Construction Contracts are for Everyone: With Latest Funding, Document Crunch Plans to Bring its Risk Review Tech Further into Project Teams

As an attorney for a large construction firm earlier in his career, Document Crunch co-founder and CEO Josh Levy recalls the ah-ha moment of seeing project managers lined up outside the glass doors of his office. Business was booming for the firm, generating an overwhelming volume of deals and contracts, along with key, risk-related questions from project personnel. 

Levy realized the need for a solution geared toward the non-lawyer that would parse and simplify critical terms and conditions in construction contracts.

“People had issues and questions every day and they all related to ‘How do I read this contract?’ and ‘What do we do in this situation? Who’s responsible?’” Levy said.

“I knew that if we could help them make better decisions, and then provide just-in-time insights at the moment a contract requires it, we could make the industry less risky,” he added, ensuring project teams stay within the bounds of the contract, and avoid liability or profit loss.

Now Document Crunch is preparing to scale its AI-driven capabilities further with a new round of funding. On Tuesday the company announced the close of a $9M Series A round led by Navitas, which has a well-known track record of scaling solutions in the industry. Zacua Ventures, Fifth Wall, Argonautic Ventures and Ironspring Ventures joined the round. Along with prior investment, that brings Document Crunch’s total funding raised to around $19M.

According to Document Crunch, the company tripled its revenue annually each of the past three years, with engagement on the platform increasing “exponentially” among general contractors and subcontractors. Document Crunch also reported increasing momentum with other construction stakeholders including sureties, insurance carriers, insurance brokers, design professionals, law firms and material suppliers.

Strategic partnerships, such as integrating with ProCore, and new AI features such as chat will allow project teams to take advantage of the company’s technology to manage risk around contract compliance and project management workflows.

“Managing risk is the name of the game in construction,” said Travis Putnam, managing partner at Navitas Capital, in a press release. “As construction tech veterans, we knew well the pain point Document Crunch was solving and were immediately impressed by the team’s traction as well as vision to build best in class AI for the industry, enabling contractors up and down the value chain to reduce risk, increase compliance and grow their bottom lines.”