Brickeye Raises $10M Series B to Expand Construction Risk Technology
Brickeye, a Toronto-based construction technology company, announced a $10 million Series B financing round to scale its IoT monitoring and risk mitigation services platform across North America and into additional international markets.
The funding round was led by GreenSky Ventures, Brightspark Ventures, Graphite Ventures, Export Development Canada (EDC), Beauchamp Construction, and one of the largest building materials suppliers in North America. The company said the new capital will support product innovation, workforce expansion, and growth into new construction sectors and regions.
Construction remains one of the world’s largest industries, yet many job sites still operate with limited digital visibility. When issues go unnoticed — such as water line failures, improper concrete curing, or environmental exposure — project impacts can escalate quickly, driving expensive repairs, lost materials, and schedule setbacks. Brickeye positions its platform as a proactive solution designed to detect and prevent these risks before they become major losses.
The company said it has deployed its technology on more than 3,000 projects across 20+ countries and is reporting 150% year-over-year revenue growth. Brickeye was also recently named to Deloitte’s 2025 Technology Fast 50 list of Canada’s fastest-growing technology companies.
$10M Series B Fuels Expansion Strategy
Brickeye highlighted how its sensors and automation controls can limit damage in real time rather than only sending alerts after a problem occurs.
On a 40-story condominium tower project in Florida, Brickeye’s sensors detected a temporary water line breach and automatically triggered a shut-off valve. The company estimated this prevented roughly 1,650 gallons of water from flooding the site.
"That would have cost us hundreds of thousands in damage and delays," said Blaik Ross, Executive Vice President at Beauchamp Construction. "The system caught it and stopped it before anyone even knew there was a problem."
This type of automatic intervention, the company said, is central to Brickeye’s approach. Instead of functioning purely as a monitoring layer, the platform integrates directly with building systems to take corrective action when thresholds are triggered. That includes shutting off water, flagging anomalies in concrete curing, and creating documentation designed to support insurance and claims processes.
BuildersRiskIQ Targets Insurance Savings and Risk Reduction
Earlier this year, Brickeye launched BuildersRiskIQ, a preconstruction dashboard intended to provide insurers with clearer visibility into how IoT controls will be deployed on specific projects.
The company said risk managers and brokers use project plans and a Certificate of Protection during insurance submissions, giving underwriters detailed insight into the scope of risk controls even before construction begins.
Brickeye reported the impact is measurable, stating that customers using its platform have reduced water loss deductibles and buy-downs by up to 50%.
"Brickeye demonstrates how IoT solutions, paired with innovations like BuildersRiskIQ, can meaningfully de-risk projects and mitigate losses," said Mike List, Founder and Managing Partner at GreenSky Ventures. "We're proud to support their next stage of growth."
Expansion Plans: AI, New Markets and New Building Types
Brickeye said the Series B capital will be used to accelerate development in IoT-enabled software and AI services, while also expanding engineering capacity, field operations teams, and sales activity.
The company also plans to broaden its geographic presence across North America while moving deeper into international markets including the Middle East, South America, and Europe.
In addition, Brickeye is expanding beyond its existing focus on high-rise and multi-family projects to serve sectors such as healthcare and data center facilities, where risk prevention, documentation, and uptime reliability are increasingly critical.
"We're scaling a platform that delivers measurable results for contractors, developers, and insurers," said Tim Angus, CEO of Brickeye. "This investment accelerates our ability to help customers reduce risk and improve profitability across all stages of construction."
About Brickeye
Brickeye is a construction IoT and risk mitigation services company used by contractors, developers, owners, and insurers across 20+ countries. The platform provides real-time monitoring, automated risk controls, and actionable insights designed to help construction stakeholders prevent costly losses and improve project outcomes.
Originally reported by Brickeye in Merced Sun Star.
.png)
