Four Austin startups have combined to raise $58.5 million in separate funding deals in the past week.
The largest of the funding deals was raised by Billd, a startup focused on construction material financing, which landed $30 million to expand its product and technology.
The round was led by LL Funds and included investment from RJT Credit and Ullysses Management.
Billd was founded in 2018 by Chris Doyle and Jesse Weissburg to help construction contractors gain access to the money needed to purchase building materials. The company’s platform lets users finance and buy materials from any supplier, who are in turn paid up front through Billd.
The company said contractors often pay for materials before they are paid for their work, and they themselves are often the last ones to be paid, on average waiting 60 days to get paid. At the same time contractors usually having to pay back their suppliers within 30 days.
Billdlooks to reduce these pain points by letting contractors finance the materials and pay Billd back within 120 days.
With the latest funding, the company said it intends to expand its product and technology offerings. It also will continue work to partner with platforms used widely in the construction industry.
The latest funding round follows a $60 million debt and equity round the company raised in 2019. Billd also said it has surpassed $100 million in revenue….