Albiware Inc. (Albi), a Y Combinator-backed0startup, recently closed its $2.5 million seed round of institutional capital led by Takeoff Capital. Other investors include Y Combinator, Palm Drive, and Soma Capital.
“We strive to be innovators in restoration. This type of investment means Takeoff Capital and other VCs also share our vision by enabling the restoration industry to move forward from the archaic solutions of yesterday,” said Alex Duta, Albiware’s Founder and CEO. He also added, “We’re excited about utilizing this capital to double down on our product focus and continue building the best software in the industry. “
This partnership was a clear objective in helping elevate Albi’s mission especially since Willy and Jabbok Schlacks, the general partners at Takeoff, also founded Equipment-Share, the biggest construction tech unicorn founded in the last decade within the construction industry.
“It’s rare to come across a hungry, customer-centric team like Albiware in a hidden yet massive industry. The founding team understands restoration contractors because they have been one themselves. Albiware’s customers feel this instinctively,” says Willy Schlacks, the general partner at Takeoff Capital, an early-stage VC firm specifically focused on construction technology. He added, “Albiware’s ability to care deeply about customers’ feedback makes them feel like they are partners in advancing the industry together.”
Albi has grown exponentially since its start back in March of 2020, during the start of the pandemic. Since then, the industry’s top restoration contractors have been adopting Albi including Australian giant Cowan Group, BOR franchisor, True North franchisor, and many more.