Trayd: Construction Payroll

Getting excited for Blueprint: The Future of Real Estate. If you're heading to Las Vegas in September, shoot me a message and let's make sure to meet up!🎲 #contech #startups

Today, Bain Capital Ventures and Headline recognize 50 emerging vertical SaaS companies with our second annual Vertical SaaS 50! 🏭 We continue to see founders building in fragmented industries that are heavily document based: Once again, we had strong company representation in architecture, engineering and construction (AEC) with the likes of BuildVision, Trayd, Trunk Tools and XBuild, as well as in logistics, with Axle, Boon, Cargado and Pallet. This year, we saw more companies building in professional services with Eve, Garden, and Materia AI, financial services with Rogo and Zocks, and government with Forage and Polimorphic. ✨ Advancements in AI have unsurprisingly unlocked many vertical SaaS capabilities: Companies like Bolo AI offer an AI-powered knowledge platform for oil & gas, MagicSchool AI provides K-12 teachers with a co-pilot and Norm Ai uses AI agents to take care of regulatory compliance. Taylor Brandt and I are excited to hear from you! If you are building a vertical SaaS company or have recommendations for our 2025 list please reach out to us directly. Read more here: https://lnkd.in/ee8YFHTx

Can construction workers get paid as fast as Uber drivers? YES! And it's all thanks to Trayd. In this snippet from our latest podcast episode, Anna Berger (co-founder of Trayd) shares how her startup is revolutionizing the construction industry with same-day pay AND attracting more workers. Here's what we cover: -Anna's frustration with outdated construction payroll systems ...and how it sparked a brilliant idea💡 -Why construction workers were ditching their jobs for gig work -How Anna convinced her skeptical best friend to become her co-founder -Overcoming those "no's" early on and getting the "yes" from Y Combinator This is a MUST-LISTEN for anyone interested in startups, the construction industry, or solving big problems.  Want to hear the full story? Watch the full episode here - https://lnkd.in/e_gVFAGg #construction #startup #ycombinator #samedaypay #innovation #entrepreneurship

Payroll is a problem in the world of construction. 👉 Trayd provides a payroll platform for commercial real estate contractors to provide same-day pay for their workers. 💰 The company sells with a B2B SaaS model, charging per employee per month. 📈 Raised $1.75 million from Sunstone Management, UpHonest Capital, 468 Capital, Pioneer Fund, and Y Combinator 👫 Anna Berger - Co-Founder, CEO Cara Kessler - Co-Founder, CTO Read the full article on our website 🦄 👇

Day 11/31 of Construction Tech Profiles Trayd - Construction Payroll for Same-Day Pay There’s a huge labor shortage everywhere in construction. But the important question is, where is all this labor going? According to Trayd, 600,000 construction workers are leaving for the gig economy, joining companies such as Uber or DoorDash. And for every seven people in the industry that retire, one person enters into an apprenticeship. Why are so many construction workers leaving behind higher-paying jobs and years of experience to work in the gig economy? One theory is the lack of same-day pay in construction. While gig work can be lower paying, it can offer same-day pay, where workers can be compensated daily for the work they do, instead of having to wait weeks or months for a payment to come in the construction industry. Late payments cost the construction industry $208 billion every year. According to Trayd CEO, Anna Berger, only 17% of construction companies have implemented payment automation, while only 9% plan to implement it. And the payment automation platforms currently available to the construction industry are outdated, often leaving workers in limbo while they wait for a payment to clear. Without a solution to these payment problems, construction workers will continue to leave the industry without any replacement. This is where Trayd steps in. By using its proprietary platform to make it simple and easy for workers to track their work, contractors and other workers can get paid the same day. By streamlining time-tracking and payroll into a single software, Trayd can save tens of hours a week of manual, back-office work. Trayd is led by Anna Berger & Cara Kessler. Berger has a deep background in startups and construction, having previously co-founded 2 startups, and having grown up in construction, where her father is an architect. The idea for Trayd came about over lunch with her father, where they mulled over a conversation in which a sub-contractor had come up and asked if he could be paid for the work he had already done, instead of waiting weeks for the payout. Kessler comes from a technical background. She spent seven years at LinkedIn, eventually leading a huge team of engineers, and had the itch to try something new. Having been life-long friends with Berger, attending and eventually working at the same summer camp together when they were kids, it seemed like fate when Berger asked her to take a trip to Italy together. Beginning with Berger’s hometown, New York, Trayd is looking to start with a close circle of early users before expanding to other cities and construction companies. Within the next year, Trayd is looking to close at least $1 million ARR and grow its user base to 150,000. While the construction industry only continues to grow, Trayd hopes to be a new payment platform that powers the backbone of an everlasting industry.

Today marks the first day of Women in Construction week. To celebrate, I am sharing a photo from the archives. Here is little Anna, four years old and operating a bulldozer :) Construction is in my blood. I have grown up in this world and have the deepest respect and appreciation for the men and women who wake up before the sun rises every day to build the world we get to live in. This week, we are shedding light on the women in construction - the bookkeepers, the machine operators, the site supervisors, the change makers. If there is one thing I’ve learned working in this space for the last few years, one should never underestimate the power of a woman to do big things. As content is shared this week, I urge you to read these women’s stories and listen to the highs and lows it took them to get them where they are. It’s impressive beyond. Wishing everyone a great week ahead. And this post goes out to little Anna, I hope I’ve made you proud so far! #womeninconstruction #wicweek2024 NAWIC Greater New York Chapter 240 Trayd