XBuild, a company focused on leveraging artificial intelligence (AI) for residential construction, has raised USD 19 million in early funding to make an AI-powered tool to analyze the costs of construction projects.
The funding round was led by N47, with support from Rackhouse Ventures as well as Andreessen Horowitz.
XBuild was started by the team behind Firemaps Inc., a company that helps homeowners in California protect their homes from wildfires by connecting them with contractors for safety upgrades.
XBuild’s new platform will first focus on estimating costs for residential roofing, and later expand to include other services like concrete, landscaping, painting, windows and doors, HVAC, and more. The platform helps contractors quickly estimate project costs and give quotes to customers.
Using AI, the system looks at photos, measurements, and project details to compare them with similar projects. It then generates accurate estimates based on factors like local pricing, building codes, etc.
Since launching its first product last year, XBuild has completed over 15,000 projects worth USD 250 million. This has saved contractors more than 40,000 hours on creating estimates.
With its new Roofing Proposals product, XBuild hopes to replace manual estimates, saving more time and money for contractors. This will improve profit margins and make homeowners happier with clearer quotes.
This month, XBuild will launch its AI copilot for roofing proposals, with strategies to expand it to other areas of construction next month.
Executive Statement
According to co-founder Jahan Khanna, construction and the cost of building is the last space that truly has not been disrupted by technology in the way most of the rest of the world has. It is the final frontier.
According to Matthew Cowan, general partner at N47, estimating and proposal generation remain major bottlenecks for contractors, yet legacy tools haven’t kept pace with AI capabilities or the realities of how the industry works today.