Field Materials Secures Additional $3.5M to Expand AI-Driven Construction Spending Management Platform
Field Materials offers an AI-powered procurement platform tailored for contractors to control and verify spending on construction materials and equipment.
Company Name: Field Materials
Location: San Jose, CA
Sector: Construction Technology, Artificial Intelligence
Funding Details: Raised an additional $3.5M, bringing the total seed funding to $8.5M. The round was led by new investors DivcoWest Ventures, Navitas Capital, Zelda Ventures, and Flyer One Ventures, with participation from existing investors Blumberg Capital, s16vc, Zacua Ventures, and various industry executives.
Purpose of Investment: To expand the sales and customer success teams to accelerate growth.
Leadership: Founded by Eldar Sadikov and Victor Gane.
Product: Field Materials offers an AI-powered procurement platform tailored for contractors to control and verify spending on construction materials and equipment. The platform’s web and mobile apps automate the process of material purchasing and equipment rentals, reducing manual data entry and minimizing errors. It achieves cost savings of 5-10% by automatically detecting billing discrepancies.
About Company: Field Materials is focused on enhancing efficiency and accuracy in construction spending. By integrating with leading accounting software and partnering with professional organizations across the construction industry, the platform provides comprehensive support for contractors managing financial operations.