Construction workers use a field-management app for daily reports, time tracking and safety on site.
Carlsbad, California, September 12, 2025
A private equity firm has completed a majority growth investment in a Carlsbad-based construction field-management software provider that serves more than 4,500 firms and over 70,000 users across North America. The deal injects capital and operational support to expand product capabilities—like daily reports, time cards and safety management—while accelerating sales and customer success. The incumbent CEO will remain in place and two representatives from the investor will join the board. The funding is intended to broaden integrations, speed enterprise adoption and continue supporting small contractors with a field-first mobile experience.
Sverica Capital Management has made a majority growth investment in Raken, a Carlsbad, California company that sells mobile and web software for construction field management. The deal backs a platform used by more than 4,500 construction firms and over 70,000 professionals, according to company figures released with the transaction.
Raken provides a field-first app that helps contractors move daily paper processes into mobile devices. Its main products include Daily Reports for real-time site documentation, Time Cards for tracking labor hours and production, and Safety Management to complete checklists and incident reports. The platform also includes resource scheduling, project insights, and tools for real-time communication between field crews and office teams.
The seller presents the platform as helping contractors save time and money, reduce risk, and keep projects on track by making information flow from the field to the office in real time and by improving data reliability and decision making.
Founded in 2013 and based near San Diego, Raken serves general contractors, subcontractors and specialty contractors across North America. The company reports more than 4,500 firms on the platform and over 70,000 users. The company was founded by Brett Telenko and is led by CEO Ty Kalklosch, who will continue to run the business after the investment.
The investor, Sverica Capital Management LP, is described as a private equity firm that focuses on North American companies and targets situations where it can reinvest in growth. As part of the transaction, two Sverica investment professionals will join Raken’s board. Sverica says it will support product development and reinvest back into the business to launch new features and expand the platform.
Sverica’s current fund closed in March 2023 with roughly $750 million, and the firm reports cumulative committed capital of about $2.2 billion since inception. Sverica targets companies with less than $20 million in EBITDA and enterprise values under $250 million, and it focuses on sectors that include technology, business services, software, healthcare and advanced industrials.
The construction technology market has attracted large investor interest in recent years as contractors look to digitize operations and respond to labor shortages, increased infrastructure spending and demands for greater transparency. Between 2020 and 2022, more than $50 billion flowed into architecture, engineering and construction technology, an increase of roughly 85% from the prior three-year span, according to a 2023 industry report. A majority of surveyed firms say they plan to maintain or grow their AEC tech investments.
Industry observers point to a shift from single-purpose tools toward broader platforms that bring together scheduling, productivity, safety and compliance. At the same time, many contractors are small firms with limited IT budgets and legacy processes, which slows widespread adoption. Interoperability and ease of rollout remain key hurdles for companies scaling across large organizations.
The investment signals continued investor confidence in software that helps construction teams replace manual workflows with digital tools. For customers, the deal could mean faster product development, deeper integrations and expanded support. For the market, increased platform consolidation and moves toward interoperability may follow as more buyers seek enterprise-ready solutions that cover daily reporting, time and production tracking, safety and quality management, and workforce planning.
Raken will continue to operate from its Carlsbad headquarters under current leadership, while the investor plans to work closely with the management team to accelerate product road maps and customer support. No specific financial terms were disclosed.
A private equity firm completed a majority growth investment in Raken to provide capital and operational support for product development and expansion.
General contractors, subcontractors and specialty contractors across North America use the platform. The company reports support for over 4,500 firms and more than 70,000 users.
Key offerings include Daily Reports, Time Cards and Safety Management, alongside resource scheduling, project insights and real-time communication tools.
The investor plans to reinvest capital into product features, add board-level support and apply resources to help scale sales, integrations and customer support.
Customers can expect continued leadership, possible faster product updates, deeper integrations and expanded support aimed at making field-to-office data flow more reliable.
| Feature | Purpose | Notes |
|---|---|---|
| Daily Reports | Real-time site documentation | Field-first mobile entry |
| Time Cards | Track labor hours and production | Payroll and productivity data |
| Safety Management | Checklists and incident reports | Compliance and risk control |
| Resource Scheduling | Assign crews and equipment | Helps plan daily work |
| Project Insights | Dashboards and analytics | Supports budgeting and forecasting |
| Real-time Communication | Field-to-office updates | Improves alignment and decisions |
| Scale | Users and firms | 4,500+ firms; 70,000+ users |
| Company info | Headquarters and founding | Carlsbad, California; founded 2013 |
| Investor focus | Type and support | Majority growth investment; board support and reinvestment |
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