WakeCap, an IoT platform for construction project management, announced the acquisition of Crews by Core, an AI-powered project delivery platform for the construction industry. The acquisition will create the world’s most comprehensive SAAS and IoT solution for construction mega projects. Through the transaction, WakeCap will open an R&D headquarters in Silicon Valley to solidify its position as a global construction tech leader.
One platform for construction operations
WakeCap solutions are used by job sites employing tens of thousands of workers, with over 70 million worker hours completed. WakeCap has established a high level of trust and integrity with its customers, and as a result is delivering several solutions needed on site. Alongside WakeCap’s existing lineup of connected worker, time and progress measurement, and safety incident prevention and management, the merged company will provide owners and contractors the most comprehensive suite of tools available to date. Crews by Core’s AI-powered project delivery platform gives WakeCap the ability to offer customers immediate ways to quantify and mitigate jobsite inefficiencies. WakeCap’s IoT network for people, equipment, and vehicles provides rich automated data on the jobsite, saving thousands of hours and 20% of labor costs or more in addition to keeping workers safer. Now they will add lookahead scheduling, communication, and financial risk assessment and mitigation.
Construction’s opportunity: more efficient processes with unified solutions
The global construction industry is valued at more than $12 trillion and employs 200 million people globally, yet notoriously relies on offline and inefficient processes. Miscommunication, poor collaboration, and worker shortages lead to crews wasting hours per week on non-productive tasks. This is a longstanding industry-wide problem that WakeCap has been tackling with their IoT platform, as has Crews by Core with their AI-powered project delivery platform.
“Hassan has built a rocketship. It’s rare to see so much traction in construction tech, let alone any tech startup, and we’re excited to accelerate our mission with this partnership,” stated Di-Ann Eisnor, CEO and founder of Crews by Core. “Saudi Arabia has some of the largest projects anywhere in the world and it’s the perfect place to deploy our project delivery platform.”
“Di-Ann’s team has incredible knowledge and deep technical skill. We’re thrilled to bring the two companies together,” explained Dr. Hassan Albalawi, CEO and Founder of WakeCap. “Their team is world class and has built some of the most important companies in Silicon Valley including Paypal, Waze, Google Chrome, and Palantir. They know how to scale technology platforms.”
The two companies’ technologies are already deployed across large sites and megaprojects in the United States, Saudi Arabia, UAE, and Japan, managing tens of thousands of workers performing millions of hours of labor each year. Customers include Saudi Aramco, Jeddah Central Development Co., Kajima, Takenaka, and Apex Building Group. The acquisition price is not being disclosed.
To learn more about WakeCap, please visit: https://www.wakecap.com/
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