In the fast-paced world of construction, efficiency and accuracy in estimating can be the difference between a project’s success or failure. Recognizing the need for innovation in this critical area, Ediphi, a trailblazer in cloud-based estimating solutions, has recently marked a significant milestone by securing $12 million in Series A funding. Spearheaded by Norwest Venture Partners, this funding round is set to propel Ediphi’s mission to modernize and streamline the estimating process for contractors worldwide.

The recent investment follows a successful $6.5 million seed funding round in November 2023, led by Suffolk Technologies. This financial backing underscores the construction industry’s readiness to embrace advanced technologies that challenge the status quo of on-premise, manual estimating practices.

Historically, the construction industry has been reliant on manual, time-consuming processes for generating price quotes, with nearly 75% of contractors stuck using legacy methods. Ediphi is poised to revolutionize this landscape with its innovative, cloud-native platform designed to significantly reduce the time and cost associated with estimating—transforming a process that traditionally takes days or weeks into a matter of hours.

Sean Jacobsohn, a Norwest partner, highlights Ediphi’s potential to disrupt the preconstruction market: “Ediphi saves time and money by accelerating the estimating process, while also enabling unprecedented accuracy, scalability, and collaboration.” This sentiment is echoed by the industry’s response to Ediphi’s approach, which leverages a rich cloud database of scope and historical cost data to produce informative estimates from minimal project inputs.

The vision behind Ediphi is not just about technological advancement; it’s about empowering those who shape our built environment. With the latest funding, Ediphi aims to expand its team, invest further in product innovation, and increase its market share. This investment in growth reflects a commitment to not only improving estimating processes but also to fostering success in downstream construction projects.

Dustin DeVan, CEO of Ediphi, brings a personal passion to the company’s mission, fueled by his own experiences in the construction industry and the success of his previous venture, BuildingConnected, which was acquired by Autodesk for $275 million. Together with CTO Michael Navarro, they form a leadership team with deep expertise and a shared vision for a future where construction estimating is centralized, efficient, and highly accurate.

The journey of Ediphi, underscored by its recent Series A funding, illustrates a broader movement towards digital transformation in the construction industry. As contractors seek to move away from desktop applications and embrace modern cloud infrastructures, solutions like Ediphi stand at the forefront of this shift—promising a more efficient, profitable, and collaborative future for construction estimating.

Check out more news and blogs here