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Rhumbix Raises $11M to Assist Construction Industry in Digitizing Field Operations

By September 21, 2021January 21st, 2022No Comments

SAN FRANCISCOSept. 21, 2021 /PRNewswire/ — Rhumbix, the mobile-first platform helping General Contractors, Trade Contractors, and Owners digitize their field workflows, reporting, and analytics; today announced the closing of $11 million in growth capital to scale its Connected Field Platform–bringing its total funding to $49 million.

“Rhumbix modernizes construction field operations by transforming your field reporting into productivity insights,” said Rhumbix co-founder and CEO Zach Scheel. “The ability to share data in real-time and communicate with stakeholders no matter the location is especially valuable in our current working environment. We are fortunate to partner with investors like Blackhorn Ventures, Tenfore Holdings, and TFX Capital, who share our enthusiasm and excitement for the large market opportunity being created by digital transformation and the future of work in the construction and field service industries.”

The investment, co-led by Blackhorn Ventures and Tenfore Holdings, with participation from existing investors Greylock Partners, Glynn Capital, and Darren Bechtel of Brick & Mortar Ventures, will be used to invest in growing the company’s product and go-to-market teams, including the recent additions of Bill Smith as President of Commercial Operations and Rob Blau as Vice President of Engineering.

“Unlocking the value of digitization is now critical for enterprise success in the construction industry,” said Trevor Zimmerman, co-founder and managing partner of Blackhorn Ventures, which also previously led a $14.3M Series B funding round with Rhumbix. “Rhumbix continues to be the best-in-class platform for digitizing and collecting field-level data that’s necessary to fuel the construction ecosystem.”

Founded in 2014 by Navy veterans with deep experience in the construction industry, Rhumbix’s technology is the first to close the gap between the field-level workforce and management in the home office by providing real-time data and insights for all project stakeholders.