Exactly one year ago, we shared our follow-on investment in Clearstory, the construction industry’s only change order communications tool. We are excited to do that once again today as Clearstory is announcing their Series B investment round.
When we first met Clearstory Founder & CEO Cameron Page, we were taken right away by his commitment to solving the change order problem in the construction industry—after he lived the problem, he was passionate about creating a solution that worked for all stakeholders involved. Since our initial investment and our follow-on last year, Cam and the entire Clearstory team have made significant strides in improving the product offering and expanding its customer base.
Now, Clearstory processes over 19,000 change orders valued at approximately $850 million every single month. Owners, general contractors, and specialty contractors of all shapes and sizes are using Clearstory to collaborate on the out-of-contract work inherent in every project. Clearstory’s suite of tools currently includes digital T&M tickets, a cloud-based real-time change order log, as well as the ability to distribute pricing requests. And just last week, Clearstory launched a new Contractor Insights feature that allows a quick, accurate view of all change order data for a single project—saving project leaders both time and money. Indeed, Clearstory accomplished a lot in just a year, and it is now the construction industry’s change order network platform. We can’t wait to see what the future holds for Cam and the team.
CEO Cameron Page presents with Ryan Crist of PCI, a Clearstory customer at our Building Ventures Innovator’s Network Summit in October 2022 in Boston.
At Building Ventures, a core component of our approach to investing is a commitment to our portfolio companies throughout their lifecycle. We’re thrilled to continue to support Cam and the entire Clearstory team with this pivotal raise. With this new round of funding, the company will accelerate product advancement, grow the team, and support new key customers.
The Clearstory mission to reduce risk and increase transparency in construction continues, now with more fuel in the tank to make it happen at the next level. Clearstory’s $16 million Series B is led by Prudence Ventures, and we’re excited to extend a warm welcome to the Prudence team. We also look forward to working with new investors Industry Ventures, as well as continuing to collaborate with all existing investors, including Jackson Square Ventures, GS Futures, and Cloud Apps Capital Partners. You can read coverage of the deal in Commercial Observer, and learn more about Clearstory’s mission here.
