What Briq does

Briq is a private fintech company founded in 2018 and headquartered in Santa Barbara, California, that builds AI-powered financial automation software for the construction industry. Its core product, Otto, is an AI assistant designed to automate construction financial workflows including financial planning and operational tasks, targeted at general and specialty contractors managing significant construction project volume — collectively representing approximately $30 billion in construction value flowing through the platform. The company positions itself as a vertical specialist addressing financial workflow inefficiencies and profitability challenges that are underserved by horizontal fintech tools, with technology differentiation claimed through domain-specific AI automation rather than horizontal capability.

Briq operates a subscription-based SaaS revenue model sold primarily through a sales-led B2B motion targeting construction contractors. To date the company has raised approximately $54 million in venture funding across a $6M seed stage (2019), a $10M Series A (2020), a $30M Series B led by Tiger Global Management in June 2021, and an $8M extension round in January 2024 at a $150 million post-money valuation with Tiger Global, MetaProp, Blackhorn, Eniac, and Nemetschek participating. The company acquired Swipez in September 2022 to expand its financial workflow capabilities. In 2023, Briq reported 40% growth in annual recurring revenue while simultaneously implementing a 45% workforce reduction that brought headcount to 138 employees by year-end, signaling a deliberate shift toward capital efficiency. The company is also developing conversational AI capabilities for financial transactions and has stated plans to expand beyond North America into the Middle East, Asia, and non-English-speaking parts of Europe.

Name

Briq

Legal name

Briq

Website

https://briq.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

101–250 employees

Short description

Briq is a financial automation platform that uses AI (its core product Otto) to automate financial planning and workflows for construction contractors managing large-scale project volumes.

Ownership category

akta.pro rank

Product category

Construction Financial Software (ConTech / Fintech)

NAICS

Custom Computer Programming Services (541511)

SIC

Services-Computer Programming Services (7371)

akta.pro primary industry

iBPMS (Intelligent BPM Suites) & Process Automation Suites (HDAEAHAG)

akta.pro secondary industry

AI Application Enablement Platforms (Copilot/Agent Frameworks, SDKs) (HDAEANAJ)

Keywords

• Construction finance automation
• AI financial planning
• Construction workflow software
• Contractor financial management
• Vertical fintech platform

Headquarters

HQ city

Santa Barbara

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. SaaS Platform Subscription: Financial planning and workflow automation platform subscription for construction contractors

Go-to-market motion2 records

Core offering

Briq offers an AI-powered financial automation platform built specifically for the construction industry. Its core product, Otto, is an AI assistant that automates construction finance workflows including financial planning and operational processes, enabling general and specialty contractors to improve profitability and efficiency across their construction projects.

Product overview

Briq offers a unified fintech platform for the construction industry. The core product is Otto, an AI assistant designed for automating financial workflows. The platform enables contractors to manage financial planning and workflow automation, supporting approximately $30 billion in construction volume. The company is developing conversational AI capabilities for financial transactions planned for 2024.

Differentiator

Problem solved

Functional benefit

Brands

• Otto: AI for automating everything

Products and services

• Otto AI-powered assistant that automates construction finance workflows, designed to increase profitability and improve efficiency for contractors managing construction projects.
• Briq Financial Automation Platform Unified SaaS fintech platform for the construction industry that enables contractors to manage financial planning and workflow automation, supporting approximately $30 billion in construction volume across the customer base.

Quantifiable outcome

• 40% growth in annual recurring revenue in 2023
• +1 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Procore: Leading construction management platform serving general and specialty contractors with project management, financial, and field operations tools. Comparable because it is the dominant horizontal platform where Briq's vertical finance-automation capabilities must coexist or integrate.
• Sage: Sage Intacct and Sage 100 Contractor provide construction-specific accounting and financial management. Comparable because they are established financial-management suites targeting the same construction contractor buyer that Briq serves.
• Trimble Viewpoint: Construction ERP (Vista, Spectrum) within Trimble's broader construction technology portfolio. Comparable because it bundles financial planning and workflow automation for contractors at scale.
• RIB Software (Schneider Electric): Construction software (MTWO) for estimating, planning, and financial control used by contractors globally. Comparable as an established construction-finance and project-cost platform with international reach overlapping Briq's expansion markets.

Direct peers

• CMiC: ERP and financial management platform purpose-built for construction contractors, covering project accounting, payroll, and workflow automation. Directly comparable as a vertical construction-fintech platform competing for the same buyer.
• Foundation Software: Specialist provider of construction accounting, project management, and payroll software for contractors. Comparable as a dedicated construction-finance vendor competing for similar financial workflow budgets.
• Jonas Software (Jonas Construction): Construction ERP with accounting, job costing, and document management modules used by contractors. Comparable as a vertically integrated construction financial management suite in the same procurement consideration set as Briq.
• Built Technologies: Construction lending and financial management platform serving lenders and contractors withdraw management and project finance workflows. Comparable as a SaaS player automating construction financial workflows for the contractor ecosystem.
• Knowify: Project-based financial management and job-costing platform for trades and small-to-mid contractors. Comparable as a finance-focused vertical SaaS targeting the same SMB and mid-market construction contractor segment Briq serves.

Emerging players

• ALICE Technologies: AI-driven construction planning and simulation platform for general contractors. Comparable as an emerging AI-native construction tech company attacking adjacent workflow automation problems with venture-backed scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/BriqHQ
• Facebookfacebook.com/briqhq
• LinkedInlinkedin.com/company/briqhq

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds5 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Briq