StruckShare

StructShare is a technology company that develops a procurement and materials management platform for specialty trade contractors in the construction industry. Launched in 2021, StructShare's software solution streamlines the entire procurement cycle, from field requisitions and approval flows to purchase orders, RFQs, deliveries, and invoice reconciliation. The platform connects the field, office, warehouse, and suppliers on a centralized cloud-based system and mobile app, eliminating double entry, reducing errors, and improving cost control.

The software automates many aspects of the procurement process, including creating purchase orders, tracking deliveries, managing warehouse inventory, and identifying issues like price increases or availability problems. It integrates with project management platforms like Procore and enterprise resource planning systems such as Sage 300 and QuickBooks. StructShare's solution aims to replace traditional email-based workflows with a fully digital and automated process to improve field productivity, visibility, and cost savings.

In March 2023, StructShare secured USD 8 million in funding led by KOMPAS, with participation from CEMEX Ventures and other investors. The company reported its customer base grew by 300% year-over-year prior to this funding round. StructShare has development teams in Israel and sales, service, and marketing operations serving the US, Canada, and Australia.

Key customers and partnerships

StructShare has formed strategic partnerships with major suppliers and distributors in the construction industry. In December 2022, the company announced an integration with Graybar, a leader in electrical B2B distribution. This integration allows Graybar's customers to access their specific account pricing and product catalogs through the StructShare platform.

The company's customer base includes specialty contractors like Capital Electric Inc., an electrical contractor in Indiana, and Perfect Stucco, a facades contractor in New York City. These customers have reported benefits such as time and cost savings through streamlined purchasing processes and improved competitive pricing. As of February 2023, StructShare had helped Perfect Stucco increase its RFQ to material delivery speed by 3x and saved the company from needing to hire additional administrative staff to handle a volume of 2,500 invoices per year.