Built is an AI-powered financial operations platform for the real estate and construction industries. By connecting capital providers, owners & developers, and builders, Built automates workflows, accelerates the flow of money and information, and unlocks insights for smarter decisions. Hundreds of top financial institutions and thousands of owners and builders trust Built to manage hundreds of billions in real estate and construction activity—so you spend less time on process and more time on progress. Learn more at getbuilt.com.
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New housing supply only pays off if the money behind it moves. Josh Chittick will talk about that at Bisnow's New York Multifamily event on Oct 7. 👇
I'm looking forward to speaking on the panel "Development Strategies to Increase Construction Pipeline" at Bisnow's New York Multifamily Operations & Development conference next week. To join me, register here with code JOINME: https://lnkd.in/gRQxAUwf
71% of Americans say they don’t want an AI data center nearby. For construction lenders, that matters because public sentiment can turn into zoning changes, approval delays and new risks surprisingly quickly. Loudoun County, Virginia is a good example. In just 16 months, the environment moved from case-by-case review to discussion of a broader development pause. We pulled together a few things lenders should be paying attention to as the market keeps evolving, along with how Built can help surface those risks earlier. Full blog in the comments.
Working with the Built team has been a blast – they were an early adopter of the Financial Data Platform, and they had a vision of running a more data-centric accounting organization with our help. Since using the FDP, they’ve been able to free up a ton of their team’s bandwidth from being in the weeds on stuff like billing & revenue. In turn, they’re actually analyzing problems for the business and stepping to the table as a team to be strategic partners to the business. I love what Asia McKnight, CPA and Controller at Built, had to say on the change: “We're almost operating in a different century, it feels like, from a data perspective.” We wouldn’t be here today without the trust and feedback from the team at Built. I’m so thankful for their continued partnership and desire to move the profession forward.
Thank you, Jeffrey Reitman, for laying out how we designed the workflow behind our AI Draw Agent. Your team, your policy, your pace. That's how we built it, and it's why lenders trust it.
AI is being adopted fastest where it didn't ask the interface to change. Code was already written in a text box, so codegen broke out first. Support was already a phone call, so AI voice took the call center. Outsourced work was already a black box, so agents are quietly replacing BPO. Everywhere else, the people who own the workflow don't want to run it through a text box, a phone call, or a black box. That's the procurement queue most AI startups are living in right now. The companies getting through aren't the ones standing up a chat interface. I wrote about what the winners are doing differently, including how Arjun at Titan and Chase at Built are leading the way, building trust into the interface in two of the hardest industries there are. Full essay below.
Developers and lenders do not always get the chance to talk openly about where construction finance gets difficult. This Bisnow panel did. Built’s Erik Koentje joined Derek H. of Flaherty & Collins Properties, Mike Murphy, CFA of Davis and Patrick Dempsey of Walker & Dunlop to talk about what is changing across the market. A few things stood out: ➡️ Good draw processes matter. When information is incomplete or spread across emails and spreadsheets, funding slows down. ➡️ Strong lender-developer relationships come down to transparency, communication and keeping both sides aligned. ➡️ AI is already helping teams process information faster, but it is not replacing experience or relationships. And after a challenging few years, there was real optimism around the capital available for well-structured deals. If you work in construction finance, the full conversation is worth a listen. Watch the replay: https://lnkd.in/gmDtjdgA
Built reposted this
There’s something about being together in the same room that just can’t be replaced. The ideas are sharper, the conversations go deeper, and the connections are stronger. Grateful for the time with the team and excited about what we’re building together. Built #nashville
The most meaningful AI wins are often the operational problems that have been sitting on a backlog for too long. Great example from Zachary Bowden of what speed looks like in practice. 👇
Two hours. That's how long it took to solve what would have been a quarter-long roadmap request. We were rolling out a new product when a client raised an unforeseen blocker. They needed near real-time invoices on every order. It wasn’t on the product roadmap, and going through our standard process would take weeks, if not months. Then a few of us put our heads together, started working in Claude and built an automated daily invoice-creation skill in about two hours. Done. It was running in production the next day. That's the part about AI adoption that doesn't get enough attention. It's not just the big platform features. It's the small, painful, operational tasks that nobody has time to fix. The ones that sit on a backlog for quarters because they're not strategic enough to prioritize. AI gives ops teams the ability to solve their own problems without waiting for a product cycle. That changes everything about how fast you can improve. Read more here: https://lnkd.in/dCCd5JtU
AI has real potential to lower construction costs and shorten project timelines by helping teams solve the everyday issues that slow work down. Chris DeVito, Built’s GM of Owners and General Contractors, shares how faster access to funds can help keep a project moving. For example, projects on Built are 55% more likely to finish on time. Read Chris’ take and the full CoStar News piece below.
A new study from Suffolk and MIT says AI could cut construction costs by up to 20% and shorten build times by 25%. This comes as no surprise to us here at @ Built. We’ve been helping construction teams keep projects moving and access funds faster for more than a decade. Our streamlined draw process helps developers get the money they need to keep work moving, rather than letting approvals and paperwork hold up the job. Today, projects on Built are 55% more likely to finish on time, which can make all the difference in profitability. Link to the article from CoStar News in the comments.
Your LOS stops working the day you need it most. It gets the loan funded. Then the first draw request lands and the team is back in spreadsheets and email. Draws that should take hours take up to 15 days. Built fixes that without replacing anything. Draws, inspections, waivers, and audit trail, connected to the systems you already run. 14 of the top 25 U.S. lenders use it. Full article in comments 👇
Ask a lender to take on a new platform, and the first objection is rarely about the platform. It’s usually, “Our IT team doesn’t have time for that.” That’s fair. Enterprise rollouts can take six months to a year, often requiring more time from the client’s team than they can realistically spare. Before anyone downstream sees value, the lender is already building a business case for the implementation itself. Dryden Neilson, our Director of Implementations, wrote about what separates a 60-day rollout from one that drags on indefinitely. Her point is simple: if a phase doesn’t have a go-live date, it isn’t really a phase. https://lnkd.in/eFb-gK4d