What does Field Materials do?
Field Materials is a Charlotte, NC-based developer offering an AI platform designed specifically for material and equipment procurement in the construction sector. The platform uses proprietary large language models to read vendor quotes, delivery slips, and invoices, automatically integrating data into major construction accounting systems.
How much did they raise?
The company raised $10.5M in a Series A funding round led by Navitas Capital, with additional participation from Blumberg Capital, DivcoWest Ventures, S16vc, and Superseed Ventures, bringing its total funding close to $19M.
What are their plans for the money?
With the new capital, Field Materials plans to double its team and triple its revenue in 2025, which could further reduce processing times, improve profit margins, and help construction firms secure volume pricing by streamlining procurement processes.
What have they achieved so far?
Despite being launched less than 2 years ago, Field Materials is already processing over $360M in material and equipment purchases annually across more than 8,000 vendors, and it supports major US contractors in 27 states and across nine construction trades.
