zlien, a New Orleans, LA-based provider of a construction technology platform, raises $5m in equity funding.
The round was led by Altos Ventures with participation from Knollwood Investment Advisory, Operating Venture Capital, and Cajun Kiwi Investments. In conjunction with the funding, Altos Ventures’ Managing Director, Ho Nam, joined the zlien board of directors.
The company intends to use the funds to expand its sales and marketing teams, to continue building its software and innovating around the complex construction payment process.
Led by founder and CEO Scott Wolfe, Jr., zlien provides a cloud based platform that allows users to manage mechanics lien rights, which are integral to every project and payment processed in the industry. The company’s application brings together all project stakeholders, from contractors and suppliers to developers and lenders, to exchange lien waivers, construction notices, and information.
Users include thyssenkrupp Elevator Americas, Blueline Rentals, Graybar Electric, TruTeam, USG Corporation, Belfor USA, and other Fortune 500 companies in the construction industry.