Construction insurance company Billy announced today that it has secured an additional $6.7 million in funding, bringing its total investment to $12.9 million. This new infusion of capital will be used to grow the company’s operations and expand its coverage area, making it available to more homes and businesses in need of protection from loss due to construction accidents and other unforeseen causes.
Nyasha Gutsa and Grant Robbins started Billy in 2020 as a way to help save construction businesses time and money on compliance management. Billy digitizes the construction compliance process, making it easier for contractors to keep up with requirements from multiple government agencies.
In a rapidly-paced economy, construction professionals must stay on top of ever-changing regulations in order to stay ahead of competitors. Gutsa and Robbins recognized this need and created Billy, a company that provides a SaaS platform to help contractors and developers comply with these rules. By operating a marketplace that connects insurers with construction professionals, Billy seeks to reduce risk for everyone involved in the construction process.
B Billy is distinctive amongst construction tech companies because it was specifically designed to help carriers understand their clients’ risk on a construction site. This provides carriers with a critical advantage as they try to avoid costly lawsuits.
With increasing regulation and increasing liability, contractors are turning to automation to reduce the burden of their insurance requirements. Billy is hoping its Roboform software can help do just that by streamlining the process of managing insurance for a project.
In May 2022, Gutsa started fundraising for Billy, a technology startup. Despite the challenges of pitching to investors, he said the experience was worth it because of the potential for Billy’s success. Last year, Black founders raised just 1% of all venture capital funding-a slight dip from the record 1.3% allocated to them in 2021. But despite these challenges and critics from some investors, Gutsa remains optimistic about Billy’s potential and believes in their mission to make a positive impact on society using technology.
Billy is a new construction technology company that has raised capital from Entrada Ventures. The company is aimed at helping the building industry automated and more efficient, which will benefit both developers and builders. With its new financial resources, Billy plans to scale quickly in order to capitalize on the growing demand for its services.
Billy is a smart and cutting-edge insurance app that streamlines the process of obtaining insurance for small, ground-up construction projects. Zachary Aarons, the co-founder of MetaProp, recognized the potential in Billy and invested in the company. Based on his experience working on small construction projects, Zachary knows how difficult it can be to deal with insurance issues and he believes that Billy will make life much easier for both builders and insurers.
Billy’s digital brokerage is poised to help insurers gain a foothold in the ever-growing construction industry. With its suite of tools and services, Billy is quickly becoming a leading player in this burgeoning market. Its growing customer base and recent contract with Procore show that the company is on the right track, and it looks poised to continue growing at an impressive pace.
Gutsa has dedicated his life to the service of others, and he shows no signs of slowing down. He has devoted his time to working for the Fisher family construction company, and after completing college two years ahead of schedule, they offered him a scholarship in honor of his friend Michael Tyler Fisher. Gutsa is a hard-working young man with a big heart, and he is committed to serving others even after Michael’s death.
It was an early morning at Procore, and Gerald had just finished his day’s work. Heading home, he walked into the building’s underground parking garage and saw a familiar face: Wynton, one of the black employees at Procore. Gerald smiled warmly at Wynton, recalling all the times they had worked shoulder-to-shoulder on projects. It was an experience few Black people could say they shared in corporate America, but Gerald was proud to be part of such a supportive team. After catching up for a brief chat, Gerald headed back outdoors and hailed a taxi home. As
Historically, Black businesses and entrepreneurs have been excluded from many aspects of American life, including the economy. Procore’s inclusion of a Black-owned company is an important development, as it signifies that businesses can be successful regardless of race or gender.
Gutsa’s journey began when she was deported from Zimbabwe after she refused to join the government-sponsored forced labor program. After enduring months of abuse and imprisonment, Gutsa made her way to the United States in search of a better life. In the U.S., Gutsa faced many challenges, but she persevered and pursued her dream of becoming a fashion designer. Her triumphs inspired others to pursue their dreams even in difficult circumstances, and her example shows that anything is possible if you are willing to take risks and do what is best for yourself.