United States, October 13, 2025
News Summary
Trimble has acquired Flashtract, bringing the billing and compliance platform into its broader project and finance toolset while integrating the Flashtract team and product into Trimble’s payments and ERP workflows. All 24 Flashtract employees will join Trimble to support customer migrations and product integration. Separately, Speedchain raised $111 million in debt and equity to expand its construction-focused card and spend management platform, addressing persistent challenges around tracking receipts and reconciling costs across job sites. The moves underscore consolidation and investment in construction software and fintech solutions that bridge project management and accounting systems.
Trimble acquires Flashtract; all 24 Flashtract employees will join Trimble — and Speedchain raises $111 million in debt and equity
Trimble (NASDAQ: TRMB) has acquired Flashtract, a construction billing automation startup, and All 24 Flashtract employees will join Trimble as part of the acquisition. Financial terms of the Trimble–Flashtract deal were not disclosed. Separately, Speedchain raised $111 million in debt and equity, a move that industry observers say responds to persistent payment and tracking challenges on dispersed construction jobs.
What the Trimble–Flashtract deal means now
Flashtract’s platform will integrate into Trimble’s suite of products, including Trimble Pay. Flashtract began partnering with Trimble in 2022, and Flashtract and Trimble’s teams started seriously discussing acquisition in late 2023. Flashtract positions itself as a point solution focused on the billing/payment bridge between project management and accounting systems, and its integrations and workflow functionality are expected to be folded into Trimble’s offerings to reduce friction between field operations and accounting.
Trimble Pay integration can reduce the two to three days of manual work per month by project managers or accountants. Adding the ability to manage workflows with subcontractors electronically through Trimble Pay is intended to help contractors improve compliance and keep projects on schedule and budget.
Flashtract background, funding and product snapshot
Flashtract officially launched in 2020. Flashtract raised a $15 million Series A in early 2022. Flashtract offers products for general contractors and subcontractors, including Flash Prime and Flash Specialty, and Flash Prime and Flash Specialty help protect cash flow for users despite payment delays.
The platform creates a contiguous digital workflow for billing and payment. Key capabilities include automates lien waiver collection, supports digital signatures, provides insurance tracking, and tracks diversity and inclusion information. Flashtract generates application for payment documents, lien waivers and other compliance documents through configurable approval workflows. Users input percentage complete, work completed this period, or materials stored; Flashtract uses those inputs to generate pay applications and compliance documents and validates submitted numbers against the agreed scheduled value and issued change orders to reduce risk of overbilling.
Flashtract performs calculations such as retainage and payment due on behalf of subcontractors in real time. General contractors can flag specific line items for revision; subcontractors can adjust and resubmit with a few clicks. The platform imports contract details from contracts to define liquidity events and eliminate manual entry. For a majority of customers, Flashtract pulls data directly from the customer’s ERP or project management software through existing integrations, including an integration with Procore using Procore’s APIs and availability on the Procore marketplace.
Flashtract has partnered with Ryvit to provide automated integration experiences for ERPs like Viewpoint Vista and Sage 300 CRE. Where strict control is needed, Flashtract provides easy-to-use templates for batch uploads. Flashtract has a Customer Success and Onboarding team that provides ad-hoc training, answers questions and assists with data migrations. Flashtract also embedded financing options (white-labeled from Lendflow) starting in November 2021 to offer context-aware lending at the point of payment.
Business model and go-to-market
Flashtract charges a SaaS fee for ongoing product enhancement and also charges a fee based on annual approved pay applications. Flashtract frequently releases features across all customer tiers to optimize processes and reduce cycle time for approving pay applications. The company has emphasized value-based and transaction-volume pricing approaches and the potential to monetize embedded financing and commerce to generate revenue beyond pure software licensing.
Speedchain: the raise and why it matters
Speedchain is a construction-focused card and spend management platform. Daniel Cage is CEO of Speedchain. Speedchain raised $111 million in debt and equity. Why the Speedchain raise matters: construction firms’ finance teams often struggle to track receipts and reconcile costs in real time across multiple job sites. The new funding is positioned to expand product capabilities and scale customer acquisition for workloads where timely spend visibility and card management can remove manual reconciliation burdens.
Southeast funding, consolidation and market context
The Southeast U.S. construction technology sector has seen notable funding and acquisition activity since COVID. Examples include Atlanta-based sustainable construction startup cove.tool raised $30 million in a Series B; North Carolina-based Prescient closed a $190 million round; North Carolina-based Higharc closed a $21 million Series A; Florida-based Togal.AI raised $5 million in 2022; and Procore acquired New Orleans-based Levelset for $500 million in October 2021.
The market for application-for-payment software, construction accounting software and construction ERP is maturing and consolidating. Application for payment is a challenging business process for both general contractors and subcontractors, and multiple vendors compete to serve that workflow with either ERP suites or point solutions.
Industry trends and operational pressures
The construction industry faces a skilled labor shortage and is managing increased costs and supply chain pressures. Specific long lead times cited include generators, transformers, certain types of wiring, and stainless steel tubing. Some construction firms use long-term strategic planning, manufacturer relationships, and logistics models such as early ordering and flexible storage to mitigate supply chain impacts.
Construction employment is at an all-time high in parts of the industry, and inflation has been decreasing month over month. Growth is anticipated in the construction industry over the next 12 to 24 months, with a strong pipeline into 2026. Sustainable construction practices and prefabrication are being used to increase efficiency, improve quality and reduce high-hazard activity on projects. The increase in technology adoption is creating benefits but also a proliferation of point solutions that makes buying and implementing technology more complicated for customers, driving a market push for consolidation of products and services.
Bottom line
The Trimble–Flashtract acquisition folds a focused billing and payment workflow platform into a large construction software suite and brings All 24 Flashtract employees will join Trimble to accelerate integration. At the same time, pronounced funding for firms such as Speedchain underscores continued investor interest in software that addresses finance, payment and spend challenges across multi-site construction operations.
FAQ
Q: Who joined Trimble as part of the acquisition?
A: All 24 Flashtract employees will join Trimble as part of the acquisition.
Q: Were the financial terms made public?
A: Financial terms of the Trimble–Flashtract deal were not disclosed.
Q: When did Flashtract launch and what funding did it raise?
A: Flashtract officially launched in 2020. Flashtract raised a $15 million Series A in early 2022.
Q: What features does Flashtract provide?
A: Flashtract’s platform creates a contiguous digital workflow for billing and payment. Flashtract automates lien waiver collection. Flashtract supports digital signatures. Flashtract provides insurance tracking. Flashtract tracks diversity and inclusion information. Flash Prime and Flash Specialty help protect cash flow for users despite payment delays. Flashtract’s solution generates application for payment documents, lien waivers and other compliance documents through configurable approval workflows.
Q: What company raised $111 million and who leads it?
A: Speedchain raised $111 million in debt and equity. Daniel Cage is CEO of Speedchain.
Q: Why does the Speedchain raise matter?
A: Why the Speedchain raise matters: construction firms’ finance teams often struggle to track receipts and reconcile costs in real time across multiple job sites.
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Key features at a glance
| Topic | Key features |
|---|---|
| Trimble–Flashtract | Integration into Trimble suite including Trimble Pay; All 24 Flashtract employees will join Trimble; Financial terms of the Trimble–Flashtract deal were not disclosed. |
| Flashtract product | Creates a contiguous digital workflow for billing and payment; automates lien waiver collection; digital signatures; insurance tracking; diversity and inclusion tracking; Flash Prime and Flash Specialty. |
| Flashtract integrations | ERP and project management integrations; Procore marketplace availability; partnerships with Ryvit; embedded financing via Lendflow (white-labeled). |
| Business model | SaaS fees and fees based on annual approved pay applications; value-based and transaction-volume pricing models; embedded financing and commerce as revenue routes. |
| Speedchain | Speedchain is a construction-focused card and spend management platform; Speedchain raised $111 million in debt and equity; Daniel Cage is CEO of Speedchain. |
Deeper Dive: News & Info About This Topic
Additional Resources
- Axios Pro: Speedchain raises $111 million
- Wikipedia: Construction finance
- Hypepotamus: Flashtract acquisition (2024)
- Google Search: Flashtract acquisition 2024
- ForConstructionPros: Why constructech vendors like Flashtract are attracting capital
- Google Scholar: constructech vendors Flashtract
- Construction Dive: DPR Construction Atlanta supply chain
- Encyclopedia Britannica: Supply chain
- The Malaysian Reserve: Kleinknecht Electric goes live on SIS CRM for construction
- Google News: construction CRM
Author: Construction CA News
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