Field Materials Raises $10.5M Series A to Revolutionize Contractor Procurement with AI-Driven Solutions

Field Materials, the leading AI procurement platform for contractors, has successfully raised $10,500,000 in its latest funding round—a pivotal milestone that sets the stage for the company’s next phase of growth. This impressive capital influx, backed by notable investors including Blumberg Capital, Zacua Ventures, and senior executives from industry giants like Lowe’s and Google, underscores the market’s confidence in Field Materials’ innovative approach to streamlining construction procurement. By harnessing the power of artificial intelligence, Field Materials empowers contractors to control and verify spending with unprecedented accuracy. Its cutting-edge web and mobile applications eliminate the need for labor-intensive manual data entry for quotes, invoices, packing slips, and receipts, which not only simplifies material purchasing and equipment rentals but also generates significant cost savings of 5-10% by automatically identifying billing errors. The company’s robust technology and visionary leadership, led by serial entrepreneurs with successful track records, have already transformed the procurement landscape in the construction industry. With this fresh injection of capital, Field Materials will further enhance its platform’s capabilities, expand its market reach, and invest in research and development to continue evolving its artificial intelligence tools. Moreover, the funding is poised to drive strategic initiatives that will help more contractors take control of their supply chain processes, heighten operational efficiency, and reduce overall project costs. This new chapter in Field Materials’ journey reflects a strategic commitment to not only refining the procurement experience but also accelerating digital transformation in the construction industry at large.