The construction industry is built on steel, sweat, and deadlines that don’t wait for anyone. But today, it’s not enough to just swing the hammer; you need data that moves as fast as the work. That’s where Raken has carved out its lane, and now it’s about to widen that highway. On September 9, 2025, the Carlsbad-based field management platform announced a majority growth investment from Sverica Capital Management, a firm with $2.2 billion across six funds and a reputation for spotting category leaders before everyone else.
This isn’t a check written for buzz. It’s a bet placed on a decade of real execution. Founded in 2012 by Kyle Slager and Sergey Sundukovskiy, Raken started as a way to clean up the daily chaos of job sites. Instead of endless paper reports shoved into filing cabinets, Raken digitized the process, time cards, toolbox talks, photos, production tracking, safety logs, collected in real time through a mobile-first app that syncs straight to the office. The result? Field workers spend less time pushing pencils, and contractors get insights fast enough to actually change outcomes.
The leadership story matters here. Ty Kalklosch, who proved at Paylease that he could scale revenue into nine figures, took over as CEO in 2020. He’s been steering growth ever since, with Slager stepping into a board role to keep the founder’s DNA alive. Sundukovskiy, the technologist who helped architect the platform before moving to Certemy, left behind code and vision that still anchors the product. Today, Raken’s 141-person team supports over 70,000 users across more than 200,000 projects, serving 4,000-plus construction firms in all 50 states and 89 countries. Heavy hitters like Clark Construction, AECOM, Skanska, Whiting-Turner, and Hensel Phelps are in the customer base.
The growth isn’t abstract. Revenue jumped from $9 million in 2021 to $14.1 million in 2023, then surged to $21.8 million in 2024, with some sources pegging it above $25 million. That’s not a spike; that’s consistency. It’s why Sverica stepped in, adding Managing Partner Jordan Richards and Principal Michael Dougherty to Raken’s board. Piper Sandler advised Raken, while Shea & Company advised Sverica, underscoring the seriousness of this move.
So what’s next? Expansion into new markets. More product depth, from scheduling to safety to workforce management. A bigger push internationally, where pen and paper still run too many job sites. With the construction software market projected to hit nearly $9 billion by 2034, the timing feels precise.
The lesson for anyone watching is sharp: investors don’t chase hype; they chase traction. Raken built it, contractors used it, and now Sverica is backing it to scale it. Congratulations to Ty Kalklosch and Kyle Slager, and Sverica Capital Management. This foundation is set, and the structure being built on top looks like it’s going to change skylines.
