Exit to watch: Top startup LaborChart sells in a deal under construction for generations
October 22, 2021 | Startland News Staff
LaborChart, one of Kansas City’s leading startups, has sold to a California-based giant in construction management — a deal that proves hard work and determination pay off, its founder said.
Elevator pitch: LaborChart is a leading provider of workforce management software for the construction industry. The platform helps businesses manage employee scheduling, dispatching, forecasting and communication. Built from a unique blend of construction and software expertise, LaborChart helps contractors of all trades organize their largest and most valuable company asset — their workforce — into one secure and easy-to-manage platform.
• Founders: Ben Schultz, Hunter Browning
• Founding Year: 2015
• Amount Raised to Date: $7.05M
• Noteworthy Investors: Five Elms Capital and Perceptive Equity
• Programs Completed: Pipeline Entrepreneurs
• Current Employee Count: 30
The startup was sold to Procore Technologies, the companies announced Friday, noting in a release the deal is expected to further innovate the world of construction management.
“My family has been in the construction industry for four generations and I’m thrilled that all of our hard work has led to such a positive development,” Ben Schultz, LaborChart co-founder and CEO said in a Linkedin post celebrating the milestone.
“For too long, the construction industry has lacked technology to effectively manage people — its most important asset. I have worked on every construction site imaginable and too often bottlenecks occurred when labor was organized on spreadsheets and whiteboards.”
“We built LaborChart to overcome outdated workforce management processes. By teaming up with Procore, we’ll be able to further facilitate successful projects from start to finish, deepening the connection between the office and the field. Thank you to our customers and our team for making today possible. Our work is just getting started.”
Details of the acquisition were not disclosed.
“Labor is typically the highest and most variable cost for contractors, yet many still rely on spreadsheets and analog options like whiteboards to manage their workforces,” Procore said.
“LaborChart’s software provides a modern solution to these legacy processes and complements Procore’s existing solutions.”
More than 40 LaborChart employees have already joined the team at Procore. Its tools are expected to be slowly integrated into the company’s existing platform.
“LaborChart has been part of the Procore App marketplace for nearly a year and this is an exciting next step in integrating our companies to better serve our customers,” said Hunter Browning, co-founder and CTO of LaborChart, in a LinkedIn post. “We have spent years making LaborChart into what it is today and we couldn’t have done it without our amazing team and customers. We can’t wait for our next chapter, which will benefit the industry as a whole.”
Construction is facing a global labor shortage, with contractors struggling to find skilled workers, said Tooey Courtemanche, Procore founder and CEO.
“This makes it critical to efficiently manage existing workforces,” Courtemanche said. “With the addition of LaborChart, Procore will be able to provide a complete workforce management solution that helps contractors optimize their workforces, maximize productivity, and take on more projects. The days of relying on spreadsheets and whiteboards are over.”
LaborChart is Procore’s second startup purchase in recent weeks. The company announced plans to acquire New Orleans, Louisiana-based LevelSet for $500 million last month.
“The acquisition of LaborChart, along with our recently announced agreement to acquire Levelset, adds complementary insights to Procore’s robust construction industry dataset,” Courtemanche said.
“By combining project data, workforce data, and risk intelligence, customers can access a more complete view of the construction process that will help them build smarter.”
Click here to learn more about LaborChart, its presence in Kansas City and why it was named one of Startland News’ 10 Kansas City Startups to Watch in 2021.
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