Dive Brief:
- Construction lien rights management startup zlien has announced a $1.3M funding round, led by Brick & Mortar Ventures, for its cloud-based filing, notice and exchange platform.
- The company also launched its new tool, Waiver Exchange, which allows multiple parties to collaborate in the creation, signing and exchange of lien waivers.
- zlien also allows users to file mechanics liens and send notices of intent to lien to customers who are behind in payment.
Dive Insight:
zlien joins the ranks of other construction tech startups that have managed to streamline industry processes and nab millions of investor dollars along the way.
Procore has evolved perhaps into one of the most financially successful construction startups after receiving a $50 million investment within the last several months, putting it on par with its largest competitor, Textura. In fact, in January, Bessemer Venture Partners valued Procore at $500 million, closing in on Textura’s market capitalization of $589 million.
Another construction startup, PlanGrid, raised $40 million last November in a Series B financing round, bringing its total investment to $58 million. PlanGrid lets users upload, track and sync changes to blueprints with a smartphone or tablet.
Caterpillar has also jumped into the tech startup arena and is backing Uptake Technologies, which won the title of Forbes’ 2015 hottest startup. Uptake uses sensors to transmit equipment maintenance and performance data to users and reached a $1 billion valuation last October.
