PayShepherd provides a cloud-based contractor management platform purpose-built for heavy industrial sites, automating contract compliance and enabling real-time cost reporting, accountability, and risk management. The company centralizes contractor data to replace paper-heavy administrative processes and to surface efficiencies across procurement, maintenance, and capital projects. Since launching in 2018 it has managed billions in contractor cost submissions and has entered energy and mining markets. PayShepherd plans to expand across Canada and the United States and to enhance its platform with new capabilities, including deeper use of artificial intelligence. Its product roadmap emphasizes building a comprehensive, frictionless system of record between contractors and clients. Financially, PayShepherd has grown since its 2022 seed and has now raised C$12.1 million in equity financing to date. PayShepherd provides a billing management and contract-assurance platform that automates billing review, validates contract and collective agreement logic, and identifies invoice discrepancies across labour, equipment, materials and third‑party expenses. The platform runs historical audits, works with multiple contractors simultaneously, and has benchmarked savings in excess of US$1M yearly per major facility. PayShepherd’s validation engine serves as a digital source of truth to reduce overspending, speed payments, and improve facility–contractor relationships. The company says its software increases visibility and accountability, enabling closer alignment to strategic goals and faster, more accurate payments. PayShepherd was founded in 2018 and is headquartered in Calgary, Canada, with offices in Vancouver and Charlotte, North Carolina. The new funding will support expanded product and engineering capabilities, stronger operations across Canada and the U.S., new verticals, and additional ecosystem integrations. PayShepherd is a Calgary-based fintech that provides contractor billing software to help large industrial facilities manage contractor billing. Its platform captures high-volume contracts and timesheets, detects overbilling, and makes contract history transparent for facility owners and contractors. Founded in 2018 as Project Recapture, the company’s current customers include multinational conglomerates with dozens of facilities across Canada, the US and Europe. PayShepherd plans to use the $700,000 CAD pre-seed to boost sales and business development, bolster its product, and add customers across Canada and the United States. The startup has grown headcount from three to eight employees, is hiring two more software engineers, and aims to expand across North America and add at least 20 more facility clients over the next 18 months. Longer-term plans include offering invoice financing for contractors and delivering aggregate spending-data insights to the heavy-industry market.

Total raised

$9M

Funding rounds

3

Latest round

Seed

Latest activity

Mar 2024