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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

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. 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, dispatching, and invoicing via what it describes as “AI-powered automation.” The company claims that its software helps contractors including HVAC, plumbing, mechanical and electrical, and fire and life safety increase efficiency, make fewer costly mistakes, reduce downtime, and achieve higher profitability. “I talk to contractors every day […] and they’re busting their backs keeping our world running, but the deck’s stacked against them with short staffs, skyrocketing costs, and tech that’s stuck in the Stone Age,” Chanani told TechCrunch in an interview.

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