SAN FRANCISCO — Construction tech startup Miter has announced it has raised a total of $38 million to scale its integrated HR, finance, and operations platform designed specifically for the construction and field service sectors. The total includes a recent $23 million investment round led by returning backers Bessemer Venture Partners and Coatue Management LLC, reinforcing strong investor confidence in the company’s mission to modernize the way contractors manage their businesses.

Founded in 2021, Miter has rapidly positioned itself as a key player in construction technology by offering a cloud-based solution that centralizes human capital management, field operations, and financial tools. The platform aims to empower contractors to build smarter and more efficiently in an industry that has long been underserved by traditional enterprise software.

"With the help of our customers, we’re building a platform that helps ambitious contractors navigate change and build with confidence,” said Connor Watumull, Co-Founder and CEO of Miter. “We want to unleash the potential of contractors everywhere.”

Miter’s platform is tailored to address the distinct challenges of construction firms, many of which are still relying on outdated desktop applications or generic software not designed for the intricacies of field-based work. The company offers tools for job costing, payroll compliance (including union and Certified Payroll), onboarding, time tracking, expense management, and benefits administration—all in one unified interface.

With more than 700 contractors across the country already using Miter’s platform, the company has demonstrated strong traction in streamlining administrative work and enabling growth. According to customer feedback, Miter has helped reduce payroll processing time by up to 40 hours per week, while providing the infrastructure necessary for geographic and service expansion—without increasing overhead.

“Miter rescued us from payroll and time-tracking chaos,” said Garrett Henke, COO of American Roofing & Metal. “Miter has allowed us to serve new states and public sector projects that we would have struggled with on our old system, and it also gives us real-time insight into our labor costs. It is a game changer."

Beyond payroll and HR management, Miter also offers robust integrations with major construction software, including Sage, NetSuite, Acumatica, Procore, ServiceTitan, BuildOps, and HCSS, allowing customers to seamlessly connect their operational workflows.

“Contractors have a challenging job – not only do they need to be experts in how to build the critical structures, but they also need to solve one of the most complex human capital problems – staffing high quality experts across multiple disciplines for overlapping projects where each can have unique wages, benefits, and taxes,” said Kent Bennett, Partner at Bessemer Venture Partners. “Connor and the team at Miter are solving this massive headache with a workforce platform that automates away the most painful parts of managing a construction firm so that contractors can get back to the business of making the world work. The customer response to the Miter product has completely validated the pain point, the elegance of Miter’s solution, and the incredible quality of their team. We’re thrilled to be investors.”

The new capital will be used to accelerate product development, grow Miter’s engineering and customer success teams, and deepen partnerships with software and services providers across the construction ecosystem. Miter’s long-term goal is to support the creation of essential infrastructure—from housing and energy systems to data centers and transportation projects—by making the business side of contracting more agile and efficient.

About Miter

Miter is a cloud-based platform purpose-built for construction and service contractors to simplify and streamline HR, finance, and operations. Its tools help businesses manage workforce complexity, optimize project costs, and scale operations without administrative bottlenecks. By uniting people, projects, and payments in a single platform, Miter is enabling contractors to "build with confidence" and deliver the infrastructure of tomorrow. Learn more at miter.com.

Originally reported by Business Wire.