SAN FRANCISCO–(BUSINESS WIRE)–Sverica Capital Management LP (“Sverica”), a private equity investment firm, announced today that it has made a strategic growth investment in Raken (“Raken” or the “Company”).
Based in Carlsbad, California, Raken is a field management software provider to the construction industry focused on streamlining reporting and project oversight. The Company’s platform includes features such as daily progress reporting, time and production tracking, safety and quality management, as well as workforce management. Raken serves over 4,500 construction firms, subcontractors, and general contractors.
“This new chapter with Sverica represents an exciting milestone for Raken,” said Ty Kalklosch, CEO of Raken. “Their experience supporting high-growth software companies will help us continue to serve our customers’ expanding needs, build innovative new solutions, and broaden our field management platform for the construction industry.” Kalklosch will continue to lead the Company, while Jordan Richards, Managing Partner at Sverica, and Michael Dougherty, Principal at Sverica, will join Raken’s Board as part of the transaction.
“Raken has built an impressive platform that solves real problems for construction professionals,” said Jordan Richards, Managing Partner at Sverica. “We are excited to partner with Ty and the talented Raken management team as we reinvest back into the company, launch new product features and ultimately aspire to lead the category.”
Michael Dougherty, Principal at Sverica, added, “Raken is helping contractors automate key workflows and digitize what have historically been processes managed with pen and paper. The market opportunity and the team’s vision for the product are compelling.”
About Raken
Raken is a leading field-first construction management platform. With over 70,000 users, Raken’s easy-to-use app is built to streamline all critical field workflows – from daily reports, to time and production tracking, resource scheduling, safety management, RFIs and more. Real-time information flows from field to office so teams stay aligned, data becomes more reliable, and decision making improves. Raken’s simple mobile experience, powerful integrations, and industry-leading support, help contractors save time and money, reduce risk, and keep projects on track. For more information, visit https://www.rakenapp.com/.
About Sverica Capital Management
Sverica Capital Management is a leading growth-oriented private equity firm that has cumulative committed capital of $2.2 Billion since inception. The firm acquires, invests in and actively builds companies that are, or could become, leaders in their industries. Since inception, Sverica has followed a “business builder” approach to investing and takes an active supporting role in its portfolio companies. Sverica devotes significant internal time and resources to help its management teams develop and execute growth strategies and proactively looks for levers to pull to accelerate growth by reinvesting back into those companies. Sverica firmly believes in building businesses collaboratively that can endure for the long term by starting with a strong foundation and bringing the right people and playbook to drive reinvestment and ultimately strong returns for our investors.
For more information, please visit www.sverica.com.
Contacts
Media Inquiries:
Nathalie Allen
Sverica Capital Management
(415) 249-4906
[email protected]
