When it comes to construction projects, any type of delay can result in increased costs both for the contractor and their customer. Shortages of certain materials and supply chain constraints in recent years haven’t helped.
So it’s not a huge surprise that Canadian construction tech startup RenoRun, which has built an e-commerce platform for construction and building materials, is today announcing a $142 million Series B funding round co-led by Tiger Global Management and Sozo Ventures. Notably, the financing is a significant jump from the $17.1 million Series A that Montreal, Quebec-based RenoRun announced in November 2019. With the latest round, RenoRun has raised a total of $173 million.