Anyone who has ever built or renovated a house knows the process can be complicated and time-consuming—often leading to unexpected cost overruns that can stretch budgets beyond their limits. Now, scale that complexity up to commercial developments, where dozens of subcontractors, equipment providers, and specialized tradespeople must be coordinated seamlessly. How do general contractors (GCs) manage this logistical puzzle?
GCs currently rely on a subcontractor-based procurement model, which introduces inconsistencies, inflated costs, limited collaboration, and low visibility for stakeholders. These inefficiencies drive up expenses and delay projects.
With rising construction costs, securing the right equipment quickly and efficiently has never been more critical. That’s why BuildVision’s cloud-based construction procurement platform is such a breakthrough. By directly connecting GCs to manufacturers, BuildVision streamlines the sourcing, procuring, financing, and tracking of essential equipment—eliminating unnecessary markups and inefficiencies along the way.
Norwest is proud to lead BuildVision’s $10 million Series A funding round to help scale its innovative solution. The timing couldn’t be better. According to Grand View Research, the global construction and design software market was valued at $11 billion in 2024, with a projected CAGR of 10.4 percent from 2025 to 2030. Meanwhile, mechanical and electrical (M&E) equipment spending makes up 10 to 15 percent of total annual construction costs. U.S. Census Bureau data also indicates steady growth in construction volume over the past decade. So not only is the backlog of construction projects larger than ever, but we also see increased spend and construction volume.
Direct Procurement Simplifies a Fragmented Process
General contractors are evolving their strategies, increasingly opting for direct procurement—particularly in mission-critical projects like data centers and hospitals, where complex equipment packages demand shorter lead times. In this landscape, efficiency isn’t just a competitive advantage; it’s a necessity.
In our conversations with GCs, one message came through loud and clear: BuildVision’s procurement platform is a groundbreaking innovation. It empowers them to control project timelines, reduce lead times, and improve margins. Here’s how BuildVision enhances GC performance across four key dimensions:
- Accuracy: By aggregating project data and equipment specifications, BuildVision streamlines the RFQ (Request for Quote) and price-leveling processes for equipment and engineered systems.
- Efficiency: The platform enables direct sourcing from manufacturers within a single, consolidated environment—bypassing traditional distributor and subcontractor markups.
- Profitability: Early-stage procurement decisions are crucial to overall project success. BuildVision helps GCs assemble the right preconstruction providers quickly, leading to significant margin improvements.
- Collaboration: BuildVision’s cloud-native platform facilitates broad and efficient stakeholder engagement, a critical differentiator in today’s fast-moving construction landscape.
A Leadership Team with a Proven Track Record
Behind every successful company is a team that understands the industry’s challenges firsthand. BuildVision’s leadership is no exception.
- Mike Powers, CEO: A construction software veteran, Mike grew Turner Construction’s SourceBlue division to $1 billion in annual M&E equipment procurement. Later, he played a key role in BuildingConnected’s growth, helping it become an industry standard before its acquisition by Autodesk.
- Christophe Prakash, CTO: Formerly with BuildingConnected and Autodesk, Christophe brings deep expertise in engineering and data analytics, having led teams across Autodesk’s Construction Cloud and License Compliance divisions.
- Ben Lyddane, COO: A founder himself, Ben built an AI-driven construction software startup before joining BuildVision through acquisition. His operational expertise helps drive the company’s growth and innovation.
When industry veteran Dustin DeVan, CEO of Norwest portfolio company Ediphi, introduced us to Mike, Christophe, and their vision for BuildVision, we were immediately intrigued. Our confidence grew when we introduced them to potential customers and saw an overwhelmingly positive response.
As one industry expert put it, BuildVision’s platform “compresses time to delivery and time to discovery.” Another supply chain leader estimated that the solution could save them an average of 20 percent on equipment purchases. As projects grow in size and scope, the need for direct-procurement solutions becomes even more pressing.
A Leap Forward in Commercial Construction Procurement
BuildVision’s cloud-based solution is more than just an efficiency tool—it’s a transformative shift for the construction industry. By leveraging dynamic data analytics, it expedites the RFQ and bid processes, setting a new standard for data-driven procurement workflows. Over time, this innovation has the potential to modernize strategic procurement across the sector, improving efficiency, reducing costs, and driving better project outcomes.
BuildVision sits at the intersection of two of Norwest’s key investment areas: construction software and procurement. It joins Ediphi in our construction portfolio and follows investments in Oro and SourceDay on the procurement side. If your software startup is solving entrenched challenges in the construction industry and disrupting legacy players, we’d love to hear from you. Reach out to Sean Jacobsohn (LinkedIn or email) or Bayan Alizadeh (LinkedIn or email) to start a conversation.
