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- Trayd Raises $4.5M to Revolutionize Construction Payroll
Trayd Raises $4.5M to Revolutionize Construction Payroll
Slice of Construction Team
February 05, 2025
Key Highlights:
Trayd secures $4.5M seed funding led by Suffolk Technologies, with participation from Bloomberg Beta and Y Combinator.
Trayd automates payroll, scheduling, and HR for specialty contractors, addressing inefficiencies in a $2T industry.
Funds will support product innovation, team expansion, and scaling to meet the growing market demand.
Strong traction with union and non-union contractors, including Century Drywall, a 600-person drywall contractor.
Trayd’s advanced payroll compliance tools help contractors participate in large-scale, federally-funded projects.
Source: Business Wire
Notable Quotes:
“We are thrilled to announce this milestone. Trayd is the first platform of its kind, and every day, I have the privilege of watching contractors finally see a purpose-built software made just for them.”
“When our trade partners operate at peak efficiency, it elevates the entire construction ecosystem and enables our project teams to build better and smarter.”
Why This Matters:
The construction industry, despite being a $2T market, has long struggled with outdated payroll and workforce management processes. Trayd’s all-in-one back-office solution centralizes payroll, HR, scheduling, and compliance for specialty contractors, streamlining operations and eliminating inefficiencies caused by siloed systems. This funding round accelerates Trayd’s mission to modernize payroll processing and compliance management, making it easier for contractors to focus on building rather than administrative burdens.