Raken, a technology company that provides a field management platform for the construction industry, has announced that Sverica Capital, a private equity firm focused on growing technology businesses, has acquired a majority stake in the company.
This investment is expected to fuel Raken’s continued expansion and strengthen its position as a leading solution designed specifically for construction teams working on job sites. The platform is designed to provide teams with better visibility into their projects, enhance productivity, and mitigate operational risks.
Over the past several years, Raken has undergone a period of rapid growth and innovation. The company has expanded its user base from 13,000 to 70,000 and evolved from offering a daily reporting tool into a full-featured field management platform. Today, Raken’s software includes capabilities such as time tracking, safety management, project management, scheduling, and other tools that help construction companies streamline their operations and keep projects on track.
The leadership team at Raken will remain in place to guide the company’s strategy and vision as it scales. Ty Kalklosch will continue to serve as chief executive officer, ensuring continuity in leadership and direction. As part of the transaction, Sverica Capital’s Jordan Richards and Michael Dougherty will join Raken’s board of directors, bringing additional expertise and resources to support the company’s next phase of growth.
With Sverica’s backing, Raken plans to further enhance its platform, expand its reach in the construction industry, and continue developing tools that make it easier for field teams to communicate, manage tasks, and deliver projects efficiently. The partnership is expected to help Raken build on its momentum and solidify its position as a trusted technology partner for construction professionals nationwide.
KEY QUOTES:
“This new chapter with Sverica represents an exciting milestone for Raken. Their experience supporting high-growth software companies will help us continue to serve our customers’ growing needs, build innovative new solutions, and expand our field management platform for the construction industry.”
Ty Kalklosch, CEO of Raken
“Raken has built an impressive platform that solves real problems for construction professionals. We are excited to partner with Ty and the talented Raken management team as we reinvest back into the company, launch new product features and ultimately aspire to lead the category.”
Jordan Richards, Managing Partner at Sverica
“Raken is helping contractors automate key workflows and digitize what have historically been processes managed with pen and paper. The market opportunity and the team’s vision for the product are compelling.”
Michael Dougherty, Principal at Sverica
