Raken, a San Diego, CA-based daily reporting app and field management solution for the construction industry, raised $10m in Series A funding.
The round was led by U.S. Venture Partners (USVP), with participation from new investor Tao Capital Partners, and existing investors Eniac Ventures, Rincon Venture Partners and Spider Capital.
The company intends to use the funds to finance expansion of the existing product line for its customer base, while developing additional construction field management workflows.
Led by Kyle Slager, CEO and founder, and Sergey Sundukovskiy, CTO/CPO and co-founder, Raken provides a software platform that streamlines construction workflow processes such as daily reporting, time tracking and safety management. Raken’s “digital toolbox”, which includes an iOS and Android app, connects the field to the office with daily reports, time cards, task management, project insights, photo management, and more.
The company has more than 3,000 clients from all 50 states and 89 countries.