CHARLOTTE – Two long-time investors, Eldridge and JE Dunn, have led a $190 million strategic investment and bonding support round to fuel the expansion and growth of Prescient, a digital design company and advanced architectural software company that focuses in providing technology solutions for the multifamily industry.
“Prescient has demonstrated the benefits of its unique proprietary platform over the last eight years, which has provided our customers with an ideal solution to build faster and more economically,” said Magued Eldaief, CEO of Prescient in a statement issued by the company. “The support of Eldridge and JE Dunn is indicative of the strength of our technology, the progress we have made in getting market acceptance for our product, our business strategy and the significant growth opportunity ahead of us.”
Biden s first 100 days: A look back
As President Joe Biden hits the 100-day mark in office, Construction Dive takes a look at his initiatives, orders and appointments that will affect the industry for the next four years and beyond. Published April 30, 2021
President Joe Biden and his administration marked 100 days in office this week.
Since being sworn in on Jan. 20, Biden has kept busy with executive orders, appointments and meetings to help further his agenda, and many of his top initiatives directly affect the construction industry.
Below, Construction Dive rounds up its coverage on the early actions of the administration and how they will impact the industry for the next four years and beyond.
Quinn Rooney via Getty Images
The number of confirmed COVID-19 cases spiked substantially in Michigan this month, causing the state s Occupational Safety and Health Administration to extend its emergency temporary standard to Oct. 14, 2021 one year to the day since it was issued.
As of April 26, Michigan had a seven-day average of 5,423 new daily cases, the highest in the country after Florida, and an average of 68 deaths a day, the highest death rate in the country, according to data compiled by the New York Times. The combined category of construction and manufacturing ranks first in the state for most new coronavirus outbreaks, according to the state health department.
Dive Brief:
Construction vendors and subcontractors are relying on technology and offsite fabrication to help work around material shortages and other challenges brought on by the COVID-19 pandemic, according to a new market outlook from Consigli.
The Boston-based firm found that the pandemic has motivated subcontractors and vendors to implement technological advancements into their shop and field processes. Cost saving material management software, tool upgrades and robotics are improving efficiencies which is allowing subcontractors the flexibility in managing on-site workforce restrictions, says the report, which is based on a survey of the company s partners in the markets where it operates, from New England to the Mid-Atlantic.
Cedar Rapids and its surrounding communities are used to facing and overcoming challenges. Property-damaging flooding has always been an issue there. In fact, according to the city of Cedar Rapids, historic flooding and tornadoes in 2008 cost the Federal Emergency Management Agency $848 million, the agency s sixth-largest declaration ever. Total property damage was estimated at $6 billion. We feel as a community, if we can recover from the floods of 2008, we can meet any challenge, said Ron Corbett, business retention and expansion strategist at the Cedar Rapids Metro Economic Alliance. And that s the spirit that s in the in the community and obviously the business community and the citizens.