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New Orleans’ Levelset Raises $30M As U.S. Construction Tech Funding Tops $1B In 2019

Levelset, a platform that helps contractors get paid faster and more efficiently, has raised a $30 million Series C round of funding led by Hong Kong-based Horizons Ventures.

(Levelset ranks among the most-funded startups in Louisiana today, according to Crunchbase data.)

CEO Scott Wolfe founded Levelset after Hurricane Katrina hit New Orleans in 2005, and his family was working in reconstruction efforts.

Levelset’s SaaS platform helps contractors, according to the company, cut that time down to an average of “low 40s” days “by making payment paperwork and compliance easier.”

Levelset is used on more than 100,000 unique construction projects every month, with over $30 billion of project value active on its platform “at any given time,” according to Wolfe.

If you remove the two large rounds mentioned above, funding in U.S.-based construction and building tech startups totaled just under $900 million in 2018.

So far in 2019, funding in the sector amounts to $1.084 billion, according to Crunchbase data.

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