Trayd has successfully secured $10 million in a Series A funding round, increasing its total funding to $17 million. This round was led by White Star Capital and completed in just three weeks, attracting participation from Y Combinator, Suffolk Technologies, and new investor RXR Realty.
The startup focuses on developing a back office operating system tailored for the construction industry, specifically serving specialty trade contractors. This segment of the industry includes skilled laborers such as electricians, plumbers, and concrete crews, who conduct the physical work on construction sites.
Trayd's platform aims to streamline payroll, HR, compliance, and labor cost management, significantly reducing the time contractors spend on these tasks. According to CEO Anna Berger, processes that previously took 14 hours can now be completed in under 30 minutes. The company, founded in 2021 by Berger and CTO Cara Kessler, seeks to address a gap in construction technology that primarily caters to general contractors, leaving specialty trades underserved.