Toronto, ON –
Brickeye, a Toronto-based construction technology company delivering IoT monitoring and risk mitigation solutions, has announced a $10 million Series B round led by GreenSky Ventures Fund VI, Brightspark Ventures, Graphite Ventures, Export Development Canada (EDC), Beauchamp Construction, and a strategic investment from a major North American building materials supplier. (For more information, see press release here)
Construction projects can face significant financial exposure due to undetected issues such as water leaks, environmental instability, and improper concrete curing. These problems often surface too late, resulting in costly damage, schedule overruns, and insurance claims. Brickeye addresses this gap by combining IoT infrastructure, software, and automated controls to detect, document, and prevent issues before they escalate. See here for an article recently published by Engineering News-Record on Builders’ Risk Insurance and the importance of Brickeye’s solution.
To date, Brickeye has been deployed on more than 3,000 active construction sites across over 20 countries. The company reported 150% year-over-year revenue growth and was recently recognized in Deloitte’s 2025 Technology Fast 50 as one of Canada’s fastest-growing technology companies.
“Brickeye demonstrates how IoT solutions, paired with innovations like BuildersRiskIQ, can meaningfully de-risk projects and mitigate losses. We’re proud to support the company’s next stage of growth,” said Mike List, Founder and Managing Partner at GreenSky Ventures.
The new capital will support continued development of Brickeye’s IoT-enabled software and AI capabilities, expansion of engineering and field operations, and increased global commercial activity. The company is also extending its services beyond residential and commercial towers into sectors such as healthcare infrastructure and data centers, where downtime and risk exposure are especially critical.
“We’re scaling a platform that delivers measurable results for contractors, developers, and insurers. This investment accelerates our ability to help customers reduce risk and improve profitability across all stages of construction,” said Tim Angus, CEO of Brickeye.
About Brickeye:
Brickeye is a construction IoT and risk mitigation services company trusted by contractors, developers, owners, and insurers across 20+ countries. Its platform delivers real-time monitoring, automated risk controls, and actionable insights for construction stakeholders. Learn more at brickeye.com.
About GreenSky Ventures:
GreenSky Ventures is a venture capital firm that invests in early-stage Canadian technology startups. Through its six affiliated GreenSky Accelerator Funds I–VI, the firm provides capital and strategic guidance to high-growth potential companies. Learn more at greensky.vc
