Riskcast Solutions, a graduate of NVP Labs’ spring 2019 cohort, plans to stay in Newark for the long haul, Alec Thomson, co-founder and CEO, told NJTechWeekly.com in a recent interview. The startup, which specializes in eliminating paper-based processes for the construction industry, recently closed a $600,000 pre-seed convertible note investment round led by Newark Venture Partners. Scopus Ventures, an international early-stage venture capital firm that is headquartered in Los Angeles, also participated in the round, as did two individuals.

ROI: Riskcast Solutions gets $600K pre-seed round, plans to call Newark home

June 17, 2020

The following is a feature of Riskcast Solutions by ROI. Read the full story here.

Riskcast Solutions, a graduate of NVP Labs’ spring 2019 cohort, plans to stay in Newark for the long haul, Alec Thomson, co-founder and CEO, told NJTechWeekly.com in a recent interview.

The startup, which specializes in eliminating paper-based processes for the construction industry, recently closed a $600,000 pre-seed convertible note investment round led by Newark Venture Partners. Scopus Ventures, an international early-stage venture capital firm that is headquartered in Los Angeles, also participated in the round, as did two individuals.

Riskcast offers tradesmen and -women a single, easy-to-use platform for entering all their daily information, such as man hours, production quantities, notes, daily logs and delivery tickets, the company said in a news release. The system provides foremen and superintendents with real-time data. Job-site management is now able to track costs, productivity and trends, while identifying successes and areas in need of improvement on an ongoing and immediate basis.

Companies have been replacing timecards and daily logs over the past few years, but Riskcast is the first tech startup to deliver a unified platform specifically designed for construction crews, the company claims. The platform is designed to help teams start quickly and grow into full functionality when they’re ready, the company said.