Clearstory, the pioneering change order communication platform in the construction industry, has announced the successful closure of a $16 million Series B funding round. This investment, led by Prudence alongside Industry Ventures and existing investors Jackson Square Ventures, Building Ventures, GS Futures, and Cloud Apps Capital Partners, brings Clearstory’s total capital raised to $35 million. The funding will facilitate accelerated growth and further enhancement of its platform, which has become integral to streamlining change order processes across North America’s largest contractors.
Since its inception in 2018, Clearstory has rapidly established itself as the go-to platform for managing out-of-contract work in construction. The company facilitates the seamless collaboration between owners, general contractors, and specialty contractors, processing over 19,000 change orders amounting to $850 million monthly. Notably, Clearstory boasts a clientele including 13 of North America’s top 25 general contractors, such as Suffolk, Clayco, Barton Malow, and Swinerton.
Cameron Page, CEO of Clearstory, expressed enthusiasm about the funding round, stating, “This investment will fuel our platform’s expansion, enabling us to accelerate product development and recruit top-tier talent to drive innovation. Our mission is to alleviate significant pain points in financial and operational processes for construction stakeholders.”
Editorial Opinion:
Empowering Construction Efficiency
The $16 million Series B funding secured by Clearstory marks a significant milestone in the evolution of construction technology. With the change order process representing a substantial portion of industry expenditures, Clearstory’s innovative platform is poised to revolutionize how stakeholders manage and resolve these critical transactions. By digitizing and centralizing change order workflows, Clearstory not only enhances collaboration and transparency but also mitigates financial risks and operational inefficiencies across construction projects of all scales.
Industry Overview
In an era where digital transformation is reshaping traditional industries, Clearstory stands out for its impactful role in modernizing construction business processes. The platform’s integration with leading construction management tools underscores its commitment to enhancing operational efficiency and financial visibility. As the construction sector increasingly embraces technology-driven solutions, Clearstory is well-positioned to lead the charge in optimizing project outcomes and driving industry-wide innovation.
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