Online construction materials procurement platform The Build Chain is set to grow its team, expand its solution, and reach the next stage of growth after securing its second round of investment
The company has successfully raised £1.7m through a mixture of angel investors, industry investors, and the Finance Yorkshire fund managed by Anticus Partners.
Following a successful pilot scheme and nationwide rollout in 2023, The Build Chain is forecasting strong growth in 2024 and beyond.
The company will use this latest round of investment to recruit more experienced individuals into key business areas such as technology, operations, sales, and finance.
Creating an efficient supply chain
The Doncaster-based business has developed a solution that connects sub-contractors and SME housebuilders in need of materials with independent merchants, improving and creating efficiencies throughout the supply chain.
By enabling sub-contractors and SME housebuilders to submit a single enquiry for required materials which is automatically delivered to suitable merchants, The Build Chain removes the need for buyers to spend time finding suppliers, contacting them manually, and chasing quotes.
Contractors benefit from hours of time saved per project alongside cost savings through quick, easy, and accurate quote comparison, whilst merchants benefit from a brand-new route to market and an increase in warm sales leads.
The Build Chain is focusing on four key pillars to achieve its vision
The four pillars are:
- Tech development powerhouse: The development team will continuously evaluate the platform, ensuring a seamless user experience for both sub-contractors and merchants, including the introduction of artificial intelligence (AI) features
- Financial acumen: Strategic financial leadership will ensure data-driven growth and a futureproof business model
- Sales & marketing: A high-performing sales and marketing team will amplify reach to bring efficiency to the entire industry
- User-centric focus: Dedicated account management and an intuitive user experience will prioritise customer success.
The company will expand the platform to other construction audiences in the next year
A marketplace area of the platform is being developed to allow Tier 1 and Main Contractors to offer work packages via the platform and sub-contractors to bid for work.
Main contractors will benefit from better visibility of sub-contractors’ procurement activity and improved compliance with framework or main client requirements, whilst sub-contractors will have more opportunities to win work and improve their own materials procurement processes.
Neil Sheldon, CEO at The Build Chain, said: “We’re delighted to have reached this next stage of growth in our journey to transform the procurement process in the construction industry. This investment will allow us to scale up, achieve extended growth, and begin creating efficiencies throughout the entire built environment supply chain.
“Our successful platform launch last year has driven over £7m in quotes to independent merchants across the UK alongside saving contractors time and money. We can now begin to expand these successes to other user groups with benefits for the whole industry.”
The Build Chain was assisted throughout the investment process by Freeths Solicitors and Cerelo Advisory.
