Ediphi
Cloud-based estimating platform for the construction industry.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
* | $1.5m Valuation: $32.5m | Late VC | |
| Total Funding | 000k | ||
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Ediphi is a technology company providing a cloud-based software platform designed to streamline the preconstruction phase of construction projects. The platform serves general contractors and estimators by unifying various workflows, including conceptual and detailed cost estimating, cost modeling, procurement, and bid analysis, into a single environment. Ediphi's business model is subscription-based, offering contractors a solution to move away from traditional spreadsheets and on-premise software.
Founded in 2023 by CEO Dustin DeVan and CTO Michael Navarro, Ediphi emerged from stealth with significant industry backing. The company's origin is tied to Suffolk Construction, where Navarro, a 20-year industry veteran, spearheaded the development of an internal estimating platform. DeVan, who previously founded BuildingConnected and sold it to Autodesk for $275 million, brought his experience as a general contractor and tech entrepreneur to the venture. He and Navarro acquired the intellectual property from Suffolk to establish Ediphi as an independent company.
The platform's core features are designed to accelerate the preconstruction process and improve accuracy. It utilizes a centralized, cloud-based unit price catalog that captures historical cost data, allowing for the creation of quick and precise estimates even with minimal project details. Features like Area Sheets, Unit Mix, and Systems allow for dynamic cost modeling based on a building's geometry and usage, enabling estimators to easily adapt to client changes. The system is designed for collaboration, allowing multiple team members to work on a project simultaneously. Ediphi has secured substantial funding, including a $6.5 million seed round in November 2023 led by Suffolk Technologies and a $12 million Series A round in March 2024 led by Norwest Venture Partners, to fuel product development and market expansion.
Keywords: preconstruction software, construction estimating, cost modeling, cloud-based estimating, construction technology, cost management, bid leveling, procurement software, value engineering, construction bidding, target value design, conceptual estimating, detailed cost estimating, ConTech, SaaS, general contractors, historical cost data, project buyout