Miter Raises $38M from Bessemer and Coatue to Help Contractors Build with Confidence
SAN FRANCISCO--(BUSINESS WIRE)-- Miter, a leading provider of cloud-based human capital management (HCM), field operations, and expense management solutions for the construction and field service industries, today announced it has raised a total of $38M, including a recent $23M round led by existing investors Bessemer Venture Partners and Coatue Management LLC.
"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 was founded in 2021 to help construction and field service contractors build with confidence. Miter's long-term vision is to make it faster and easier to build critical infrastructure like energy systems, housing, transportation, and data centers.
Miter helps contractors modernize their back-office and field operations by connecting HR, finance, and operations in one platform. Miter typically replaces desktop-based applications or industry-agnostic software.
Miter's cloud-based platform empowers contractors with the tools they need to build high-performing teams, control job costs, and manage their operations. Built for the construction industry, Miter simplifies everything from job costing to union or Certified Payroll compliance to employee onboarding, time-tracking, expense management, and benefits administration.
"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.'
More than 700 contractors of all sizes have partnered with Miter to connect HR, finance, and operations in one platform. Miter works with other industry leaders to deliver seamless integrations with top construction ERPs (Sage, NetSuite, and Acumatica), and project management and field service solutions (ServiceTitan, BuildOps, Procore, and HCSS).
Contractors have streamlined their operations using Miter, saving 20-40 hours per week on payroll processing alone. Miter has also helped contractors expand without adding administrative overhead by providing the scalable infrastructure needed to support growth.
'Miter rescued us from payroll and time-tracking chaos,' said Garrett Henke, COO at 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."
'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, 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.'
About Miter
Miter is an HCM, field operations, and expense management platform built for contractors. Driven by a vision of a better built world, Miter makes it easier and faster to build our critical infrastructure by empowering the next generation of contractors to strengthen their workforce, control job costs, and accelerate jobsite execution. The platform connects people, projects, and payments, enabling contractors to build with confidence. Learn more at miter.com
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