Silverton Leads Round with Amex Ventures, Fifth Growth Fund & SVB
GRAPEVINE, Texas, Dec. 16, 2024 (GLOBE NEWSWIRE) — BILT Incorporated, the leader in 3D Intelligent Instructions, has closed a $21 million funding round, led by Austin-based Silverton Partners with participation from Amex Ventures, Fifth Growth Fund, and Silicon Valley Bank. The funding will be used to expand operations as demand for 3D interactive and extended reality (XR) immersive instructions increases.
BILT is the leading platform for 3D-guided work instructions, serving consumer, commercial, and government customers. For consumer brands like Weber and Whalen, BILT enables a better customer experience and increases consumer satisfaction. For commercial businesses like Siemens and Clearfield, BILT accelerates training, improves productivity, and reduces errors. For government clients, BILT enhances accessibility, speeds initial knowledge acquisition, and increases readiness. Today, BILT features more than ten thousand SKUs from almost 300 brands, delivering instructions to more than ten million users in 12 languages.
Video: https://youtu.be/U2vnkuIE4ro
The funding will allow BILT to expand growth into additional categories and industries. “By transforming a traditional pain point into an empowering experience, we create promoters of the brands we serve,” said BILT Chairman & CEO Nate Henderson. “Whether it’s a consumer assembling a product, a professional technician improving efficiency, or a military maintainer cross-skilling, BILT delivers clarity, precision, and confidence.”
Silverton Partners, an early-stage firm investing in consumer, healthcare, enterprise, and fintech companies sees BILT as a catalyst in increasing brand loyalty, profitability, and performance.
“Organizations can impact both their top and bottom lines by enhancing the end-user experience,” said Silverton Managing Partner Morgan Flager. “By simplifying complex tasks, BILT bolsters setup success and improves product ratings and reviews while reducing returns and calls to support.”
For new investor Amex Ventures, this round provided an opportunity to invest in an innovative platform that can potentially unlock new commerce opportunities.
“New places for commerce have historically emerged from content platforms with scale. BILT presents opportunities for its customers to surface relevant products across multiple customer touchpoints, driving discovery of new parts and accessories among both individuals who assemble products professionally and everyday consumers who do so for personal use,” said Amex Ventures Managing Director Margaret Lim. “We are excited to play a role in fueling BILT’s growth through our investment and the referral partnership we facilitated with our Global Merchant and Network Services business.”
In 2023, BILT teamed up with American Express to offer eligible merchants a discount on production costs for 3D interactive instructions. You can learn more about BILT’s offer for American Express merchants by clicking here.
About BILT:
Millions of users follow 3D Intelligent Instructions for thousands of products from hundreds of brands. BILT revolutionizes professional training, operational enablement, and the customer experience for assembly, installation, maintenance, and repair. The award-winning platform delivers turnkey interactive instructions on iOS, Android, Windows, and immersive spatial computing instructions on Apple Vision Pro. BILT is accessible, sustainable, and efficient. For more information visit BILTapp.com.
Contact:
Juliette Qureshi
VP, PR & Media Comms
[email protected]
703-554-3020
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e330498f-7c11-4076-8268-4207284ee8fb
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0811d6d0-700f-44ef-85a1-34c501186b2f
