Cemex Ventures funds job progress-tracking app developer

The venture capital unit of Cemex S.A.B. de C.V. has invested in StructionSite, a new technology player promoting digital worksite models to reduce time required to calculate construction progress—a function representing up to 2 percent of total project costs. StructionSite software generates models with images from 360-degree view cameras. Through the user’s position, plus Computer Vision and Machine Learning technologies, it analyzes and illustrates exterior and interior work status. The application obtains contextualized information to enable strategic decision making, along with improved coordination between project principals and the trades. It offers what Cemex Ventures calls deep differential value by combining support on a web-based platform and mobile application, plus ease of use and integration with other tools to streamline information flow.

Structure iiStructionSite participated in a ‘500 Startups’ acceleration program, where it demonstrated a business model sufficient to close software sales with major contractors less than two years after launching. That track record positioned the firm to become what Cemex Ventures considers “a leading solution to transform the construction industry.” In addition to funding, Cemex Ventures expects to increase StructionSite’s North American presence and help it explore international prospects through access to global research & development, marketing and communication infrastructure supporting cement, concrete and aggregate operations across 50-plus countries.

Launched in 2017, Cemex Ventures seeks to capitalize on opportunity areas in the construction ecosystem through sustainable solutions. Management has developed an open collaborative platform to lead the revolution of the construction industry, engaging startups, entrepreneurs, universities, and other stakeholders to tackle challenges and shape the industry’s future.