Knowify secures $5.45M in Series A financing led by MassMutual Ventures and Companyon Ventures
NEW YORK, Nov. 11, 2021 /PRNewswire/ -- Knowify, a leader in construction business management software, announced today that it has closed $5.45 million in Series A funding led by MassMutual Ventures and Companyon Ventures. Dreamit Ventures and Knowify’s existing investors also participated in the round.
Founded in 2016, Knowify recognized that the time had arrived for the business management technology revolution to reach specialty contracting businesses. Whereas large general contractors began embracing technology for the jobsite and the office more than a decade ago, gaining unprecedented operational visibility and enhanced business efficiency as a result, specialty contractors like electrical, plumbing and painting businesses have remained stuck in a spreadsheet world. Knowify is transforming the way these small and medium-sized contractors do their office work, streamlining and simplifying frustrating processes like bidding, change order management, invoicing, purchasing, and more.
Knowify plans to use the capital to expand its collaboration with Intuit QuickBooks and strengthen its brand awareness by building out the company’s go-to-market team. Additionally, the newly secured funding will help support product enhancements.
“Knowify’s platform provides contractors with real-time, easy-to-understand data on project and overall business performance, allowing them to make better decisions and run a more efficient and competitive operation,” said Marc Visent, CEO of Knowify. “We’re thrilled to have closed a Series A round with a strong investor syndicate that shares our vision, and look forward to putting the capital to work helping our customers know and grow their businesses.”
“We’re excited to support Knowify as it revolutionizes the contracting industry, helping small-to-medium sized businesses simplify how they do business, while providing additional visibility into their performance,” said Eric Emmons, Managing Director at MassMutual Ventures. “Knowify is leading the charge to bring improved workflow, accounting, and project management capabilities to the SMB contractor market.”
“Knowify’s powerful tools and business analytics wrapped in a simple and elegant interface are the ideal solution to power the nearly 1 million small contracting businesses in the U.S,” said Tom Lazay, Co-Founder & General Partner at Companyon Ventures. “The team’s passion for super-charging contractors combined with their impressive, capital-efficient growth made us excited to lean in with Marc and the team.”
Founded in 2016, Knowify offers modern, web-based tools to help specialty contractors and residential general contractors run their businesses better. Knowify covers all aspects of administering a contracting business, from contract and change order management to scheduling, time tracking, invoicing, and more. Knowify also features an extensive integration with Intuit QuickBooks, and is a top-rated construction solution on Intuit’s Apps.com.
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