Construction management firm Powerplay has raised $7.14 million in Series A funding led by existing investors Accel and Sequoia Surge. India Quotient and the founders of Snapdeal also joined the round.
This is Powerplay’s second round of funding in the last 13 months. In June last year, the startup raised $5.2 million in Series A from the same investors. The company will use the latest capital infusion to expand its core business.
Since its inception in 2020, Powerplay has raised a total of about $13 million. Accel has deeply helped Powerplay create a product strategy, and Sequoia’s Surge program has helped them connect with a community of Surge founders who are many steps ahead in their respective fields.
Founded by Iesh Dixit and Shubham Goyal, Powerplay is a comprehensive SaaS platform for construction management that helps to simplify communication and synergize collaboration between construction sites and central office teams. Specialty contractors, general contractors and builders manage site work, material and labor at Powerplay.
Iesh Dixit, Co-Founder and CEO of Powerplay, said, “Our previous funding helped us increase the size of the team and we have almost doubled in size since then. We aim to deepen our roots by supporting our core business and expanding our branches by developing an easy-to-use construction management platform for construction companies worldwide. Having a competitive edge in the market by being a first mover and having such significant investors backing our product is the sky’s the limit.”
Shubham Goyal, CTO of Powerplay, said, “This would reduce human intervention and help us scale faster. While we expect our operating system user base to grow, we are committed to providing a seamless experience as we scale.”
According to Powerplay, the company will strive to create self-service software and create intuitive product flows.