What is Rivet Work?
Rivet Work provides a comprehensive, first-of-its-kind tool designed for commercial and industrial contractors. Its platform integrates labor forecasting, scheduling, dispatch, field management, and actuals tracking with equipment utilization. By optimizing labor planning and dispatch, and enhancing the utilization of critical company assets, Rivet Work aims to help contractors navigate rising operational costs and address the persistent labor shortage, thereby improving efficiency and profitability.
How much funding has Rivet Work raised?
Rivet Work has raised a total of $11.6M across 2 funding rounds:
Angel/Seed
$5.6M
Other Financing Round
$6M
Angel/Seed (2023): $5.6M with participation from Augment Ventures, Defy Ventures, and Detroit Venture Partners
Other Financing Round (2024): $6M led by Michigan Rise Pre-Seed Investment Fund, Brick & Mortar Commercial, Augment Ventures, and Defy
Key Investors in Rivet Work
Augment Ventures
Augment Ventures is an investment firm focused on transforming foundational industries through AI-driven solutions. They partner with visionary founders, providing strategic support, capital, and industry expertise to help build market-defining companies.
Defy Ventures
Defy Ventures, Inc. is a social enterprise that provides entrepreneurial training programs aimed at helping formerly incarcerated individuals reintegrate into society and achieve economic independence.
Michigan Rise Pre-Seed Investment Fund
Michigan Rise Pre-Seed Fund III is dedicated to supporting the growth of Michigan-based technology startups by providing early-stage venture funding. In collaboration with the MSU Research Foundation and the Michigan Economic Development Corporation, the fund connects founders with essential resources and strategic guidance.
What's next for Rivet Work?
The substantial enterprise-level funding and recent strategic investment signal a pivotal growth phase for Rivet Work. This capital infusion is expected to accelerate product development, expand market reach, and enhance operational capabilities. The company is strategically positioned to further solidify its leadership in providing essential technology solutions for the construction industry, addressing key challenges related to labor management and asset optimization.
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