Lumber, an AI-based construction workforce management platform, announced a $15.5 million Series A funding round led by Foundation Capital, with participation from Tishman Speyer, Carbide Ventures, 8VC, Sure Ventures, and FirsthandVC.
This funding round follows a major year of rapid product development, including the launch of eight new products, strong momentum with specialty contractors and construction partners, and strategic team expansion with key industry experts.
Lumber’s platform helps construction firms automate time-consuming back-office functions, enabling them to focus on strategic, high-value work. Leveraging cutting-edge AI, Lumber offers intelligent scheduling, automated compliance monitoring, and adaptive payroll processing that expertly handles complex union regulations.
This shift signifies a major reduction in administrative overhead for construction contractors, freeing up valuable man-hours previously consumed by lengthy documentation. And this leads to a greater allocation of resources towards core construction activities, ultimately driving increased productivity and enhanced project profitability.
This funding will advance Lumber’s product development and market expansion, with a focus on enhancing its AI capabilities and scaling its customer success operations. And Lumber is developing autonomous AI agents that interact with real-time digital representations of construction sites, enabling companies to optimize operations, improve safety and compliance, and reduce costs and inefficiencies. These agents include:
— HR AI Agent – Manages hiring/onboarding/training for construction workers.
— Payroll AI Agent – Automates wage calculations/tax deductions.benefits management/multi-state payroll compliance.
— Safety AI Agent – Ensures OSHA compliance/tracks worker fatigue/prevents overexertion.
The construction industry faces major challenges, including a persistent skilled worker shortage, with 80% of firms reporting difficulties finding qualified employees (AGC). But the adoption of digital technologies can substantially improve project performance.
KEY QUOTES:
“Lumber is the essential solution that understaffed back offices desperately need. Our intelligent platform empowers companies of all sizes to efficiently manage their workforce, ensure compliance, and significantly reduce administrative burdens.”
– Shreesha Ramdas, Founder and CEO of Lumber
“We are on the verge of a labor crisis in the construction industry and really all skilled labor sectors in America. Lumber removes the complexities of payroll, compliance, and HR operations for construction firms. But critically the Lumber platform is also built for the construction worker, helping them build safe and thriving careers in the trades. The more Lumber grows, the more they help fortify one of our most important industries.”
– Zach Noorani, Partner at Foundation Capital
