Construction tech firm PayShepherd raises $7M for contractor, vender management platform

CALGARY, ALTA. – PayShepherd, a Calgary-based technology company specializing in digital contractor management solutions for industrial facilities, has closed $7 million in funding.

The funding is intended to modernize and simplify the process of contractor and vendor management for operators across North America, a PayShepherd release said.

“Contractor management at construction sites is often a time-consuming, manual process mostly done with paperwork. Their high-intensity environment also leads to operational blindspots like billing discrepancies or missed compliance reviews, causing overspending or strained relationships with vendors,” the release said.

PayShepherd launched in 2018 and has since assisted North American facilities avoid US$1 million in overspending, the release said, adding “on average, PayShepherd saves them 60 hours per week, equal to 3,120 hours or 375 workdays per year–time that can instead be redirected to high-impact work.”