Siteline, a San Francisco, CA-based billing solution for commercial trade contractors, raised $15m in Series A funding.
The round was led by Menlo Ventures with participation from existing investors. Tyler Sosin, Partner at Menlo Ventures, will join Siteline’s Board of Directors. The round follows a previously unannounced $3.4m seed round led by First Round Capital and Brick & Mortar Ventures, with participation from Designer Fund, South Park Commons Fund, and a number of top angels. Dustin DeVan, founder of BuildingConnected, will become a company advisor.
The company, which has raised a total of $18.4m to date, will use the new funding to expand its sales, marketing, recruiting, engineering, and product teams.
Led by Gloria Lin, Co-Founder and CEO, Siteline is a financial platform built specifically for trade contractors from the ground up. Trade contractors can easily compile accurate payment applications, manage compliance documents, and monitor payment status on one customizable platform. Customers get paid faster, accelerate internal billing processes by up to 6X, and improve collaboration across project and finance teams.
Today, Siteline processes more than $180 million in annualized billing for its customers, including projects ranging from office campuses and schools to major airport terminals and hospital wings. It currently supports hundreds of projects across the US.
FinSMEs
25/02/2022