Cloud Apps Capital Partners led the funding effort for Extracker, which digitizes manual workflows and creates financial transparency between construction stakeholders, with participation from construction tech platform Building Ventures and previous investor Jackson Square Ventures, which led the Extracker seed round in June 2021.
Andy Stinnes, general partner at Cloud Apps Capital Partners, and Jesse Devitte, co-founder and general partner at Building Ventures, are joining Extracker as part of their investments.
“We are finding innovative ways to better equip our customers with the tools they need,” said Cameron Page, founder and CEO of Extracker, in the company press release. “With this new round of funding, we are expanding our integrations to the industry’s most popular project management and accounting systems like Procore, CMiC and Sage, which seamlessly sync CORs and T&M Tags into all stakeholders’ systems-of-record.
Related: Bectran Launches Lien Filing and Tracking Product for Construction Industry
Last month, accounts receivable (AR) software firm Bectran debuted a new solution for the construction industry to help with lien filing and monitoring, streamlining AR work that will organize and transmit contractor job information directly to lien service providers.
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Bectran’s new product is intended to digitize the process and lower the costs of lien management for corporations, letting businesses fully automate the entire process. The standard lien filing and monitoring process is “intensely manual” and takes a lot of time, increasing the risk of errors or inconsistencies that can create setbacks and put assets at risk.
