Online building sector forced to reconstruct

The latest business-to-business operation to collapse in the construction industry is iScraper Inc. Last month the financial backers behind the Israeli-based company – which built portals that allowed construction companies to organise building projects online – decided to demolish the site in the latest blow to the b-to-b sector.

IScraper was founded in 1998 and had offices in Tel Aviv, London, Frankfurt, Madrid, New York and San Francisco. Sources told The Industry Standard Europe that its financial backers, Apax Partners & Co., Israel Seed Partners and Softbank Corp., decided to pull the plug because they no longer believed in the business model.

Last year, start-up companies promising to deliver cost savings and increased efficiency to the construction industry were springing up all over Europe, looking to capture a slice of the