Struxicon to redefine construction outsourcing.

A first-of-its-kind, fully-integrated Internet platform for the booming construction industry is being developed by a Newport Beach, Calif. startup - Struxicon. The company plans to redefine the way construction projects are outsourced and managed by unifying the three most complex, key functions - project bidding, materials and equipment procurement, and project management - in a single, easy-to-learn and use environment tailored to the needs of construction professionals. It is one of the first Internet companies to combine real-time project and supply bidding, comprehensive project management capabilities, a range of qualitative information and a centralized communication channel for the construction industry. The company announced it has closed its Series A funding round with strategic investments from industry leaders in real estate and construction as well as prestigious venture capital sources.

Heading the impressive list of investors are Comdisco Ventures and Hybrid Venture Partners, the $1.5 billion portfolio investment arm of Rosemont, Ill.-based Comdisco, Inc., the global technology services giant; Kennedy-Wilson, Inc., a Beverly Hills, Calif.-based diversified international real estate services firm, which plans to use the platform on several major projects valued at more than $100 million; and Athena Technology Ventures, a Silicon Valley-based venture capital firm that specializes in firms that leverage global communications to transform B2B. Joining them are principals and executives from leading engineering, construction and real estate firms including CB Richard Ellis, Breakstone Homes and TriStar Management.

"We were advised by one of our early investors, Garage.com, to focus on funding from value-added companies that can bring a wealth of contacts and related resources to our builder-designed product line," said Ryan Hong, chairman and co-founder of Struxicon. "For example, in addition to financial support, Kennedy-Wilson is active as a development partner and we are delighted to add its chairman and CEO, Bill McMorrow, to our board of directors.'

"We're enthusiastic about adding Struxicon to our investment portfolio of Internet solutions," said McMorrow. "We studied existing online construction services and could find none that would satisfy our clients' development needs. After extensive review, we selected Struxicon as best-of-breed and look forward to using the system this spring on several major projects."

"We are excited about the online opportunities Struxicon opens up for the construction and development industries," said Manuel A. Henriquez, managing director of Comdisco Ventures and general partner of Hybrid Venture Partners. "We think this huge business sector, which remains largely under-served by the Internet, will quickly recognize the unique value of Struxicon's new service."

Struxicon was co-founded by George Minardos, Jean-Christophe Curelop and Ryan Hong. "While construction in the U.S. is booming, the industry has no strong Internet-based resources like other areas of the real estate business,' said Hong. "Construction firms can spend upwards of 10,000 hours a year just in searching for qualified suppliers. Among its many functions, Struxicon is designed to do that automatically and connect its users to the best available background information on the firms. In addition, Struxicon provides a way to realize new revenues, providing members access to hundreds of new business opportunities in both bidding modules - for project contracts and for building materials and equipment."

The U.S. Department of Commerce reports that the total value of construction put in place last year in the U.S. was in excess of $650 billion. Minardos describes Struxicon's target market as, "the commercial, industrial, public and production residential construction sectors in the top metropolitan areas across the U.S."