Grit Virtual Inc. Announces $840k Seed Round, Office Move, and Release Date.
WICHITA, KS. Feb. 26, 2018 — Grit Virtual, a next-generation construction management software company, was spun out of Builders Plus Construction in May 2017.
Today, Grit employs ten and is poised to launch their first release: a construction schedule generator employing virtual reality planning environments, algorithmic prioritization of tasks and a real-time feedback loop providing a transparent view of what actually occurs on construction jobsites.
Last Thursday, Grit hosted its first Industry Advisory Board in Wichita. The group was made up of 12 industry leaders from across the nation who were the first to get hands-on experience with Grit software and provide feedback. Video of their reactions will be released later this week.
Grit has completed pilots with Key Construction out of Wichita, KS and McCownGordon Construction out of Kansas City, MO. These pilots provided valuable insight into the value propositions of the software along with the framing of project datasets and the implementation that will be required at scale.
The team is putting final touches on the software and preparing to launch their beta version April 2nd. Join us for a sneak peek and some fun on Wednesday, February 28th at 5:30. You can RSVP by following the link below.
The growing team is doubling down on its commitment to surround itself with its client base. Beginning March 1st, Grit will move into new offices neighboring the Associated General Contractors of Kansas in Wichita’s Old Town Square.
Lastly, Grit is excited to announce the closing of an oversubscribed Seed Round, having raised $840,000. Investors include the international technology accelerator, Techstars, and a group of angel investors from around the state. Almost half of the round came from the construction executive team of Hi-Tech Interiors out of Manhattan, KS.
Jason McCracken, a member of the investment team from Hi-Tech stated,
“We have been searching internally for a software like Grit for some time. We are not only excited to see Grit grow, but to personally implement it on our upcoming projects as soon as possible.”
Network Kansas and the Allen Angel Capital Education program out of the University of Missouri finished out the round due to their faith in the team to create a novel type of project management software for the construction industry.
Lesa Mitchell, the Managing Director of Techstars KC said,
“We are thrilled with the progress of the team and see a great deal of global interest in the work they are doing.”
Techstars recently authored an article about why they think companies like Grit are poised for growth in the Midwest. You can find that article here: https://www.techstars.com/content/accelerators/boring-companies-biggest-disruptors/.
Chris Callen — email@example.com