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Kojo is redesigning, growing and evolving its SaaS construction technology platform

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News Tech: Kojo, a startup that aims to help U.S. construction companies manage their material supply chains “seamlessly,” has raised $39 million in a Series C funding round led by Battery Ventures. The company, founded as Agora in 2018, raised $33 million in a Series B round led by Tiger Global in August 2021. I have been busy since then. Earlier this year, the startup renamed itself Kojo and expanded from one industry of electrical work to eight industries, including mechanical, concrete, drywall, roofing, flooring, site preparation, and self-run general contractors.

Today, he has processed over $1 billion in material orders for thousands of users and operates as a SaaS company. In other words, we sell annual subscriptions to our software. The need for greater efficiency has long existed in the $800 billion annual construction industry, and productivity issues have plagued the industry for decades. Given today’s rising construction costs, material and labor shortages, and supply chain constraints, contractors are in greater demand than ever for technology that helps them work more efficiently and cost-effectively.

Simply put, the startup’s mission is to help clients reduce the amount of waste they generate in their projects and significantly reduce their spending on materials. In other words, we provide software that helps contractors get the best prices for the materials they use in their construction projects, so they can save more money, move faster, and waste less. CEO and co-founder Maria Rioumine said: Since she launched her product in early 2020, Kojo has facilitated the construction of nearly 10,000 projects, including hospitals, schools, stadiums, office buildings and multi-family developments.

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Kojo claims contractors can save hundreds of thousands of dollars a year in materials costs because he cuts order turnaround times by 50 percent while creating far less waste. Rioumine declined to disclose specific revenue figures, but Kojo’s annual recurring revenue (ARR) has grown 3.5 times over the past year, he said. And in the last 18 months, the number of users has grown 12 times. Also last year, Kojo more than doubled his team to 90 employees and launched his three new products: Inventory Management, Bill of Materials (BOM), and Invoice Verification.

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