The total output value of China's construction industry was estimated to exceed CNY 30 trillion in 2022 and Jigongjia App takes advantage of this trend.
Jigongjia App, a comprehensive service platform for construction services, recently announced a Series B financing of more than CNY 100 million, jointly led by GL Ventures and Sequoia China, with Yuanhe Capital serving as the exclusive financial adviser. Previously, Jigongjia App has received investment from Huatu Capital, Grandsoft company Innoangel Fund and many other well-known institutions. This round of funds will be mainly used to improve product quality, attract talent, and promote market operation.
According to the National Bureau of Statistics data, the total output value of China's construction industry was estimated to exceed CNY 30 trillion in 2022. Thanks to the accelerated process of building digitization, the per capita labor productivity increased significantly. According to the statistics of Tianyancha, 1,046 companies in the construction industry participated in financing in 2021, and 232 companies with an amount of more than CNY 10 million. Most of these companies are distributed in production and manufacturing, engineering SaaS, software and hardware services, decoration and asset management and other fields. The popularity of digital transformation can be seen from the capital market.
Jigongjia's target customer base is nearly 4 million small, medium-sized, and micro construction companies at the To-B-end. They have a strong desire for digital transformation, are more likely to accept standardized product models, and have a vast market space. At present, hundreds of companies have chosen to use the Jigongjia App management system, and some of them also pay workers' wages through a labor payment system. Secondly, the same is true for forepersons and workers at the To-C-end. Workers can find jobs directly on the Jigongjia App.