The Autodesk Forge Fund Leads Rhumbix's $8M Funding Round
SAN FRANCISCO, Aug. 15, 2018 (GLOBE NEWSWIRE) -- Rhumbix, a powerful mobile platform designed for smarter construction sites, has closed an $8 million round of funding led by Autodesk, Inc., a world leader in cloud-based construction project management software connecting teams and data from design through construction. This information is immediately viewable in the Rhumbix web app, where users can track labor productivity and budget versus actual performance each day. For the first time, owners, general contractors, and subcontractors can know daily whether they made or lost money on project sites, and have visibility into the factors driving production gains and losses. “The Autodesk Forge Fund invested in six construction technology startups in the last year, including Rhumbix, and each of these investments demonstrates our commitment to provide customers a more connected, productive, and profitable construction process.” Autodesk also recently announced the acquisition of Assemble Systems, Inc., a construction technology startup focused on preconstruction. The Rhumbix platform, which is currently being used by 12 of the ENR Top 30 GCs and Subcontractors in the United States, has delivered ROIs ranging from 500 to 800 percent by helping to eliminate the gap between the office and field via real-time data sharing.