One of the solutions the company has launched is an early pay program called Predictable Pay that gives subcontractors access to faster, more predictable pay, the company said in a Wednesday (Nov. 5) press release.
Billd founder and CEO Chris Doyle said in the release that with products like Predictable Pay, the company aims to solve one of the biggest threats to subcontractors’ businesses: cash flow instability.
“Early pay programs are one way subcontractors can bring more predictability to their payments and create a more resilient business,” Doyle said. “This investment helps support our long-term goal of developing financial solutions that empower subcontractors to do the best work of their lives.”
Andy Newcomb, managing partner at MissionOG, which led the round, said Billd is driving “innovation in construction finance.”
“We continue to be impressed with Billd’s ability to create scalable, practical solutions that have meaningful impact on the construction industry,” Newcomb said.
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When Billd announced Predictable Pay in September, the company said this early pay program was developed in collaboration with general contractors.
In addition to providing subcontractors with faster, more predictable payments, the program is designed to offer general contractors strong project performance, reduced risk and a competitive advantage.
Doyle told PYMNTS in September 2021 that 46% of contractors struggle to make ends meet because of lumpy cash flow. Most contractors working in commercial construction projects pay for materials long before receiving payment for their work, he said.
“This has always been a dysfunctional part of construction that the subcontractor takes the brunt of,” Doyle said.
Billd’s latest funding round came about a year after an October 2024 one in which it raised $17.5 million. The company said at the time that it aimed to enhance its product suite and refine its direction to remain at the forefront of solving subcontractor pain points.
In December 2024, the company partnered with Atlas SP Partners on a $144 million financing facility to meet increased demand from subcontractors for financial solutions.
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