MONTERREY, MEXICO AND MADRID, SPAIN. MARCH 21, 2023 – Cemex Ventures, Cemex’s open innovation and Corporate Venture Capital unit, announced today its investment in the advanced digital procurement software company StructShare.
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’s procurement software streamlines the purchasing and inventory of materials for different trades by connecting field, procurement and accounting teams. Cemex is partnering with StructShare to improve intelligent building materials management, communication, and the flow of data with their scalable solution that saves time, reduces human errors, and manages project costs. Currently operating in the U.S. with the intention to scale geographically, StructShare is already integrated with popular software solutions.
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, it 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.
StructShare has a mission to help the people and businesses who are building the world thrive through efficient procurement and materials management. The company offers an end-to-end procurement solution purposely built for specialty contractors which connects the field, office, and supplier in a single platform that streamlines operations, prevents errors, and provides full control of spend and inventory. Today, the company employs 23 team members across its headquarters in Austin, Texas, and its R&D center in Tel Aviv, Israel. For more information, please visit http://www.structshare.com/
About Cemex Ventures
Launched in 2017, Cemex Ventures focuses on helping to solve the main challenges and capitalize on the opportunity areas in the construction ecosystem through sustainable solutions. Cemex Ventures has created an open and collaborative platform to lead the revolution of the construction industry by engaging startups, entrepreneurs, universities, and other relevant actors to tackle the industry’s toughest challenges and shape tomorrow’s value ecosystem. For more information about Cemex Ventures, please visit www.cemexventures.com