RedTeam offers a cloud-based construction project and accounting management platform designed to enable collaborative workflows and real-time updates across project stages. The product was originally developed by a commercial general contractor to address practical field needs and emphasizes an intuitive social design interface. RedTeam has accelerated the rollout of digital collaboration features to help customers adapt to the COVID-19 pandemic. The company is used by more than 500 general contractors to manage a collective $3 billion of work in progress and achieved a three-year compound annual growth rate of 160%, landing on the Inc. 5000 list. The $5 million investment announced from JettyCove will be used to deliver new features and increase the company’s visibility within the commercial construction industry. RedTeam is based in Orlando, Fla. RedTeam provides a comprehensive cloud-native platform for commercial construction project and accounting management, enabling teams to create and share contract documents, post updates, upload photos and monitor performance. The platform is designed to be scalable for small and medium businesses while also serving companies with hundreds of millions in annual revenue. More than 500 construction companies currently manage projects with RedTeam software. The company is in the second expansion phase of its Orlando office and plans to add 20 local jobs over the next year. The recent capital infusion is intended to support hiring, product enhancements and geographic/product expansions. No revenue or other financial terms were disclosed in the articles.

Total raised

$5M

Funding rounds

2

Latest round

Equity

Latest activity

Sep 2020