Miter Raises $40M for Construction AI

Miter has raised a $40 million Series B as construction becomes another large vertical market where AI startups are trying to replace fragmented legacy software.

What happened

The company raised $40 million, led by Battery Ventures, with Bessemer Venture Partners and Coatue also participating.

Total capital raised now stands at $78 million.

Miter combines payroll, workforce management, job costing, expenses and compliance for construction companies.

It is also adding AI automation for workflows such as invoice processing and field reporting.

Why it matters

Construction businesses often rely on separate systems for payroll, compliance, project costing and workforce coordination.

That fragmentation creates duplicated work and makes it harder to automate processes across the whole company.

Miter is trying to consolidate those workflows into one operating platform and then use AI on top of the shared data.

The bigger picture

Vertical software remains one of the strongest routes for AI adoption because industry-specific workflows are difficult for generic assistants to understand deeply.

The opportunity is not simply to add an AI chat box to existing construction software.

It is to rebuild the operational stack around automation, shared data and agentic workflows.

Miter's round suggests investors continue to see large upside in industries where software penetration is still uneven and administrative work remains highly manual.