QuoteToMe raises $2.5M to scale to the next level
By
Emily Rendell-Watson
in the
Tech Roundup
QuoteToMe has raised $2.5 million in a fully-subscribed series seed round, which is in addition to the $1 million it raised a year ago.
While last year's raise was rooted in angel investments, the most recent funds were secured from venture capital investors — led by Builders VC in San Francisco, which is focused on the construction proptech space, and Blackhorn Ventures in Colorado.
"This will give us the firepower and resources we need to scale," said CEO John Chabluk. "It will be exciting for us to really open up the sales engine, and grow our sales organization. We are looking at a U.S. expansion within the year, and have a pilot project lined up in Knoxville, Tenn."
QuoteToMe aims to help contractors order materials and equipment digitally by centralizing communication and handling quote comparisons which can often result in better pricing. It makes money by charging a small percentage on each transaction. Chabluk explained that the proceeds from the round will primarily be used for sales, marketing, and engineering.
"We are very focused on the procure-to-pay workflow, and that whole workflow starts with a quote," Chabluk said. "This fundraise will help us expand our feature-set to complete that workflow, digitizing the whole process from order requisition to invoice reconciliation."