Online operations hub gets $11 million infusion to start up
The J.H. Whitney investment firm provided $11 million in new venture capital funding.
The new website is being designed to be a workplace where any member of the infrastructure construction community with an Internet connection can access tools and information needed to bid and build projects of any size, anywhere in the world.
In addition to the new website, Grantlun, a designer of estimating and project management software, is changing its name to Hard DollarÂ® Corp. This move will now match the line of products, Hard Dollar, to the corporate name and strengthen the brand name, says the company.
One area of critical concern, according to Hard Dollar, is the labor shortage problem. The company noted that the current boom in new construction has created the most severe labor shortage in the history of the U.S. construction industry, with particular shortfalls in skilled estimating, project management, and civil engineering talent.
In phase one of the multiphase plan, Hard Dollar is expanding its client advisory panels, repackaging its product lines, and building partner alliances to lay the foundation for the online operations hub that will enable contractors to bid and build infrastructure projects online.
“Hard Dollar Corp. is a successful, customer-driven organization that is poised to take the next step in market innovation with the creation of an on-line operations hub to provide tailored services to infrastructure construction professionals,” says Mike Stone, managing partner at J.H. Whitney. “The Internet is a natural next step for the market and Hard Dollar is superbly qualified to lead that effort.”
“This funding allows us to initiate plans to meet the growing demands of the 21st century infrastructure contractor,” says Grant Lungren, Hard Dollar president and ceo. “We will provide services for all functions critical to a construction firm’s success.”
For more information, call 800-637-7496 or visit the company’s website at www.grantlun.com.