Document Crunch Raises $21.5M Series B to Revolutionize Construction Contract Compliance
Document Crunch, a startup focused on streamlining contract compliance in the construction industry, announced today it has raised $21.5 million in a Series B funding round. The round was led by Titanium Ventures, with participation from existing investors, including Nemetschek Group, Andres Construction, Satterfield & Pontikes, Navitas Capital, Zacua Ventures, Fifth Wall, and Ironspring Ventures. With this new round of funding, Yash Patel, General Partner at Titanium Ventures, will join the company’s board of directors.
In a $13 trillion global construction industry, contract compliance remains a significant issue. The U.S. construction sector alone faces over $11 billion in annual profit losses due to risks buried within complex contracts and project documents. Document Crunch's AI-powered platform simplifies these contracts for project teams in the field, helping them understand and comply with terms, ultimately reducing the risk of disputes and improving profitability.
"We’ve made great progress expanding our platform to meet the everyday needs of project teams," said Josh Levy, CEO and Co-founder of Document Crunch. "Our goal is to dive even deeper into the documents and workflows that introduce risk into construction projects, ensuring that everyone can easily understand and comply with their contracts.” Initially launched in 2019 as a contract review tool for legal and risk teams, Document Crunch has since evolved into a comprehensive solution used by project teams across thousands of construction sites nationwide.
The latest funding round comes on the heels of a $9 million Series A completed in February 2024, which allowed Document Crunch to expand its platform with AI-powered workflows for contract administration. With this Series B, the company plans to further develop its product offerings and expand its reach. Partnerships with key industry players like Procore and Nemetschek Group have positioned Document Crunch as the construction industry’s first end-to-end document compliance platform.
"Contract compliance is essential for avoiding costly delays and budget overruns in construction projects," said Yash Patel of Titanium Ventures. "Document Crunch’s innovative use of AI, combined with deep domain expertise and a dedicated customer base, sets them up to make a significant impact in the sector." Document Crunch counts major industry names such as Balfour Beatty, The Boldt Company, and PCL Construction among its clients, solidifying its role as a trusted partner in the construction industry.
The company’s partnerships with construction tech leaders like Procore and strategic investors like Nemetschek Group provide it with a competitive edge in the market. Nemetschek’s SVP of Strategy, Matt Wheelis, highlighted the potential of AI-powered solutions in construction, noting that Document Crunch's focus on contract compliance complements Nemetschek’s innovations in design reviews and construction documentation.
With this new injection of capital, Document Crunch is poised to deepen its platform's capabilities, expand its market presence, and continue to drive innovation in the construction industry’s approach to contract compliance. The company aims to revolutionize how construction teams manage contracts, reduce risk, and enhance project outcomes.
