Miter Raises $40M to Modernize Construction Workforce

The big picture: San Francisco-based Miter, an AI-powered workforce management platform for the construction industry, has raised a $40 million Series B funding round.

Why it matters:

• Industry Complexity: The construction sector is highly complex, making it challenging for technology providers to develop effective, integrated tools.
• Infrastructure Demand: The U.S. faces unprecedented demand for new infrastructure, necessitating rapid modernization of construction operations.
• Operational Efficiency: Miter helps contractors streamline back-office functions and jobsite coordination, unifying workforce, financials, and field operations.

How it works:

• Data Intelligence: The platform’s AI parses and structures data from invoices, receipts, and pay rate tables to provide actionable insights.
• Workflow Automation: Miter automates complex, manual back-office workflows, improving efficiency and reducing human error.
• Field Reporting: AI capabilities extend to the field, generating safety reports from photos or voice notes and summarizing job status.

The catch: The construction technology market is increasingly crowded, with numerous solutions targeting various aspects of project management and workforce optimization. Miter’s continued success will depend on its ability to rapidly scale its AI product development and maintain a competitive edge against both specialized startups and larger enterprise software providers entering the space.

Key Facts

• Company: Miter
• Amount: $40M
• Round: Series B
• Investors: Battery Ventures (lead), Bessemer Venture Partners, Coatue
• Founders: Connor Watumull, Tobin Paxton
• Sector: Construction Workforce AI
• Headquarters: San Francisco, US