Brickeye announces $10M Series B financing to scale construction risk solutions globally. Brickeye, a Toronto-based construction technology company delivering IoT monitoring and risk mitigation solutions, has announced a $10 million Series B round led by GreenSky Ventures Fund VI, Brightspark Ventures, Graphite Ventures, Export Development Canada (EDC), Beauchamp Construction, and a strategic investment from a major North American building materials supplier. (For more information, see press release here) Construction projects can face significant financial exposure due to undetected issues such as water leaks, environmental instability, and improper concrete curing. These problems often surface too late, resulting in costly damage, schedule overruns, and insurance claims. Brickeye addresses this gap by combining IoT infrastructure, software, and automated controls to detect, document, and prevent issues before they escalate. See here for an article recently published by Engineering News-Record on Builders' Risk Insurance and the importance of Brickeye's solution. To date, Brickeye has been deployed on more than 3,000 active construction sites across over 20 countries. The company reported 150% year-over-year revenue growth and was recently recognized in Deloitte's 2025 Technology Fast 50 as one of Canada's fastest-growing technology companies. "Brickeye demonstrates how IoT solutions, paired with innovations like BuildersRiskIQ, can meaningfully de-risk projects and mitigate losses. We're proud to support the company's next stage of growth," said Mike List, Founder and Managing Partner at GreenSky Ventures. The new capital will support continued development of Brickeye's IoT-enabled software and AI capabilities, expansion of engineering and field operations, and increased global commercial activity. The company is also extending its services beyond residential and commercial towers into sectors such as healthcare infrastructure and data centers, where downtime and risk exposure are especially critical. "We're scaling a platform that delivers measurable results for contractors, developers, and insurers. This investment accelerates our ability to help customers reduce risk and improve profitability across all stages of construction," said Tim Angus, CEO of Brickeye. About Brickeye: Brickeye is a construction IoT and risk mitigation services company trusted by contractors, developers, owners, and insurers across 20+ countries. Its platform delivers real-time monitoring, automated risk controls, and actionable insights for construction stakeholders. Learn more at brickeye.com. GreenSky Ventures is a venture capital firm that invests in early-stage Canadian technology startups. Through its six affiliated GreenSky Accelerator Funds I - VI, the firm provides capital and strategic guidance to high-growth potential companies. Learn more at greensky.vc

Brickeye launches BuildersRiskIQ to cut project risks.

TORONTO, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Brickeye, a leading construction IoT and data analytics technology company, announces that they have been named to the inaugural Foresight 50, recognizing the most investible cleantech ventures in Canada. An independent panel of judges selected the 50 companies based on criteria including investability, potential environmental and employment impact, and probability of success. “We are honored to be recognized as one of Canada’s 50 most investible cleantech ventures,” said Tim Angus, President, and CEO of Brickeye. “This recognition is a testament to the value and impact of Brickeye’s innovative software solutions. We extend our congratulations to our fellow cleantech leaders on the list, all of whom are contributing to a more sustainable and resilient future for Canada.” The Foresight 50 is prepared by Foresight Canada, Canada’s cleantech accelerator, which brings together innovators, industry, investors, government, and academia to address today’s most urgent climate issues and support a global transition to a green economy