The 2020 Mid-Year Economic Update_long

Ferguson Launches Ferguson Ventures

Distributor creates corporate venture capital and strategic partnering arm to address industry challenges.

Ferguson, Newport News, VA, has launched Ferguson Ventures, a corporate venture capital and strategic partnering arm focused on innovation and disruption.

Ferguson said it created the venture to address challenges its customers are facing in today’s marketplace, including a shortage of skilled trade professionals and the need for construction productivity. The venture supports three key endeavors:

  • Connected Ecosystems–seeking opportunities to replace, enable or create processes that will streamline and strengthen value chains across the industry.

  • Digital Experiences–creating a best-in-class customer experience with industry-leading content.

  • Emerging Technology–exploring and leveraging technologies to enhance customer and associate experiences through augmented/virtual reality, Internet of Things (IoT), artificial intelligence and machine learning.

In addition to the investment fund, Ferguson Ventures also created an innovation lab, which will explore “industry-changing innovations and oversee pilot programs designed to help Ferguson customers across the country,” the company said.

 

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