AI startup BuildOps lands $127M at $1B valuation to help commercial contractors drowning in busywork

The commercial contracting industry is a cornerstone of the economy, generating nearly $300 billion annually and employing hundreds of thousands of skilled workers—electricians, HVAC specialists, technicians, and more. These are the people who keep hospitals functioning, factories moving, and buildings operating smoothly.

But for all their impact, contractors have been left in the dust by modern software.

According to industry studies, tradespeople spend just 30% of their day doing actual hands-on work. The rest disappears into a black hole of paperwork, outdated instructions, missing parts, and slow approvals. It’s not just inefficient—it’s expensive. Delayed repairs can shut down production lines, slow critical operations, and pile up unnecessary costs.

That’s the pain point Los Angeles-based AI startup BuildOps set out to fix.

Instead of repurposing residential tools and calling them a solution, BuildOps built a platform from scratch—made specifically for commercial contractors. Its AI-enabled software connects field technicians, dispatchers, and managers in real-time, clearing out the operational noise that clogs up their day. It turns chaos into clean workflows, replacing frustration with the kind of structure contractors have needed for years.

BuildOps Hits Unicorn Status After $127M Series C round

Now, BuildOps has raised $127 million in Series C funding at a $1 billion valuation, officially joining the coveted unicorn club. The Los Angeles-based startup, which builds software for commercial contractors, said the money will help it scale operations and meet growing demand for its AI-enabled platform.

The round was led by Meritech Capital Partners, with participation from Schneider Electric’s SE Ventures, BOND Capital, and existing investors like Fika Ventures and Next47.

Founded in 2018 by Alok Chanani, Steve Chew, and Neeraj Mittal, BuildOps helps commercial contractors run more efficiently by automating tasks, delivering real-time data insights, and simplifying project and service management through AI-powered tools.

“The modern contractor that we work with is now going to have the insights from volumes of data that we’re putting AI against to try to project cost overruns before they happen,” COO John Laino told Reuters in an interview. “Historically, they would have to wait three or four months into a project, and sometimes it was too late to course-correct.”

Backed by Peter Thiel’s Founders Fund, BuildOps says it’s been growing revenue at 100% year-over-year for several years. CEO Alok Chanani says they’re focused on expansion, not profits—for now.

“We’re in a hyper-growth stage today, and so, profitability is not a core focus of the business right now. Our focus is really on growth and investing heavily in R&D and product development and continuing to expand our market reach and customer acquisition,” Chanani said.

The company is also open to more acquisitions. In 2023, BuildOps acquired PWSWARE, the parent company of Perfectware Solutions, a software platform used in mechanical contracting. Terms weren’t disclosed.

An IPO could be in the cards down the road, though there’s no clear timeline yet. For now, BuildOps is betting big on transforming how contractors work—and reclaiming the hours lost to red tape and inefficiency.

BuildOps team