Licify is a technology company.
Licify has raised $3.0M across 1 funding round.
Key people at Licify.
Licify has raised $3.0M in total across 1 funding round.
Key people at Licify.
Licify has raised $3.0M in total across 1 funding round.
Licify's investors include Accion Venture Lab, Brand Foundry Ventures, Brick & Mortar Ventures, City Light Capital, Great Oaks Venture Capital, Looking Glass Capital, NextGen Venture Partners, Rebel Fund.
Licify is a technology company building a digital platform that streamlines buyer-supplier interactions in the construction and real estate sectors across Latin America.[1][2][3] It connects builders, developers, contractors, and property operators with over 10,500 certified suppliers, digitizing quotation, purchase, qualification, bidding, and payment processes while providing working capital to accelerate projects and cut costs.[1][3][5] Primarily serving the construction industry in Colombia, Licify tackles supply chain inefficiencies in one of the least digitized sectors, boasting over 16,000 registered small contractors generating 2,500+ bids monthly and reported revenue of $24.7 million.[4][5] Founded in 2017 at the seed stage with $3.57 million raised, the company shows strong growth momentum, including expansion plans into Mexico, Peru, and Chile.[1][5]
Licify was founded in 2017 in Bogotá, Colombia, by a team targeting the construction industry's outdated manual processes, which hinder procurement of over $250 billion in annual services from small contractors.[1][4][5] Emerging from the need to modernize bidding, payments, and supplier matching in Latin America's undigitized construction sector, the startup quickly gained traction with a seed round of $3.5 million led by Brick and Mortar Ventures and Acción Venture Lab.[1][5] Early milestones include building a network of over 10,000 users in Colombia and registering 16,000+ small contractors, setting the stage for regional scaling amid rapid adoption by builders seeking data-driven efficiencies.[3][5]
Licify stands out in the proptech and construction tech space through these key strengths:
Competitors like Easefix (home repairs) and Pantera Global Technology (bid management) lack Licify's emphasis on Latin American construction procurement and integrated financing.[1]
Licify rides the proptech wave digitizing construction—one of the world's largest yet least tech-adopted industries—by addressing manual procurement bottlenecks that stifle small contractors powering $250B+ in annual services.[5] Timing is ideal amid Latin America's infrastructure boom, urbanization, and post-pandemic supply chain pressures, where digital platforms can unlock efficiencies and financial inclusion for SMEs.[2][3][5] Market forces like rising material costs and project delays favor Licify's transparent, data-rich model, positioning it as the #1 construction startup in the region per Proptech Scout rankings.[3] It influences the ecosystem by fostering innovation, enabling more projects through faster payments/loans, and paving the way for a full construction tech stack potentially integrating AI and other startups.[5][6]
Licify is primed to dominate Latin American construction procurement, leveraging its entrenched Colombian base to capture Mexico next, followed by Peru and Chile, while enhancing AI tools and lending services.[1][5][6] Trends like AI-driven matching, embedded finance, and regional infrastructure spending will propel growth, potentially scaling revenue beyond $24.7 million as it builds a comprehensive ecosystem.[4][6] Its influence could evolve from marketplace pioneer to indispensable platform, empowering small contractors and transforming productivity—echoing its mission to streamline the interactions that build the built world.[2][5]
Licify has raised $3.0M across 1 funding round. Most recently, it raised $3.0M Seed in July 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jul 1, 2023 | $3.0M Seed | Accion Venture Lab, Brand Foundry Ventures, Brick & Mortar Ventures, City Light Capital, Great Oaks Venture Capital, Looking Glass Capital, NextGen Venture Partners, Rebel Fund |
