The construction materials market is fragmented, according to GlobalFair CEO Shaily Garg, because it involves layers of both supply chain and logistics complexities. In a 2021 survey for the National Association of Home Builders and Wells Fargo, the vast majority of builders said that the time it takes to obtain materials — and the cost of materials — continue to be the top issues they face.

Garg posits that technology can help, which is why she launched GlobalFair in 2020 with Ashish Chandra. A business-to-business startup, GlobalFair aims to simplify the procurement of “ready-to-install” materials such as countertops, quartz countertops, cabinets, natural stones and tiles with a digital marketplace for U.S. construction contractors.

GlobalFair today announced that it raised $20 million in a Series A funding round led by Lightspeed — a mix of equity ($12 million) and debt ($8 million) — with participation from Saama Capital, India Quotient, AUM Ventures and Stride Ventures. It brings the company’s total raised to $22 million following a $2 million seed round last February.

“The idea of GlobalFair was something Chandra and I felt strongly about, given the fragmented nature of construction businesses,” Garg said. “Across the world, global supply chain challenges are resulting in construction delays and labor shortages.”

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