Field Materials: Revolutionizing Construction Procurement with AI
May 2, 2025, 3:38 pm
Location: United States, California, San Jose
Employees: 11-50
Founded date: 2022
Total raised: $18.65M
In the bustling world of construction, where time is money, a new player is shaking things up. Field Materials, an innovative startup, has recently secured $10.5 million in a Series A funding round. This brings its total funding to nearly $19 million. The goal? To automate the procurement of materials and equipment in the construction industry using artificial intelligence.
Construction is a massive industry in the United States, valued at around $600 billion. Yet, it still clings to outdated methods. Phone calls, emails, and manual data entry dominate the procurement process. Field Materials aims to change that. Their AI platform is designed to streamline operations, making procurement as smooth as a well-oiled machine.
The funding round was led by Navitas Capital, with participation from several other notable investors, including Blumberg Capital and DivcoWest Ventures. This oversubscribed round reflects the growing interest in technology that can transform traditional industries.
Field Materials utilizes proprietary large language models to read vendor quotes, delivery slips, and invoices. This technology automatically extracts data on materials, units, and quantities, entering it into nine major construction accounting systems. The result? A staggering 90% reduction in purchase order and invoice processing time. This efficiency not only improves profit margins but also allows construction companies to secure better volume pricing.
The startup has already made significant strides in the market. It boasts a client list that includes some of the largest contractors in the U.S., such as Swinerton and Teichert. These companies manage over 4,500 construction projects using Field Materials’ platform. The demand for such solutions is palpable, especially in a climate where tariffs are impacting material prices.
Co-founder and CEO Eldar Sadikov, who previously sold his AI startup Jetlore to PayPal, understands the challenges the construction industry faces. He and co-founder Victor Gane, who has a background in civil engineering, launched Field Materials in 2022. Their combined expertise has allowed them to create an AI-native product that is easy to adopt and requires minimal training.
The construction industry is often seen as slow to adapt to new technologies. However, the need for innovation is clear. Field Materials is stepping into this gap, providing a solution that not only meets current demands but anticipates future needs. The startup is already processing over $360 million in material and equipment purchases annually from more than 8,000 vendors. It serves customers across 27 states and nine different construction trades.
With the fresh capital, Field Materials plans to double its team and triple its revenue in 2025. This ambitious growth strategy is not just about numbers; it’s about delivering the AI capabilities that the industry desperately needs. The construction sector is ripe for disruption, and Field Materials is poised to lead the charge.
The implications of this technology extend beyond mere efficiency. As AI continues to evolve, it promises to replace many routine tasks currently performed by humans. This shift could redefine roles within the industry, making some jobs obsolete while creating new opportunities in tech and management.
Travis Putnam, managing partner at Navitas Capital, emphasizes the transformative potential of AI in construction. He sees Field Materials as a prime example of how software can automate routine tasks, freeing up human resources for more complex challenges. This perspective highlights a broader trend: the increasing reliance on technology to enhance productivity and reduce costs.
Field Materials is not just another tech startup; it’s a beacon of change in an industry that has long resisted it. The company’s approach is not merely about automating tasks; it’s about rethinking how construction procurement can be done. By leveraging AI, Field Materials is setting a new standard for efficiency and accuracy.
As the construction industry grapples with rising costs and supply chain challenges, solutions like Field Materials become essential. The startup’s ability to process vast amounts of data quickly and accurately can help companies navigate these turbulent waters.
The future looks bright for Field Materials. With its innovative platform and a growing list of satisfied customers, the company is well-positioned to become a leader in construction procurement. The road ahead may be challenging, but the potential rewards are immense.
In conclusion, Field Materials is more than just a tech company; it’s a catalyst for change in the construction industry. By harnessing the power of AI, it is transforming procurement processes, improving efficiency, and paving the way for a more streamlined future. As the construction landscape continues to evolve, Field Materials stands ready to lead the charge, proving that innovation can indeed build a better tomorrow.
Construction is a massive industry in the United States, valued at around $600 billion. Yet, it still clings to outdated methods. Phone calls, emails, and manual data entry dominate the procurement process. Field Materials aims to change that. Their AI platform is designed to streamline operations, making procurement as smooth as a well-oiled machine.
The funding round was led by Navitas Capital, with participation from several other notable investors, including Blumberg Capital and DivcoWest Ventures. This oversubscribed round reflects the growing interest in technology that can transform traditional industries.
Field Materials utilizes proprietary large language models to read vendor quotes, delivery slips, and invoices. This technology automatically extracts data on materials, units, and quantities, entering it into nine major construction accounting systems. The result? A staggering 90% reduction in purchase order and invoice processing time. This efficiency not only improves profit margins but also allows construction companies to secure better volume pricing.
The startup has already made significant strides in the market. It boasts a client list that includes some of the largest contractors in the U.S., such as Swinerton and Teichert. These companies manage over 4,500 construction projects using Field Materials’ platform. The demand for such solutions is palpable, especially in a climate where tariffs are impacting material prices.
Co-founder and CEO Eldar Sadikov, who previously sold his AI startup Jetlore to PayPal, understands the challenges the construction industry faces. He and co-founder Victor Gane, who has a background in civil engineering, launched Field Materials in 2022. Their combined expertise has allowed them to create an AI-native product that is easy to adopt and requires minimal training.
The construction industry is often seen as slow to adapt to new technologies. However, the need for innovation is clear. Field Materials is stepping into this gap, providing a solution that not only meets current demands but anticipates future needs. The startup is already processing over $360 million in material and equipment purchases annually from more than 8,000 vendors. It serves customers across 27 states and nine different construction trades.
With the fresh capital, Field Materials plans to double its team and triple its revenue in 2025. This ambitious growth strategy is not just about numbers; it’s about delivering the AI capabilities that the industry desperately needs. The construction sector is ripe for disruption, and Field Materials is poised to lead the charge.
The implications of this technology extend beyond mere efficiency. As AI continues to evolve, it promises to replace many routine tasks currently performed by humans. This shift could redefine roles within the industry, making some jobs obsolete while creating new opportunities in tech and management.
Travis Putnam, managing partner at Navitas Capital, emphasizes the transformative potential of AI in construction. He sees Field Materials as a prime example of how software can automate routine tasks, freeing up human resources for more complex challenges. This perspective highlights a broader trend: the increasing reliance on technology to enhance productivity and reduce costs.
Field Materials is not just another tech startup; it’s a beacon of change in an industry that has long resisted it. The company’s approach is not merely about automating tasks; it’s about rethinking how construction procurement can be done. By leveraging AI, Field Materials is setting a new standard for efficiency and accuracy.
As the construction industry grapples with rising costs and supply chain challenges, solutions like Field Materials become essential. The startup’s ability to process vast amounts of data quickly and accurately can help companies navigate these turbulent waters.
The future looks bright for Field Materials. With its innovative platform and a growing list of satisfied customers, the company is well-positioned to become a leader in construction procurement. The road ahead may be challenging, but the potential rewards are immense.
In conclusion, Field Materials is more than just a tech company; it’s a catalyst for change in the construction industry. By harnessing the power of AI, it is transforming procurement processes, improving efficiency, and paving the way for a more streamlined future. As the construction landscape continues to evolve, Field Materials stands ready to lead the charge, proving that innovation can indeed build a better tomorrow.