New Orleans-based construction technology startup zlien has announced a $1.3 million funding round led by Brick & Mortar Ventures.
The cloud-based lien rights management platform provides software and services to help building material supply and construction companies reduce their credit risk and default receivables through the management of mechanics lien and bond claim compliance.
zlien also released a new Waiver Exchange tool that allows the entire construction industry to digitally sign, exchange, and collaborate on lien waivers, which are typically exchanged thousands of times per day.
“It’s about time for a tech solution to the lien waiver problem,” says Darren Bechtel, the managing director of Brick & Mortar Ventures. “Lien waivers are key components of every construction payment transaction. The construction technology industry has been exploding recently with the emergence of job site apps and project management platforms, and now lien waivers finally have their solution.”
The high-growth startup now has over 10,000 users, including Fortune 500 company ThyssenKrupp Elevator Corporation, GrayBar, and L&W Supply. The platform platform processed more than 250,000 projects last year while securing over $4 billion in contract value.
zlien participated in the Coulter IDEApitch during New Orleans Entrepreneur Week (NOEW) back in 2014 and won an all-expenses-paid trip to meet with investors in Silicon Valley.