Powerplay raises new round led by Accel

In the most recent investment round headed by Accel, Powerplay, a construction management firm, has raised $7.14 million (around 56 crore).

Iesh Dixit and Shubham Goyal founded Powerplay in 2019 to streamline site-to-office communication for the management of construction and architectural projects. It makes it possible for construction companies to manage their budgets, track issues, control attendance, manage materials, and track bills.

500K people have downloaded Sensor Tower’s app, and Powerplay claims to have assisted 500 construction enterprises in the last three years.

After this financing, Accel held the largest investment (19% of the share capital), followed by IQ Alpha and Surge, who each held 16.84% and 13%. Iesh Dixit and Shubham Goyal, the co-founders, combined lost 41.1% of the company.

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