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San Francisco-based Miter has raised $40 million in Series B funding to expand its AI-powered construction workforce platform, with plans to develop tools for back offices and jobsites and grow its engineering teams in San Francisco and New York.
Battery Ventures led the round, with existing investors Bessemer Venture Partners and Coatue also participating. The funding brings Miter’s total raised to $78 million since CEO Connor Watumull and Tobin Paxton founded the company in 2021.
Miter says roughly two of every 100 American construction workers now receive their pay through its platform. Contractors use the system to manage their workforce, field operations, job costing and expenses.
"The U.S. has never needed this much new infrastructure this fast. We need to unleash the potential of electricians, welders, carpenters and ironworkers everywhere", said Watumull, who previously has been a consultant with Bain & Co. and a venture capitalist for Bessemer Venture Partners. "Miter is helping contractors modernize their operations and unify their workforce, jobsites and financials in one system."
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The company claims it has embedded "deep AI" capabilities throughout its platform. Its back-office tools extract and organize information from invoices, receipts and pay rate tables, handle complex workflows previously performed manually, and identify labor and job cost trends.
For workers in the field, Miter says its AI generates safety reports using photos or voice notes and summarizes job status. The company is developing additional products covering safety, accounts payable and project intelligence to "keep up with demand."
Battery Ventures general partner Michael Brown described construction as "tremendously complex", noting that technology providers face challenges in creating tools suited to customers’ specific needs. He said Miter had developed an easy-to-use, integrated product that handles payroll and other mission-critical business functions.
Miter’s customers include design-build firm Clayco and Haugland Group, a family-owned infrastructure services organization with more than 1,600 employees. The new capital will support further development of the company’s AI products alongside the expansion of its engineering teams.
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