD 12 million in Series A funding. The round took place on March 21, 2024. Norwest Venture Partners led the financing for the company.
Purpose of the financing for the company
With the latest financing, the company has plans to expand its team. It also seeks to invest in product innovation via research and development. Meanwhile, Ediphi also looks forward to growing its market share within the industry.
The company earlier raised USD 6.5 million in a seed round in November 2023. Suffolk Technologies led the financing back then.
What the company’s official has to add
Dustin DeVan CEO of Ediphi, further said, “Our mission is to empower the people who plan the built world. This funding further validates our efforts and will allow us to build our team and invest more in research and development. We have seen massive interest from customers looking to move away from desktop applications for modern cloud infrastructures and to consolidate their estimating processes.”
What the investors have to comment
Sean Jacobsohn, Norwest partner, said, “Dominated by legacy, on-premise solutions, nearly 75% of contractors rely on manual methods for price quoting. Ediphi is about to change that with a cloud-native solution that saves time and money by accelerating a days- or weeks-long process into a few hours, while enabling unprecedented accuracy, scalability and collaboration. I’ve followed Dustin for more than a decade and it’s clear he understands the pain points of preconstruction firsthand, and he’s assembled a strong leadership team with deep domain expertise. It’s rare for a company at this stage to deliver an enterprise-class solution that pays for itself in savings. We see enormous opportunity for Ediphi to disrupt the preconstruction market.”
About the company
Ediphi’s cloud-based estimating system leverages a vast cloud database of scope and historical cost data to produce informative estimates with minimal project inputs. As the project develops, contractors can finalise details and start preconstruction by pricing a serviette sketch, which enables them to, Centralise data on the cloud with Ediphi; all you need is an internet connection and a browser to access it. Drive the basic conditions and requirements, conceptual and comprehensive cost estimates, and buy-out.
Organise preconstruction workflows in one place. Finally, expedite preconstruction in order to secure more lucrative projects. The most sophisticated cloud-based estimating programme available is called Ediphi. Contractors utilise our technology to expedite preconstruction and empower better decision making, ensuring they consistently direct customers to the optimal target value design.
To explore more such startups, visit Zefyron Startup Database
For more extensive analysis and Market Intelligence reports, feel free to approach us.
We try our best to fact-check and bring well-researched as well as non-plagiarized content to you. Please let us know
if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover
–what information you are looking for in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
