The Autodesk Forge Fund Leads Rhumbix’s $8M Funding Round
August 15, 2018
SAN FRANCISCO -- Rhumbix, a powerful mobile platform designed for smarter construction sites, has closed an $8 million round of funding led by Autodesk, Inc., a world leader in cloud-based construction project management software connecting teams and data from design through construction.
“For the construction industry to fully-realize the benefits of digitization, field data needs to feed into a common data platform where it can be united with all aspects of project and building information modeling data. Autodesk is connecting teams and information from design through construction on its project management platform. This collaboration allows Rhumbix’s industry-leading field data and labor productivity platform with Autodesk BIM 360 laying the foundation for unprecedented levels of insight into project performance and cost controls,” said Zach Scheel, CEO and co-founder of Rhumbix.
Rhumbix modernizes construction field operations, helping builders go paperless in the field and improving how they measure and manage labor productivity to be more profitable. The Rhumbix mobile app digitizes and standardizes field data related to time and attendance, production tracking and benchmarking, daily reporting, field work orders, QA/QC inspections, and health and safety reporting. This information is immediately viewable in the Rhumbix web app, where users can track labor productivity and budget versus actual performance each day. For the first time, owners, general contractors, and subcontractors can know daily whether they made or lost money on project sites, and have visibility into the factors driving production gains and losses.
“Rhumbix is proven to increase labor productivity and profitability, which is exactly the type of results we seek to pass along to our existing and future construction customers,” said Jim Lynch, Vice President of Construction Products, Autodesk. “The Autodesk Forge Fund invested in six construction technology startups in the last year, including Rhumbix, and each of these investments demonstrates our commitment to provide customers a more connected, productive, and profitable construction process.” Autodesk also recently announced the acquisition of Assemble Systems, Inc., a construction technology startup focused on preconstruction.
Autodesk BIM 360 is a leading construction project management platform. Autodesk Forge is a connected developer cloud platform enabling customers to create customized, scalable solutions for engineering, construction and manufacturing challenges.
The Rhumbix platform, which is currently being used by 12 of the ENR Top 30 GCs and Subcontractors in the United States, has delivered ROIs ranging from 500 to 800 percent by helping to eliminate the gap between the office and field via real-time data sharing.
“The technology is proven,” said Rhumbix COO and co-founder Drew DeWalt. “Select users are seeing a five to 10 percent improvement in labor productivity, which results in a 200 to 300 percent increase in profitability. This commitment by Autodesk will allow us to continue raising the bar to provide a solution for builders looking to streamline their operations and drive revenue.”
Rhumbix modernizes construction field operations, helping builders go paperless in the field and improving how they measure and manage labor productivity. Their Field Intelligence Platform™ is a cloud-based mobile workforce management solution that collects and digitizes data from previously paper-based workflows. This ensures all project stakeholders have the best data, when they need it, to make better decisions and draw actionable insights setting a standard for the “digital age” foreman.