Briq, the next building block in tech’s reconstruction of the construction business, raises $3 million

Bassem Hamdy was in the construction industry for quite a long time.

He spent the last few years at the construction software industry Procore, now a $3 billion company growing technology to the construction business, and now Hamdy is ready to unveil his second act as chief executive and co-founder of Briq, a brand new computer software service to the business.

Hamdy started Briq using their or her own cash, gathered through secondary sales as Procore climbed the ranks of startups to achieve its status as a construction industry unicorn. And the company has only increased $3 million in financing to fund its expansion.

“Having sufficient secondaries you can afford to make your own decisions,” Hamdy states.

His experience in construction dates back to his earliest days. Hailing from the category of engineers, Hamdy explains himself as a black sheep who went in to the financial services industry — but building kept yanking back him.

Beginning in the late nineties with CMIC, which was construction enterprise resource planning, and continuing through to Procore, Hamdy has had success after success in the business, but Briq may be the culmination of most that experience, he states.

“just as far as dataentry helps people it has data intellect software that changes things,” says Hamdy.

Even the Santa Barbara, Calif.-based company a part of a growing number of Southern California technology startups building organizations to service large swaths of specific businesses — namely real estate and construction.

Already, Procore is currently a $3 billion behemoth, and ServiceTitan has become a brand new company also, having its applications and services to ac and appliance repairmen.

Now Hamdy’s Briq, with backing from Eniac Ventures along with MetaProp NYC, will be expecting to unite their ranks.

“Bassem built and helped run the most prosperous construction computer software organizations on the planet. It’s rare and humbling to have a chance to help develop a business from the bottom with an industry legend,” says Tim Young, heritage general partner at Eniac Ventures . “The technology Bassem along with his team are building is going to do something that the industry has never seen before: break up data silos to leverage information in realtime. Bassem has built and run the most prosperous construction computer software organizations in the Earth, along with also his knowledge of the building space and also the data distance is next to none”

The company, formerly called Brickschain, works on the blend of a blockchain-based immutable ledger and machine learning programs to provide strategic insights into buildings and project improvements.

Briq’s software can predict things just like the accomplishment of individual projects, where requirement for new endeavors is likely to occur and the best way to get in touch data around construction processes.

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