Briq Raises $8M at $150M Valuation for Construction Financial Automation Platform

Construction financial automation platform, Briq, has raised $8 million in an extension round at a $150 million valuation. The startup, which saw a 40% growth in annual recurring revenue in 2023, aims to automate financial workflows for construction companies. Briq utilizes generative automation bots to automate business processes, such as accounts payable and payroll processing. The company's products, Briq AutoPilot and Briq CoPilot, aim to reduce overhead costs and increase profit margins for construction firms. Briq plans to expand into new geographies, including the Middle East and Asia, in the coming years.