Rabbet is an intelligent construction finance platform that uses machine learning to parse documents and connect information to reduce administrative burden, ensure compliance, and speed decision-making for real estate lenders and developers. The platform brings efficiency, accuracy and visibility to construction finance and has been applied to projects sized up to $150 million coast-to-coast. Founded in 2017 and accelerated with Y Combinator, Rabbet was formerly known as Contract Simply. With the new funding, the company plans to continue investing in its automation platform, expand service offerings, cultivate partnerships with construction lenders and developers, and grow its software engineering and sales teams in Austin. Management frames the market as a $21 billion opportunity and positions Rabbet to enable faster payments and improved customer experience through intelligent automation. Rabbet is venture-backed and has closed an $8 million Series A led by Goldman Sachs’ Principal Strategic Investments with participation from QED Investors and Camber Creek.

Total raised

$8M

Funding rounds

1

Latest round

Series A

Latest activity

Feb 2019