acquired by Built Technologies

Sioux City-based announced this week that it has been acquired by Nashville-based construction finance software company Built Technologies.

Launched in 2015, is a cloud-based construction payments platform that integrates with common accounting and project management software to facilitate the exchange of lien waivers, ACH payments, W9s and 1099s.

“Since we launched in 2015, we’ve been laser focused on increasing efficiencies and trust in the construction payment process,” said CEO Geoff Arnold in a statement. “Joining Built will allow us to link two areas of the construction finance process that have never been linked before and accelerate innovation and growth.”

With this acquisition, Built Technologies will create a new division, Built for Contractors, led by Arnold. The division will focus on developing innovative solutions to help commercial real estate owners, commercial general contractors, residential homebuilders, specialty contractors, title companies and lenders manage the construction payment process.

The platform will be the first product focus of the Built for Contractors division under a new name, Lienwaivers powered by Built.

Financial terms of the deal were not disclosed.

Previous coverage is transforming how construction companies make payments –June 13, 2018

Clay & Milk has reached out to for more information and will update this story when we hear back.