Ash Ventures, a strategic investment firm based in Atlanta, announced a $40 million minority investment in Blox, the largest manufacturer of healthcare facilities in the United States. The investment represents the first tranche of Ash’s Series B commitment; Ash expects to close its final tranche of Series B investment later this quarter.
Blox is the developer of the Design Manufacture Construct (DMC) building delivery system, a turnkey solution it says replaces traditional design and construction methods with a modernized approach that leverages manufacturing and technology to make construction simple. The Ash investment allows Blox to expand production capacity, improve collaboration tools with its customers, and more deeply integrate with its suppliers to meet the needs of its growing base of Fortune 500 clients, which include Walmart Health, HCA Healthcare, Universal Health Services and Encompass Health. Blox’s healthcare focus reflects the company’s philosophy of applying deep industry expertise to solve problems facing its customers.
The Ash team brings significant experience in the enterprise software and technology space.
“Commercial construction is an $800 billion industry in the United States and ripe for disruption,” said Andy Heyman, managing partner of Ash Ventures. “We feel the moat built by Blox represents a foundation for scalable growth and market share gains as far out as we can see.”
Heyman previously served as chief operating officer of Radiant Systems, helping lead the company through its public offering and sale, and most recently chaired the board of Tin Roof Software, an enterprise class cloud solutions provider for Fortune 500 companies.
