Great partnerships accelerate what can be done. The recent announcement from Cemex demonstrates how the partnership between Cemex and StructShare will further streamline the construction supply ecosystem.
Cemex’s partnership with StructShare will improve intelligent building materials management, communication, and the flow of data in a scalable solution that saves time, reduces human errors, and manages project costs.
Cemex Ventures, Cemex’s open innovation and Corporate Venture Capital unit, announced this week its investment in StructShare. This blog is a summary of two announcements Cemex published this week. Read the full release and their interest in StructShare directly on CemexVentures at the links below.
Procurement in construction is a key process for profitability, but its management is very complex. This venture seeks to optimize and complete the materials procurement area within the construction value chain and illustrates Cemex’s continued commitment to make the purchase of building materials more agile and intuitive.
“With more than a century in the building materials industry, we aim to understand the evolving pain points of our clients in order to provide point solutions in the buyer’s journey,” said Gonzalo Galindo, Head of Cemex Ventures. “Cemex was the first company in the industry to offer a global end-to-end digital solution with CemexGo, and through this latest collaboration with StructShare we intend to provide our customers with a more advanced and unified buying experience.”
"StructShare is the only procurement digitalization company for all trades and materials with positive traction and growth."
Cemex prioritizes solutions that contribute to its Digital Innovation in Motion ecosystem designed to achieve a superior customer experience through optimization in the areas of production, management, and commercial operations. Through this investment in StructShare, Cemex attempts to further digitize the industry while prioritizing support of new technologies that improve the timeliness and efficiency of different activities within the construction supply chain.
“We are excited for this significant vote of confidence in StructShare's position in the market. The partnership with Cemex is an important step towards establishing our value proposition for suppliers,” added Arik Davidi, Co-Founder of StructShare.
The latest gamechanger
In the last 20 years, the world has witnessed the proliferation of different software seeking to improve the management and efficiency of the construction industry’s supply chains. The latest gamechanger at the forefront of our industry is StructShare, whose procurement SaaS makes materials management more intelligent, communication frictionless, and data access seamless for a more connected supply chain.
“Cemex is a great partner as it’s one of the most forward-thinking suppliers in the industry. We are looking forward to expanding our collaboration to fulfill our vision for the construction procurement space,” said Or Lakritz, Co-Founder of StructShare.
Why is Cemex Ventures investing in StructShare?
Cemex Ventures takes a global and exhaustive view of all the up-and-coming startups improving the different stages within the construction supply chain, one of its four market-driven opportunity areas. Within the complex supply chain ecosystem, they break down different solutions according to Cemex’s key stakeholders: builders, suppliers, logistics providers, and other users (owners, designers, traders, etc.). With general contractor and specialty contractor stakeholders, Cemex has identified the potential for progress within the area of digital procurement, which StructShare is solving.
Put simply: Cemex is partnering with StructShare to improve intelligent building materials management, communication, and the flow of data with their scalable solution that saves time and costs, improves productivity, reduces human errors, and manages project costs. This is because StructShare helps builders manage the procurement process for all materials, from the BOM (bill of materials) to payment.
What is this investment about?
Cemex’s customers are always at the core. The aim is to connect the most valuable technologies with Cemex’s core business and customers in order to fulfill the Cemex promise of fostering the construction industry revolution. This investment is about providing a superior customer experience enabled by digital technologies to contractors and suppliers operating in the construction value chain.
How will StructShare and Cemex help each other achieve their objectives?
This partnership seeks to help StructShare to expand its geographical scope with Cemex’s advanced R&D departments and global presence and network, as well as through Cemex Ventures’ proven growth strategies and team of specialized investors. Most importantly, Cemex will help us carry out our vision to become a construction materials operating system with advanced data and supplier integration.
By prioritizing digital solutions, Cemex is also contributing to its sustainability strategies. Digitalization facilitates a better organization of supply chains, the transition to a paperless industry, and an increase overall in efficiency.
Why StructShare and not another “material procurement solution”
You may be wondering what makes StructShare different from its competitors…
The answer from Cemex: StructShare is the only procurement digitalization company for all trades and materials with positive traction and growth. While there are other advanced procurement solutions currently on the market, they’re only focused on one type of material. The StructShare team possesses an extensive background in construction and the Contech SaaS space.
About CEMEX Ventures
Launched in 2017, CEMEX Ventures focuses on helping overcome the main challenges and
capitalizing on the opportunity areas in the construction ecosystem through sustainable solutions. CEMEX Ventures has developed an open collaborative platform to lead the revolution of the construction industry, engaging startups, entrepreneurs, universities, and other stakeholders to tackle the challenges in the construction environment and shape the industry’s future. For more information on CEMEX Ventures, please visit: www.cemexventures.com