Melbourne construction technology company Buildxact has attracted $18.5 million in expansion funding investments by industry players Regal Funds Management, Possible Ventures, Thorney Opportunities, and Shearwater Capital, among others. The funding will allow Buildxact to solidify their international presence in New Zealand and North America, back their introduction into the United Kingdom later this year, and boost their work in research, development, and innovation.

Regal Funds Management explains their interest in Buildxact as lead investor. Portfolio Manager Jessica Farr-Jones says, “Buildxact addresses a large but underserved market that typically relies on inefficient applications such as Word, Excel and email to estimate costs and manage projects. Diligence calls with both builders and building materials’ suppliers revealed a significant degree of ‘customer love’, citing Buildxact as the only cloud-based job estimating and job management solution. After already achieving significant traction in the Australian market, Regal is excited about the opportunity for Buildxact to penetrate further in the U.S. and Canada, and launch into the UK. With an incredibly strong founder-led management team, we believe the company is uniquely placed to become a global leader in this market.”

CEO Mr. David Murray shares, “We are delighted by the strong support from the investor community. Our company is solving fundamental problems for the residential construction industry, and through this capital, we will be able to further expand our global operations, becoming the clear leader in software solutions for the builder and their engagement with suppliers.”

Buildxact markets to builders and tradesmen with a need for simple, user-friendly, and efficient online business tools. The company provides estimating and job management software for residential and light-commercial projects, servicing sole traders through to multi-team operations. For more information, visit their website: https://www.buildxact.com.au/ .