The round was led by Rincon Venture Partners, with participation from Eniac Ventures and Spider Capital.
The company intends to use the funds to accelerate product development.
Co-founded in 2013 by CEO Kyle Slager, CEO, and Dr. Sergey Sundukovskiy, CTO/CPO, Raken is a web and mobile reporting, compliance and project visibility application for the construction industry.
Mobile apps are targeted toward superintendents and job foremen, whereas web apps provide overall project visibility to project managers and project engineers to view updates from the job site in real-time, including safety and delay notifications via text message and email.
Raken currently has more than 2,500 clients in 13 countries and is now adding over a hundred new customers every month.
FinSMEs
03/03/2017