CONSTRUCTION

Digital Infrastructure Mapping Initiative Builds Momentum in California

CivilGrid | July 22, 2022 | Read time : 02:01 min

Digital Infrastructure news
San Francisco-based startup CivilGrid is modernizing infrastructure planning with a data sharing platform unprecedented in scale and security. In the last 15 months, CivilGrid's $2.2M pre-seed fundraise propelled hiring, product development, and data acquisition initiatives, which have led to new collaborations with infrastructure owners across California.

Pacific Gas and Electric Company (PG&E), a combined gas and electric utility serving more than 16 million customers across Northern and Central California, is working with CivilGrid to share gas and electric asset locations with companies planning projects across PG&E's entire service area.

Underground data is critical, yet difficult to obtain in predictable formats or time frames. The US construction industry loses $30B each year due to utility line strikes, despite widespread use of locate and mark services. Project costs increase quickly when unexpected site conditions occur. Founder Josh Mackanic spent 14 years in the utility and construction industry navigating problems caused by gaps in built environment data. Recognizing an opportunity to improve safety and efficiency, he launched CivilGrid in 2020 as a reliable source of site intelligence for engineering and construction personnel.

CivilGrid offers a comprehensive map interface with utility locations, site hazards, geotechnical conditions, land rights, and permit constraints. The platform also identifies project conflicts or coordination opportunities by comparing work plans across infrastructure operators. Through CivilGrid, engineers, planners and project managers accelerate site evaluation, reduce dig-in risk, and optimize multiyear project portfolio plans.

CivilGrid users are planning and coordinating projects more efficiently, resulting in dramatic cost savings. One team at a telecommunications engineering services firm is reducing data acquisition and processing costs by 90% and reducing lead times from months to minutes.

San Jose Water, an investor-owned public water utility serving 1 million people in the greater San Jose area, now references CivilGrid during interagency coordination meetings to improve work sequencing in the public ROW. It is immensely useful to have the GIS layers of multiple municipalities/utilities on a GIS map all at once, explains an engineer from San Jose Water. CEO and Founder Josh Mackanic adds, CivilGrid is improving how infrastructure projects are developed, and these projects are the lifeblood of our local economies. These improvements benefit an entire ecosystem of stakeholders, from project engineers to local businesses.

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CONSTRUCTION

Billd Announces Partnership with ConstructConnect to Significantly Strengthen Bid Strategies for Trade Contractors

ConstructConnect | June 29, 2022

Billd, the leading provider of material financing and pay app advancement for commercial trade contractors, today announced a partnership with ConstructConnect, a portfolio of software and services that combines a builders network, robust project data, and takeoff tools for construction professionals. This partnership will enable subcontractors using ConstructConnect to more easily secure approval on financing for projects. Combined, these services increase bid confidence and competitiveness, allowing trade contractors to take on more projects and grow their businesses. With this partnership, Billd's premier financing offerings are now readily available to trade contractors as they assess and bid on new projects. This allows trade contractors to plan their financial strategy for each project, reducing the risk of negative cash flow, which can be disruptive once a project reaches execution. By providing access to upfront cash solutions for materials, approved ConstructConnect customers will be able to lock in crucial materials as soon as projects are won, mitigating financial risk from unpredictable market fluctuations in cost and project delays from increased lead times. "Subcontractors have long struggled to gain access to working capital to maintain and grow business through traditional financial institutions, Our partnership with Billd informs subcontractors about the opportunity to secure material and labor payment financing while they wait for payment on work already completed. This should better position companies that require access to working capital to succeed and grow their businesses." -Jon Kost, Chief Strategy Officer of ConstructConnect. Billd has taken major strides in the construction industry to provide financing terms that align with payment cycles. Trade contractors and suppliers are typically the last to get paid, waiting on average over 83 days. A recent US market report from Billd that surveyed nearly 800 contractors found that 66% of contractors pay for materials and 82% pay for labor before receiving payment for their work. Billd works to help alleviate this financial burden through cash flow solutions that allow trade contractors to take on and execute more projects. "The lack of access to finance resources has shortchanged trade contractors for decades, causing limitations on their ability to maintain healthy cash flow, We're thrilled to bring financial options to more contractors through ConstructConnect's pre-construction portfolio. Together we will increase bidding confidence and support execution." -Chris Doyle, CEO of Billd. About Billd- Billd was started by Christopher Doyle and Jesse Weissburg, industry veterans in both construction and finance. Chris and Jesse were inspired to launch Billd to bring the financial power of Wall Street to the construction jobsite, allowing contractors to bypass project hurdles with access to upfront funds while enabling suppliers to sell more materials with less risk. For contractors who usually aren't paid until more than 83 days from purchasing materials, Billd provides 120-day terms so they can stabilize cash flow and more effectively grow their businesses. With a deep understanding of the construction industry, Billd knows traditional credit metrics are poor predictors for risk in this vertical segment and has built a variety of industry-specific proprietary analytic tools to better assess risk in the construction industry. About ConstructConnect- ConstructConnect is a leading provider of commercial construction information and technology solutions and is committed to transforming the way the construction industry does business by providing its customers the tools, information, and connections needed to drive their success.

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CONSTRUCTION

Kastle Systems Chosen as Approved Security Vendor for Rokstone Construction Risk Underwriters

Kastle Systems | July 13, 2022

Kastle Systems, the leader in property technology and America's largest managed security provider, has been named to the Rokstone Construction Risk Underwriters (Rockstone CRU) Approved Security Vendor list. Rokstone CRU is a specialty Managing General Underwriter offering Casualty and Builder's Risk insurance products and services for complex construction projects throughout the US. As a Rokstone Approved Security Vendor, Kastle can now deploy MobileSentry, the company's signature construction site video surveillance security solution, on any Rokstone-insured project. Kastle's MobileSentry enables construction companies to avoid paying the high costs associated with staffing in-person security guards after hours at construction sites by employing analytic enabled cameras with artificial intelligence instead. These smart cameras are programmed to digitally diagnose potential problem situations on-site and instantly alert live agents remotely monitoring from the Kastle US-based video operations center. Agents can view the video stream in real-time and administer live audio talk down deterrents to any human transgressor. MobileSentry also provides cloud-based storage of video for up to two years "Kastle is proud to be named an Approved Security Vendor by Rokstone. Our priority at Kastle is to protect our client's sites and provide them with the most reliable and cost-efficient security technology and security solutions, like MobileSentry, from groundbreaking day one, We are eager to continue our work to protect the assets and sites of Rokstone insurers around the country." -Nik Gagvani, General Manager of Video Services. Kastle's system not only meets Rokstone's standard for analytical performance, but their approach to perimeter security also aligns with our emphasis on deterrence. Preventing a breach, rather than just capturing it, is imperative in our world. We believe Kastle has a first-class system to protect our risks across the country and are pleased to add them to our approved list of vendors. said Colton Kovar, Risk Engineer, Rokstone CRU. About Kastle Systems- Kastle Systems has been leading the property technology industry since 1972 with advanced technology solutions and services, protecting commercial real estate, multi-family residential, global enterprises, educational institutions, and critical government facilities. Kastle's state-of-the-art solutions include access control, video surveillance, visitor management and identity management, as well as a suite of mobile security applications, all integrated on an open, standards-based platform and supported by a team of experts 24x7x365. Headquartered in Falls Church, Virginia, Kastle is on Silicon Review's 2021 Five Best Security Companies to Watch list. About Rokstone Construction Risk Underwriters- Rokstone CRU is a specialty MGU offering Casualty and Builder's Risk insurance products and services for complex construction risks and projects throughout the United States. Our multifaceted team is equipped to successfully insure this intricate business with experience, expertise, and analytical thinking. Our team includes veteran construction insurance professionals, specialty claims experts and cutting-edge risk engineering specialists. Our advanced technology and analytics allow us to enhance the process, think innovatively and deliver customized products and concepts to our customers. Rokstone's approach is to engage and work closely with the client's management team to review project systems and plans, identifying areas of concern. By engaging with the client's leadership team and utilizing these feedback systems, we are able to provide customized solutions and processes to fill any risk gaps and implement enhanced safety and risk management practices from the boardroom to the field level employees.

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CONSTRUCTION

Procore Works with AWS to Bring Digital Twins to the Construction Industry

Procore | July 16, 2022

Procore Technologies, Inc.a leading global provider of construction management software, today announced it is working with Amazon Web Services (AWS) to leverage AWS IoT TwinMaker to extend the value of construction data into facility operations. The tools AWS IoT TwinMaker provides accelerate the creation of digital twins for buildings, factories, industrial equipment, and production lines. Procore’s platform serves to connect all construction stakeholders in the lifecycle of a built asset. AWS IoT TwinMaker will allow Procore data to be integrated from design and construction into operations. Procore project owners will be able to incorporate as-built information from Procore with real-time data sources using TwinMaker, extending the value of construction information into operations. This consolidation of information can streamline operations and maintenance and enable lifecycle analysis of portfolio assets. “We’re very excited about our partnership with AWS. Roughly 80% of the lifecycle cost of a project is in the operations phase, With this partnership we can leverage Procore’s course of construction data during that operations phase to help owners reduce costs, optimize performance, and be better prepared for future project needs.” -Tiffany LaBruno, product director, owners at Procore. AWS IoT TwinMaker will make it faster and easier to create digital twins of real-world systems. Using AWS IoT TwinMaker, developers can get started quickly building digital twins of devices, equipment, and processes by connecting AWS IoT TwinMaker to data sources like equipment sensors, video feeds, and business applications. Built-in connectors for integration with sensors, 3D visualization, and downstream data analytics are transforming the built environment. About Procore- Procore is a leading global provider of construction management software. Over 1 million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Procore’s platform connects key project stakeholders to solutions Procore has built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Procore's App Marketplace has a multitude of partner solutions that integrate seamlessly with Procore’s platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices around the globe

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