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BuildDirect Adds $5M Investment

2013-11-09
TORONTO, ONTARIO, BuildDirect has received a $5 million investment, and has raised $13 million in the last two months.
Difference Capital Financial Inc, a leading specialty financial services company, is pleased to announce a $5 million investment in BuildDirect.com, a leading online supplier of home improvement products. With this investment, BuildDirect has raised an aggregate of $13 million over the past two months.

'We are very pleased to add BuildDirect to our portfolio,' said Tom Liston, Managing Partner at Difference Capital. 'We believe BuildDirect's innovative online and logistics platforms will allow it to continue to lead and create new opportunities within the home improvement product supply chains and should prove to be a highly visible component of our portfolio.'

BuildDirect enables buyers to purchase heavy home improvement goods directly from manufacturers at prices well below existing channels. The elimination of many of the steps and costs of the legacy building material supply chain allows BuildDirect to offer prices between 30 and 80 per cent below retail while offering manufacturers sophisticated data analytics to better manage production and marketing functions. BuildDirect's proprietary logistics network allows it to deliver its heavy-weight products to consumers in a timely and cost-effective manner, in a market not well-served by traditional eCommerce organizations and major delivery firms such FedEx and UPS.

'We are very excited to have Difference Capital as a strategic funding partner,' said Jeff Booth, President and Chief Executive Officer of BuildDirect. 'Difference Capital's expertise in the technology sector, core principals, and network are essential for the growth of BuildDirect. Following closely behind a recent $8 million financing from Dynamic Funds, this latest fundraising will provide us with flexibility to execute our growth plans.'
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