BuildDirect Technologies last month announced a non-brokered private placement which was been recently upsized through the closing of a second tranche, bringing total gross proceeds for the Vancouver-based company north of $3 million.
The BC firm, which operates an online marketplace for buying and selling building materials, intends to use the net proceeds to continue to advance BuildDirect’s strategy and for general working capital purposes, according to a statement from the company.
BuildDirect also made changes to senior management and its Board of Directors.
Matthew Alexander is now Interim Chief Financial Officer. He has over 15 years of financial, strategic, and operational experience over a diverse set of industries, including SaaS, technology, financial services, and media. Alexander joined BuildDirect in 2020.
Shawn Wilson is now Chief Executive Officer of BuildDirect.
He is a seasoned home improvement executive with cross-functional experience throughout the building materials industry including e-commerce, big-box retail, and installation services. Most recently Wilson served as Vice President at Empire Today.
“Professional contractors are the lifeblood of the home improvement and commercial development industries,” said Shawn Wilson. “I’m excited to lead the BuildDirect team in its ongoing focus on the pro customer market and its efforts to continue to improve its service to professional flooring contractors.”
“We are excited to bring Shawn onboard as the CEO of BuildDirect after a rigorous search process,” stated Board Director Milan Roy. “His deep and diverse flooring experience aligns with the Company’s goals of focusing on and serving our pro contractor customer base online or offline.”