PinPoint Analytics, a Manalapan, NJ-based startup leveraging AI to transform the road construction industry's bidding and estimating processes, has raised $3.2 million in seed funding.
Investors
The funding round was led by HG Ventures and joined by Compose VC. This investment aims to enhance bid accuracy and efficiency.
HG Ventures, the corporate venture arm of The Heritage Group headquartered in Indianapolis, Indiana, supports innovation and growth across The Heritage Group by investing in and partnering with high-growth companies for a sustainable future.
HG Ventures' Kip Frey joins the PinPoint Analytics board.
About PinPoint Analytics
Founded and led by CEO Jim Carr, PinPoint Analytics offers an AI-driven platform designed to revolutionize construction data management and analysis. By employing advanced machine learning algorithms, PinPoint analyzes vast amounts of data. The platform helps contractors gain a competitive edge, secure more bids, optimize profit margins, and significantly reduce the time required for complex manual estimates. Additionally, PinPoint empowers municipalities to establish accurate budgets for their projects, minimizing financial risks and avoiding costly re-bidding procedures.
Funding Details
Company: PinPoint Analytics Inc.
Raised: $3.2M
Round: Seed Round
Funding Date: September 2024
Lead Investor: HG Ventures
Additional Investors: Compose VC
Company Website: https://www.pinpointanalytics.ai/
Software Category: Construction Data Management and Analysis
Source: https://www.prweb.com/releases/ai-powered-construction-data-platform-pinpoint-analytics-secures-3-2mm-investment-led-by-hg-ventures-302248692.html