Ontraccr Closes $1.2 Million in Seed Round
Ontraccr Technologies, a Vancouver, BC-based construction management software provider, closed $1.2 million in seed funding round.
The funding round saw participation from strategic investors including LAB Ventures and Buildtech Ventures, notable venture capital firms specializing in construction and property technology (proptech). Additionally, undisclosed industry executives contributed to the round.
The company will use the fresh funds to enhance its platform and facilitate expansion into additional industry segments, with a particular focus on penetrating the United States market.
Established in 2019 by Syed Ahmed, Shane McNamara, and Jas Nijjar, Ontraccr Technologies is a company that offers an all-in-one, no-code solution tailored for construction companies. Their platform encompasses a comprehensive suite of tools ranging from project management, billing, and time tracking to operations and analytics. Notably, the software is designed for seamless utilization across various devices including computers, phones, and tablets. Additionally, Ontraccr facilitates integrations with third-party software like Quickbooks and offers support for in-house IT systems through its API.
Funding Details
Company: Ontraccr Technologies, Inc.
Raised: $1.2M
Round: Seed Round
Funding Month: March 2024
Investors: LAB Ventures and Buildtech Ventures
Company Website: https://www.ontraccr.com/
Software Category: Construction Management