Press Release (ePRNews.com) - NEW ORLEANS - Jan 04, 2018 - zlien, the world’s first and only collaboration-driven construction payment ecosystem, today announced a $10M Series B round of financing. The round was led by Austin-based S3 Ventures, with support by return backers Altos Ventures, Brick & Mortar Ventures and others.
zlien connects construction stakeholders and leverages millions of data records to make payment documentation and lien rights fast and easy. The construction industry has traditionally used attorneys and mounds of paperwork to sort out payment issues, but over 100,000 industry stakeholders have relied on zlien to promote better visibility, make payment paperwork and follow-up invisible and to make payments faster.
“The old way of doing business on a handshake no longer exists,” said Scott Wolfe, zlien’s CEO. “Today, contractors live under a pile of regulations and process requirements that slow down payments and strain relationships. Everyone wants good outcomes on a project and everyone hates liens, but so much red tape is in the way that bad outcomes happen too often. Contractors need to simplify and take a collaboration-driven approach to construction payment. They need to kill off liens and all of the complexity, and that is what we’re focused on at zlien.”
The zlien team is revolutionizing how construction stakeholders get paid and empowering better results for everyone. Their product provides an immediate ROI to suppliers, contractors and others by speeding up payment and creating efficiencies in an industry with notoriously long payment cycles. We are very impressed with the business zlien has built to date, and are excited to partner with them to make construction payment issues a thing of the past.
“The zlien team is revolutionizing how construction stakeholders get paid and empowering better results for everyone,” said Charlie Plauche from S3 Ventures, who will be joining the board as part of the financing. “Their product provides an immediate ROI to suppliers, contractors and others by speeding up payment and creating efficiencies in an industry with notoriously long payment cycles. We are very impressed with the business zlien has built to date, and are excited to partner with them to make construction payment issues a thing of the past.”
“The construction industry’s payment process presents significant challenges for everyone,” said Darren Bechtel, managing director of Brick & Mortar Ventures, who is investing in zlien for a third time. “zlien is making it easier for companies to see one another, communicate and trust one another, so that they get the job completed and do not have to worry about complex document exchanges.”
This latest investment brings zlien’s total funding to date to $16.7 million, which the company will use to fuel its continued rapid growth and to develop products solving more construction payment headaches. It plans to open a new office in Austin, Texas, and to hire more than 50 new team members across its New Orleans, Austin and Cairo, Egypt, locations.
To learn more about zlien and the collaborative-driven construction payment revolution, visit https://www.zlien.com/lienzero.
zlien, on a mission to kill liens, fix slow payments and eliminate bad outcomes, is the world’s first collaboration-driven construction payment ecosystem that completes job information and empowers contractors, suppliers and other industry stakeholders to always get what they’ve earned. Customers use zlien to easily exchange and collaborate around payment documents like lien waivers, pay applications and preliminary notices, and to complete the picture of who else is on their job, enabling better visibility, smooth paperwork exchanges and faster payments. For more information about zlien, visit www.zlien.com or call 866-720-5436.
About S3 Ventures:
S3 Ventures is an early, expansion and growth stage venture firm with $400M under management. We are focused on information technology solutions that solve large business problems. We also invest in medical devices that improve the human condition. S3 invests in category-defining opportunities. We partner with the team and help focus methodically on what it takes to build a successful company. www.s3vc.com