Lumber Acquires BuilderFax to Revolutionize Construction Workforce Credential Management and Empower Skilled Craft Professionals
Strategic Acquisition Tackles $30B Labor Challenge, Strengthens Construction Workforce Amid Shortage
Lumber, the leading construction workforce management platform, today announced its acquisition of BuilderFax, a digital credential management platform for construction craft workers. This acquisition integrates BuilderFax's specialized credential wallet technology with Lumber's comprehensive suite of tools, creating an unparalleled solution to address critical workforce challenges and empower skilled craft professionals to take control of their career development.
This integration comes at a pivotal time as the U.S. construction industry faces a significant skilled labor shortage. FMI Corporation's 2023 Labor Productivity Study highlights the urgency, revealing that U.S. contractors incurred losses between $30 billion and $40 billion in 2022 alone due to labor inefficiencies. The combined power of Lumber and BuilderFax directly tackles this issue by providing construction companies with instantly verifiable workforce qualification data while offering craft workers free access to digital tools that securely store, track, and share their certifications and qualifications.
"After 45 years in construction, I founded BuilderFax to give skilled craft workers ownership of their professional achievements and credentials," said Kirk Samuelson, founder of BuilderFax and former Senior Vice President at Kiewit Corporation.
"By joining Lumber's AI-powered platform, we're creating a comprehensive solution that helps companies operate efficiently while empowering workers to build sustainable careers. This integrated approach directly addresses our industry's pressing labor challenges by improving retention and reducing turnover across the construction sector."
Shreesha Ramdas, CEO and Co-founder of Lumber, emphasized the critical timing of the acquisition. "This acquisition comes at a critical moment for America's skilled workforce," stated Ramdas. "The national shortage of electricians is threatening our infrastructure growth, and we see similar challenges across all construction trades. By combining our AI-powered platform with BuilderFax's credential management capabilities, we're not just streamlining workforce management and supporting asupporting, we're supporting a national imperative to develop, certify, and retain skilled trade workers who will literally build America's future. When credential management fails, workers lose jobs, and projects stall. Our integrated solution addresses this $12 billion problem while strengthening the career paths of craftspeople nationwide".
Key benefits of the Lumber-BuilderFax integration include:
Empowering Craft Workers
The BuilderFax application will remain free for all craft workers, enabling them to manage digital credentials that previously existed only as paper certificates or across multiple disconnected systems.
Strengthening the Labor Market
Lumber will provide construction companies with verified workforce qualification data, streamlining the hiring process and ensuring compliance. The platform will also facilitate access to a larger pool of skilled workers.
On-Site Experience Ledger
With BuilderFax, Lumber will empower construction companies to track and validate craft workers' actual on-site experience, creating a more transparent and data-driven view of workforce capabilities.
Addressing Administrative Burden
The integration eliminates siloed systems, allowing seamless connection between credential management and broader workforce operations like scheduling, time tracking, and payroll. This reduces administrative friction and enhances productivity.
Enhancing Career Development
The platform will offer a career guidance engine with personalized pathways, union job boards, and a resume builder. By leveraging credential data alongside employment information, the system will provide unprecedented visibility into career pathways and advancement opportunities.
Strategic Partnerships
Lumber announced new partnerships with trade schools nationwide to create pathways for students to secure quality employment opportunities. The app can be pre-installed on tablets distributed by vocational schools.
Lumber's acquisition of BuilderFax creates a powerful integrated solution that addresses the construction industry's $30-40 billion labor inefficiency problem while empowering craft workers to manage their credentials digitally. This strategic move positions Lumber to tackle the national skilled labor shortage crisis while streamlining workforce management and enhancing career development opportunities across the construction sector.
