Miter, the AI Platform for Construction, Raises $40 Million for the Built World

Miter is modernizing the $2 trillion construction industry's dreaded tech "Frankenstack," helping fuel the boom in data center, housing and energy buildouts nationwide

SAN FRANCISCO, Sept. 30, 2026 /PRNewswire/ -- Miter, the leading AI-powered workforce management platform for the construction industry and the built world, announced it has raised a $40 million Series B round of financing led by Battery Ventures, bringing its total capital raised to $78 million. Existing investors Bessemer Venture Partners and Coatue also participated.

Miter intends to use the funds to continue investing in AI products that help customers run their back offices and jobsites. The company will also significantly grow its engineering team based in San Francisco and New York and add to its go-to-market teams across the U.S. Miter's products are already in use by major general and specialty contractors, SMBs and other enterprises.

Current customers include Clayco, an Engineering News-Record (ENR) Top 5 design-build firm that delivers complex, high-performance projects with an unwavering commitment to safety, and Haugland Group, a family-owned, union-strong infrastructure services organization with more than 1,600 employees, delivering integrated solutions across energy, heavy civil, marine and logistics, and technology and engineering.

Today, the construction industry is a notable bright spot in the U.S. economy. The sector added 22,000 jobs in August as overall U.S. employment declined, according to the Bureau of Labor Statistics. AI data center projects drove much of that job growth, and both are projected to keep climbing. Roughly two of every 100 American construction workers now get paid through Miter, while contractors use the platform to coordinate workforce management, field operations, job costing and expenses across hundreds of thousands of active jobs each month. The company is rapidly building out related products for the field and back office in areas such as safety, accounts payable and project intelligence to keep up with new demand.

"The U.S. has never needed this much new infrastructure this fast. We need to unleash the potential of electricians, welders, carpenters and ironworkers everywhere," said Connor Watumull, who co-founded Miter with Tobin Paxton and serves as CEO. "Miter is helping contractors modernize their operations and unify their workforce, jobsites and financials in one system."

Miter has also embedded deep AI capabilities across the platform, giving superpowers to the teams building the world we live in. In the back office, Miter's technology parses and structures the data buried in invoices, receipts and pay rate tables; runs the complex workflows contractors previously did by hand; and surfaces labor and job cost trends while the job is still running rather than weeks after it closes. In the field, Miter's AI creates safety reports from photos or voice notes and summarizes job status using inputs from across the platform. The company plans to extend AI capabilities further to help contractors build stronger teams and increase profits.

Watumull says most contractors now rely on a cobbled-together "Frankenstack" of 1980s-era software, spreadsheets and paper to run their businesses. That's partly because of the unique demands of construction industry accounting and payroll. Most contractors require specialized technology to "job cost," the practice of tracking costs to specific projects and cost codes. A single construction crew can trigger compliance requirements across payroll, HR and safety at once, such as prevailing wage laws and certified payroll reports on publicly funded projects. Those obligations extend further to taxes withheld across multiple states as crews move between jobsites, meal and rest break rules that vary by state, and OSHA recordkeeping requirements.

"The construction industry is tremendously complex, which has made it difficult for technology providers to develop robust tools attuned to customers' specific demands, despite the large potential market," said Michael Brown, a Battery Ventures general partner. "But Connor, Tobin and their team have succeeded in developing an easy-to-use, integrated product that delivers payroll as well as other mission-critical business functions. The traction they've achieved is impressive, and we're excited to watch them leverage technology to take on more of the work their customers do by hand today."

Watumull previously worked as a venture capital investor and, prior to that, as a product manager in the technology industry and as a management consultant. He and Paxton announced Miter's Series A fundraising round in May 2025; since then, the company has tripled its customer count.

About Miter

Driven by a vision of a better built world, Miter's AI-native operating system makes it easier and faster to build critical infrastructure by empowering the next generation of contractors to strengthen their workforce, control job costs and accelerate jobsite execution. More than 2,000 contractors, from ENR Top 20 builders to family-owned specialty contractors, run payroll, HR, field operations and expense management on Miter. Miter has tripled customer count in the 18 months and is backed by Battery Ventures, Bessemer Venture Partners and Coatue, the investors behind Shopify, Toast, Procore and ServiceTitan. Learn more at miter.com.

SOURCE Miter