Construction workers use a field-management app for daily reports, time tracking and safety on site.
Carlsbad, California, September 12, 2025
A private equity firm has completed a majority growth investment in a Carlsbad-based construction field-management software provider that serves more than 4,500 firms and over 70,000 users across North America. The deal injects capital and operational support to expand product capabilities—like daily reports, time cards and safety management—while accelerating sales and customer success. The incumbent CEO will remain in place and two representatives from the investor will join the board. The funding is intended to broaden integrations, speed enterprise adoption and continue supporting small contractors with a field-first mobile experience.
SAN FRANCISCO–(BUSINESS WIRE)– represents the dateline accompanying a recent investment announcement describing a majority growth investment in Raken by Sverica Capital Management. The move positions Raken, a mobile and web-based construction field-management platform, to accelerate expansion as it serves general contractors, subcontractors, and specialty contractors across North America. The investment underscores a growing trend in the construction software sector as firms pursue digital transformation to streamline field operations and reporting.
Raken’s platform is used by more than 4,500 construction firms and supports a user base of over 70,000 professionals. The core products include Daily Reports, Time Cards, and Safety Management, designed to digitize field documentation, track labor hours, and manage safety workflows. Beyond these staples, the platform provides resource scheduling, project insights, and real-time communication between the field and office, offering a more complete view of progress and risk across projects. In total, the press materials describe capabilities that cover daily progress reporting, time and production tracking, safety and quality management, and workforce management, all within a field-first, easy-to-use mobile experience.
The investment is described as a strategic move that will see Sverica reinvest back into the company and partner with Raken to launch new product features. Raken’s leadership structure will stay intact, with Ty Kalklosch continuing as CEO and the founder, Brett Telenko, continuing to guide the company’s vision. In connection with the deal, Sverica’s Jordan Richards and Michael Dougherty are slated to join Raken’s Board, signaling a hands-on approach to accelerating growth and product development. The arrangement reflects Sverica’s business builder philosophy, which centers on supporting management teams with the right resources and guidance to scale operations over time.
Raken is headquartered in Carlsbad, California, a community described as being near San Diego. The company was founded in 2013 and has built a platform that emphasizes real-time information flow from the field to the office, helping teams stay aligned and improve data reliability. The platform’s ability to shorten decision cycles and reduce risk in live projects is a central theme in the rollout of the investment, with the aim of expanding both the customer base and the feature set to meet expanding demand in a market shifting toward integrated platforms rather than standalone tools.
Industry observers point to a rapid growth trajectory in the construction software sector as the industry pursues digital transformation. Market data from a widely cited source notes that more than $50 billion was invested in AEC tech between 2020 and 2022, reflecting an 85% jump from the prior three-year period. A large share of surveyed respondents also indicated plans to maintain or grow their investments in AEC technology. The sector’s growth is driven by factors such as labor shortages, rising infrastructure demand, and increasing expectations for transparency and accountability on projects.
Industry dynamics describe the shift from point tools to broader platforms that blend scheduling, productivity, safety, and compliance. A push for greater interoperability among systems is a recurring theme, even as adoption challenges persist for smaller firms with limited IT resources, reliance on manual workflows, and fragmented ecosystems. As the market evolves toward enterprise-wide rollouts, there is an expectation of measurable operational gains and the emergence of new revenue streams for developers who can deliver integrated solutions.
Sverica describes itself as investing in North American companies with EBITDA under $20 million and an enterprise value under $250 million, with a focus on technology, software, healthcare, and business services. The firm’s sixth fund, Sverica Capital Partners VI LP, closed in March 2023 with $750 million, bringing cumulative committed capital to roughly $2.2 billion since inception. Sverica characterizes its approach as business building, dedicating internal time and resources to help management teams craft growth strategies, identify levers to accelerate expansion, and reinvest in portfolio companies to sustain long-term value creation. In the Raken transaction, Sverica emphasizes active support for product development and market expansion as part of a broader reinvestment plan.
Raken’s leadership team, alongside Sverica’s operational approach, aims to broaden the platform’s capabilities and broaden its reach within the construction industry. The aim is to improve data reliability and speed, support more complex project workflows, and ultimately help customers complete projects on time and within budget.
| Feature | Description |
|---|---|
| Raken platform | Mobile and web construction field-management software for reporting, scheduling, safety, and workforce management. |
| Core modules | Daily Reports, Time Cards, Safety Management with real-time field-to-office communication. |
| User base | Used by 4,500+ firms and 70,000+ users across North America. |
| Investment type | Majority growth investment by Sverica with reinvestment and product expansion. |
| Leadership & governance | CEO Ty Kalklosch remains; Sverica executives join the Board to guide growth and strategy. |
| Sverica profile | $750M Fund VI with $2.2B cumulative capital; focuses on technology, software, and services in North America. |
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