Skip to content Skip to sidebar Skip to footer Transforming how construction companies make payments

A Sioux City-based company is simplifying the way the construction companies disburse payments.

Launched in 2016, is a cloud-based construction payments platform which integrates with common accounting and project management software to facilitate the exchange of lien waivers, ACH payments, W9s, and 1099s.

“A friend of mine who works in the construction industry was talking about some of the challenges he faced in the disbursement process and so I decided to work with him to write a little bit of software to help out with that and it turned out that the software worked pretty well for his company,” said Geoff Arnold, CEO and co-founder of “I started asking around to other construction and construction-related companies and found out that this was an issue that a lot of companies were facing. So we decided to start a company to commercialize the product.”

Typically, completing lien waivers and mailing payments is a time-consuming process for people who work on the financial side of the construction business. is looking to change that by allowing contractors, lenders and title companies to utilize key features to speed up their construction disbursement process.

Finding the right pricing model

One of the biggest challenges has faced in its first two and half years is finding a price model that works for them.

“You’re trying to present very straight-forward pricing that’s easy to understand and digest, says Arnold. “But you also want it to scale so that as you’re working with customers, you’re making more money because you’re providing more value.”

Over the past two years, has tested many different pricing models over the past trying to present a straight-forward and fair pricing model that is also scalable.

“Ultimately, we feel pretty good about our pricing model now, but it’s still kind of a work in progress.”

Changing the construction industry with tailor-fit software

 “I don’t think the construction industry is old and archaic. I really don’t. I understand why people say that, but I just don’t feel that way,” says Arnold. “What I will say is that construction is still dominated by these large one-size-fits-all construction software packages. And what we’ve seen in other verticals is people choosing different software packages that work really well for their particular problems and then piecing those together using API to communicate between them. That way you’re really getting a custom solution to the way that you do business.”

That’s where comes in. By focusing purely on the disbursement side of things, allows companies to reduce the cost of their disbursement process without having to purchase a massive software package.

“We don’t try to do project management. We don’t try to do construction accounting,” says Arnold. “We purely say, when you’ve decided who you want to pay and how much you want to pay them, our software can automate all of that, which turns out to be a huge amount of work in construction.” Transforming how construction companies make payments | Clay & Milk
A central Iowa ag-tech accelerator has secured more backers and finally has a name. The Greater Des Moines Partnership first announced the accelerator last year, naming four initial investors. On Monday, the Partnership said the program will be called the "Iowa AgriTech Accelerator" and named three new investors. The new investors include Grinnell Mutual, Kent Corp. and Sukup Manufacturing, all Iowa companies. They join investors Deere & Co., Peoples Co., Farmers Mutual Hail Insurance Co. and DuPont Pioneer. Each investor has agreed to put up $100,000 for the first year of the accelerator. Startups entering the program will receive $40,000 in seed funding in exchange for 6 percent equity. Tej Dhawan, an angel investor and local startup mentor, is serving as interim director until the AgriTech Accelerator names a permanent leader. Dhawan held a similar role with the GIA before Brian Hemesath was named as managing director. As interim director, Dhawan said his main job includes hiring the accelerator's executive director, establishing a business structure and initial recruiting for the first cohort. The accelerator will place few filters, such as location and product, on the applicant pool, Dhawan said. "When you’re seeking innovation, innovation can come from every corner of the world so why restrict ourselves," he said. One area the the AgriTech Accelerator won't recruit from is biotech. For its first cohort, the AgriTech Accelerator will work out of the GIA's space in Des Moines' East Village, Dhawan said. A future, permanent home is still to be decided. The accelerator's program will host startups from mid-July through mid-October, ending with an event connected to the annual World Food Prize. The GIA, which the AgriTech Accelerator is based on, also ends with presentations at an industry event. The accelerator has also started lining up a mentor pool. The Iowa Corn Growers Association, Iowa Soybean Association and the Iowa Pork Producers Association have agreed to provide mentors, as has Iowa State University. While the AgriTech Accelerator is loosely based off of the GIA, it will differ in its business structure, Dhawan said. The GIA runs through a for-profit model for both operations and its investment fund. The AgriTech Accelerator will have a nonprofit model for its operations and a for-profit setup for its fund. Dhawan said the nonprofit model is being used so the accelerator can better work with other nonprofit partners, such as trade associations. "These are all organizations that are nonprofits and can be amazing stakeholders without ever having to be investors in the accelerator," he said. "It becomes easier to work with trade associations in their nonprofit role when we are also a nonprofit." When it's up and running, the AgriTech Accelerator would be one of a handful of ag-focused startup development programs in Iowa. Others include the Ag Startup Engine out of Iowa State University and the Rural Ventures Alliance from Iowa MicroLoan. Matthew Patane is the managing editor and co-founder of Clay & Milk. Send him an email at
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