Commercial services platform BuildOps becomes a unicorn, raises $127M

Commercial services tech hasn’t historically been considered “sexy,” but the need for innovation in the space is enormous. That need has translated into a large fundraise for a company focused on streamlining commercial contracting processes. On Friday, BuildOps, which develops software for commercial services contractors, announced that it has raised $127 million in a Series C round led by Meritech Capital that values the company at $1 billion post-money. That valuation is “more than double” the valuation BuildOps reached in its last financing – a $50 million Series B round announced in May of 2023 and a follow-on “top up” $36 million raise for existing investors only, according to Alok Chanani, co-founder and CEO. The latest capital infusion brings the company’s total raised to over $250 million. Founded in 2018, Los Angeles-based BuildOps has built field service management software that helps commercial contractors in the U.S. and Canada with project management, service, dispatch ... Read full article.