AUSTIN, TX, Dec 3, 2021 – Billd, the leading provider of material financing for commercial trade contractors, today announced a new integration with Autodesk Construction Cloud, a portfolio of software and services that combines advanced technology, a builders network and predictive insights for construction professionals. A customized Billd Partner Card is now available within Autodesk Build, the project management and field execution solution of Autodesk Construction Cloud, so trade contractors can access unique financing solutions directly within the platform where they manage the rest of their project workflows.
With the new integration, Billd’s premier financing offerings are now available to joint customers, including those who use BuildingConnected, Autodesk Construction Cloud’s builders network featuring more than one million construction professionals, and Bid Board Pro, a solution that centralizes bid invites in one place and allows trade contractors to easily track project files, deadlines and more during each stage of the bidding process.
Billd has taken major strides in the construction industry to provide financing terms that align with payment cycles. Trade contractors and suppliers are typically the last to get paid, waiting on average over 85 days. A recent US market report from Billd that surveyed over 500 contractors found that 63% of contractors pay for materials before receiving payment for their work, while 74% of contractors have terms with their suppliers of 30 days or less. Billd works to help alleviate this financial burden and allows trade contractors to buy commercial materials upfront and get projects started faster.
“Typically, trade contractors need to finance their projects without getting paid upfront which can create a substantial cash flow burden,” said Sidharth Haksar, head of construction strategy, Autodesk Construction Solutions. “With material prices continuing to rise, trade contractors have an increasing need to manage their working capital more efficiently. Through our joint initiative with Billd, trade contractors on Autodesk Construction Cloud will be able to directly access unique cash flow management and project financing solutions so they can bid, finance and complete more projects to grow their business.”
“Lack of supply chain finance resources has shortchanged trade contractors for decades, causing lost bids and severely straining their bottom line,” said Chris Doyle, CEO of Billd. “We’re thrilled to roll out new finance offerings and this new integration, directly linking Billd’s reliable material finance solutions right to Autodesk Construction Cloud, where leading teams are already collaborating throughout their project lifecycles.”
About Billd
Billd was started by Christopher Doyle and Jesse Weissburg, industry veterans in both construction and finance. Chris and Jesse were inspired to launch Billd to bring the financial power of Wall Street to the construction jobsite, allowing contractors to bypass project hurdles with access to upfront funds while enabling suppliers to sell more materials with less risk. For contractors who usually aren’t paid until more than 90 days from purchasing materials, Billd provides 120-day terms so they can stabilize cash flow and more effectively grow their businesses. With a deep understanding of the construction industry, Billd knows traditional credit metrics are poor predictors for risk in this vertical segment and has built a variety of industry-specific proprietary analytic tools to better assess risk in the construction industry.
