Ryvit, a St. Louis-based marketplace for construction technology, completed a $3.5m seed funding round.
The round was led by Dreampact Ventures and Hermann Companies, Inc., with participation from Serra Ventures, Dragon Capital, members of the St. Louis Arch Angels, and other private investors. In conjunction with the funding, Fued Sadala, Co-Founder and Principal at Dreampact Ventures, joined Ryvit’s Board of Directors.
The company will use this funding to broaden its product offerings and expand its technical and customer-facing teams.
Led by Tom Stemm, CEO, Ryvit provides a marketplace for construction technology, enabling construction companies to integrate software without duplicate entry into their financial accounting and ERP applications.
The company has over 160 customers subscribing to their integration, data, and Application Programming Interface (API) solutions and has partnered with over 15 major ISVs such as SAP/Concur, Procore, and Newforma.