Built Technologies: Powering Smarter Construction

As the world hurtles toward a future dominated by technological advancements, the construction sector finds itself at a crossroads, faced with the imperative to embrace innovation or risk being left behind. In this challenging landscape, one company stands as a vanguard of change, poised to rewrite the narrative of construction finance and project management. Built Technologies, headquartered in the vibrant city of Nashville, Tennessee, has emerged as a beacon of innovation, offering a transformative solution to the age-old complexities of construction lending. The story of Built Technologies is not merely a tale of technological evolution; it’s a narrative of resilience, adaptability, and the unwavering commitment to ushering in a new era for the construction industry.

The construction sector, often characterized by a labyrinthine maze of paperwork, opaque processes, and fragmented communication, has long been in need of a guiding light. In the absence of a cohesive and streamlined approach to construction finance, stakeholders—ranging from lenders and builders to developers—have found themselves navigating a convoluted path fraught with risks, uncertainties, and an inherent resistance to change. As the industry faced mounting challenges, Built Technologies stepped into the breach, armed with a vision to redefine the construction finance landscape. Built is fixing lending and spending for the entirety of the real estate finance ecosystem—and simultaneously providing services that enable all stakeholders in a construction project to get the job done faster and more efficiently than ever before. “We pursue big problems that can change the world for the better and make our customers more successful. We stretch our imagination to find innovative ways to solve problems. We know that the best ideas and the greatest opportunities for Built haven’t been thought of yet.”

At the heart of the construction industry’s tribulations lies the intricate dance of finance and project management. Construction projects, inherently capital-intensive and time-sensitive, demand a financing model that is as dynamic as the structures being erected. Traditional methods of construction finance, relying heavily on manual processes, paperwork, and disjointed communication, have often resulted in inefficiencies, delays, and heightened risks for all involved parties.

Built Technologies, founded in 2014 by Chase Gilbert, Jim Fraser, and Tyler Thompson, recognized this pain point and set out to chart a different course. The company’s founders, with backgrounds spanning finance, technology, and construction, brought a multidimensional perspective to the table. Their collective vision was clear: to create a platform that not only streamlined construction finance but also brought transparency, collaboration, and risk mitigation to the forefront.

The challenges facing the construction industry were not solely technical but deeply entrenched in the industry’s culture. Construction, a sector with a strong heritage and an inclination toward traditional methods, presented a unique set of obstacles to digital transformation. The resistance to change, coupled with a lack of a unified technological framework, had created a void in the industry—a void that Built Technologies was poised to fill.

Delivering End-to-End Visibility

The Built platform, the company’s flagship offering, was conceived as more than just a software solution. It was a catalyst for change, a digital bridge spanning the gaps in communication, collaboration, and risk management that had long plagued the construction finance ecosystem. The platform’s end-to-end visibility, collaborative features, and risk mitigation capabilities were not merely functionalities; they were answers to longstanding industry challenges. “I’m very excited to think about how we do improve construction payments and how we can introduce ways that may have previously been impossible. But with technology, we can connect dots that no one’s been able to connect before, and we can rethink the fundamental infrastructure of construction finance by really doing it with our customers.”

The journey for Built Technologies has been one of continuous evolution and adaptation. The construction industry, a behemoth known for its inertia, required more than just a technological upgrade—it needed a cultural shift. The challenge for Built Technologies was not just to create a platform that met industry needs but to usher in a mindset change, to persuade stakeholders to embrace a new way of approaching construction finance.

Built Technologies’ impact on the construction industry is not confined to the realms of efficiency and risk mitigation; it extends to reshaping how stakeholders perceive and engage with construction projects. The platform’s user-friendly interface and intuitive design have played a pivotal role in overcoming the industry’s traditional resistance to technology. It’s not merely a tool for managing construction finance; it’s a vehicle for cultural transformation within the sector.

The company’s journey has been marked by strategic partnerships and significant investments, underscoring the industry’s recognition of Built Technologies’ potential to redefine construction finance. Notable funding rounds, including a $31 million Series B led by Goldman Sachs Investment Partners in 2018 and a $55 million Series C led by Founders Fund in 2019, have positioned Built Technologies as a key player in the construction technology landscape.

The Synergy Between Technology and Finance

Strategic collaborations with industry leaders like Black Knight and Ellie Mae have expanded Built Technologies’ reach and integrated its platform into broader financial ecosystems. These partnerships, far from being mere business transactions, represent the synergy between technology and finance, a collaboration aimed at bringing about holistic change in the construction industry.

The impact of Built Technologies is not measured solely in financial figures or technological achievements; it is evident in the stories of lenders who can now make informed decisions, builders who can focus on construction rather than paperwork, and developers who can navigate complex projects with newfound confidence. The company’s commitment to transparency, collaboration, and risk mitigation has not only addressed the challenges of construction finance but has elevated the industry’s overall resilience and efficiency.

As the construction industry continues its journey into the digital age, Built Technologies stands as a testament to what is possible when innovation meets industry expertise. The company’s story is not just one of success in a competitive market; it is a narrative of transformative impact, cultural change, and the relentless pursuit of a vision to reshape an entire industry.

Built Technologies is not merely a solution provider; it is a torchbearer, illuminating the path forward for the construction sector. As the industry faces the challenges of the future, Built Technologies remains at its side, navigating the complexities, adapting to the evolving landscape, and offering a guiding light toward a more efficient, transparent, and collaborative future for construction finance and project management.