Fieldwire, the US-based developer of a collaboration app for the construction industry, closed $6.6m in funding today from backers including Bloomberg Beta, a corporate venturing subsidiary of media company Bloomberg.
Venture capital firm Formation 8 led the round, which also included VC firm Trinity Ventures and startup accelerator AngelPad.
Fieldwire has created a mobile collaboration platform for construction teams that includes a task management engine, mobile plan and photo viewing, and reporting and archiving features. The app is intended to increase efficiency in an industry where an estimated 90% of projects finish late or over budget.
The round includes the $1.1m in seed funding raised by Fieldwire from investors including Bloomberg Beta and Trinity Ventures as of February this year. Fieldwire originally graduated from AngelPad’s May 2013 batch.