20 December 2019:
Levelset has raised $30 million in fresh round of funding. The funding round was led by Horizons Ventures. S3 Ventures, Altos Ventures, Operating Venture Capital, and Darren Bechtel also participated in the funding round.
The company will use the fresh capital to to continue developing products that resolve payment and cash flow headaches for contractors, and to fuel its continued growth.
Scott Wolfe, CEO, Levelset, said, “The effort required to get paid and the cash stress put on contractors is unbelievable. The world’s biggest industry is full of small and medium businesses that are the fabric of our economy. It’s crucial that they can do their work without worrying about cash.”
Scott Wolfe added, “Our customers want to spend their time getting new work and doing a great job, not chasing down payment and wrangling paperwork. We have the payment help they need, and our main focus is to continue delivering on that promise to our customers.”
Bart Swanson from Horizons Ventures, said, “Levelset is solving an acute and important pain experienced by millions of contractors, and by doing so, has built an interesting and unique dataset about construction payment behaviors. This gives more value to users, delivers more growth and, ultimately, empowers contractors to eliminate cash gaps and take on more work.”
Darren Bechtel, said, “Since day one, Levelset focused on the trade contractors, suppliers, and small businesses often overlooked in the construction technology race. These businesses are right in the thick of all the payment pains and cash strains that cost the industry big.”
Darren Bechtel, added, “Through these touchpoints, Levelset is now digitizing information, monitoring behaviors, and exchanging documents with every major contractor and on every major job in the United States.”
(Image – Levelset)