Raken, Inc.

Raken, Inc. is a construction management software provider that streamlines field operations for contractors, focusing on daily reporting, workforce management, and compliance solutions. Founded in 2012 and headquartered in Carlsbad, US, Raken, Inc. specializes in construction management software.

The company has undergone strategic development to enhance its offerings and primarily serves contractors in the United States, Canada, and Australia. The CEO, Ty Kalklosch, leads the firm, which has raised a total of USD 10. 00 mn through a Series A funding round led by US Venture Partners in June 2018, among other investors. Raken offers a comprehensive construction management software platform designed to enhance field operations for contractors across various specialties.

Their product suite includes daily progress reporting, time and production tracking, workforce management, safety and quality assurance, and document management features. The software facilitates real-time data capture via mobile and web applications, generating automated reports and ensuring compliance with safety standards. Raken's primary clientele comprises subcontractors, general contractors, and specialty trades, focusing on improving project visibility and reducing construction risks. Raken operates on a subscription-based revenue model, charging clients for access to its software suite tailored for construction firms.

Customers choose from various pricing plans that offer differing access levels to features such as daily reporting, time tracking, and document storage. The flagship offering is the Daily Progress Reporting feature, which is key to the company’s value proposition. Transactions occur directly between Raken and its clients, with firms paying monthly or annual subscription fees, thereby supporting a recurring revenue stream from a diverse range of construction firms. Raken plans to leverage the USD 10 million raised in the Series A funding round from June 2018 to enhance its software offerings and expand its market presence.

The company is focused on developing new products to enhance user experience and intends to explore new geographic markets, particularly in Europe, by 2023. Recent funding will be utilized to support these initiatives, ensuring that Raken remains competitive in the construction management sector.