Augment Ventures March 2023
Fund III Follow-On Investment: Rivet
Rivet is a workforce and asset scheduling and management platform for the commercial skilled trade industry. Augment led the company’s Series Seed round in October 2021. Since our initial investment, Rivet has grown its customer base 10X, expanded its product offering, and added key members to its team.
In January, Rivet closed on its Series Seed-3 round led by Bay Area firm defy, at over 2.5x the previous round valuation. Augment invested its pro rata share. For the news on the round, please click here.
We’re excited to partner with defy founder Neil Sequeira to support the incredible Rivet team as they continue to build the industry-leading labor operations platform for commercial construction contractors!
Ryan Meitl, co-founder and CEO of Rivet:
“The construction industry is super dynamic, and the adage that the plan is only good until you start the work is true in construction, and it’s amplified 10 times from most other industries. So mistakes typically cascade into bigger and bigger problems and losses. And it all starts with labor: getting the right people in the right job, and getting them coordinated across many jobs, which are usually changing constantly.”
Click here to schedule a demo.
Deloitte Construction and Engineering 2023 Outlook
Of note is the increased use of emerging technologies by developers and contractors to increase profits and enhance project execution.
Augment portfolio companies Rivet and Guardhat are at the forefront of these trends.
For the full report, please click here.
In the News
Co-Founder Named Supply Chain Rock Star
ConverSight’s co-founder and CEO, Ganesh Gandhieswaran, was named a 2023 Rock Star of the Supply Chain by Food Logistics magazine. Click here for the press release and here for the full list.
Triad Business Journal named Fluree as a 2023 “Startup to Watch” in the Triad region of North Carolina. Click here for the announcement and full list. For their interview with co-founder and CEO Brian Platz, click here.
Guardhat will bring 3M’s Safety Inspection Manager (SIM) into its Industrial Internet of People (IIoP) platform to accelerate product development. Click here for the press release.