Saudi Construction Tech Startup BRKZ Secures $17M in Series A Funding
The construction industry is notoriously fragmented, manual, and opaque, making it a challenging environment for contractors to navigate. From managing multiple suppliers to enduring lengthy negotiations and dealing with delayed payments, the hurdles are numerous. Now, imagine these obstacles magnified in a country like Saudi Arabia, where trillion-dollar infrastructure and real estate projects are in full swing. This is the reality that BRKZ, a Riyadh-based construction tech startup, seeks to address.
Founded in 2023 by Ibrahim Manna, a former executive at Uber subsidiary Careem, BRKZ is on a mission to revolutionize construction procurement. Manna’s journey began after purchasing a family home in 2020 and experiencing firsthand the inefficiencies of the construction supply chain. This personal frustration fueled his vision to modernize the industry, leading to the creation of BRKZ.
BRKZ: Streamlining Construction Procurement
BRKZ offers a tech-enabled managed marketplace that streamlines procurement processes and provides tailored financing solutions. By leveraging technology, the platform enables contractors and factories to procure essential building materials like cement, steel, and wood with ease. The company’s innovative approach includes transparent pricing, competitive quotes in just 20 minutes, and buy now, pay later financing options.
Through BRKZ, contractors and factories benefit from enhanced visibility, reduced coordination issues, and expanded sourcing options. The platform’s user-friendly interface has attracted over 850 contractors and factories, facilitating major projects like King Salman Park, Neom, and the Red Sea Project.
Over the past year, BRKZ has experienced remarkable growth, expanding from 1,200 SKUs and 350 suppliers to over 7,000 SKUs and 1,100 suppliers. This surge in activity has translated into a quadrupling of revenue in 2024, solidifying BRKZ’s position as a key player in the construction tech sector.
Driving Innovation and Expansion
Looking ahead, BRKZ has ambitious plans to diversify its revenue streams and broaden its service offerings. In addition to transaction fees and financing solutions, the company aims to import hard-to-source construction materials directly from global markets. By establishing trade corridors with countries like China, BRKZ seeks to meet the evolving needs of contractors, developers, and suppliers in Saudi Arabia.
Furthermore, BRKZ is set to expand its footprint across the country, targeting additional provinces to enhance its reach. The company’s commitment to innovation extends beyond procurement, with plans to leverage AI and machine learning to automate pricing predictability and streamline internal processes.
In a statement, Dany Farha, co-founder and managing partner at BECO Capital, expressed excitement about BRKZ’s trajectory, emphasizing the company’s potential to drive efficiencies in the construction sector. With $17 million in Series A funding and a clear roadmap for growth, BRKZ is poised to become a comprehensive procurement hub in the region.
In conclusion, BRKZ’s success story underscores the transformative power of technology in modernizing traditional industries. By reimagining construction procurement and embracing innovation, the company is paving the way for a more efficient and transparent ecosystem in Saudi Arabia’s construction landscape. As BRKZ continues to evolve and expand its capabilities, the future of construction tech looks brighter than ever.
