Riskcast Solutions, a Newark, N.J.-based tech startup aimed at increasing productivity and eliminating outdated paper-based processes for the construction industry, closed its $600k pre-seed funding round.
The round was led by Newark Venture Partners, with participation from Scopus Ventures.
The funds will be used for sales, marketing and to augment development, as well as to support the growing team.
Co-Founded by Reggie Arichabala and Alec Thomson, Riskcast Solutions provides a platform for users to enter all of their daily information including, man hours, production quantities, notes, daily logs, delivery tickets, etc. Job-site leadership is able to track costs, productivity, and trends, while identifying wins and areas in need of improvement on an ongoing and immediate basis.
The company has multiple customers and several enterprise level partnerships, including E-J Electric.
The team recently completed NVP Labs, the Newark Venture Partners accelerator program, and subsequently designated their Newark, NJ space their office headquarters.