Workyard Analysis: $10M Raised
What is Workyard?
Workyard specializes in construction workforce management software that streamlines payroll and project management. Their unique approach integrates GPS tracking and automated timekeeping to enhance accuracy and compliance. This results in significant cost savings and improved operational efficiency for construction companies.
Location
San Francisco, United States
Employees
11-50
Founded
2015
Industry
SaaS, Hrtech
Funding Category
Seed
Latest Funding Round Size
Series A
Parent Company Website
Public Company Status
Private
Recent Venture Round Amount
$6,050,000
Website Url
Product Features & Capabilities
- GPS time clock app for accurate time tracking
- Job management tools for real-time project tracking
- Smart forms for replacing paper workflows
- Expense management with integrated cards
- Accounting sync for seamless payroll integration.
Pricing
Workyard's pricing model for construction payroll services includes a base fee of $50 per month for the company, plus an additional $8 per user per month for time tracking services. For workforce management, the cost is $16 per user per month, also with the $50 company base fee. They offer a free 14-day trial for new users.
How much Workyard raised
Series A - A$6,050,000
January 2020Lead Investor: MHS Capital, Greenspring Associates, Blackbird Ventures
Seed - S$2,800,000
December 2017Lead Investor: MHS Capital, Blackbird Ventures
Seed - S$1,000,000
July 2016Lead Investor: Nick Crocker, Bardia Housman, Sandy Kory
Customer Success Story
Customer reviews and testimonials about Workyard's construction payroll service indicate a high level of customer satisfaction. The service is praised for its ease of use, accurate time tracking, and effective cost management. Users have reported significant savings, with one customer noting a potential saving of $2,500 in inflated payroll costs due to improved tracking of actual arrival times. The software's mobile app and GPS tracking features are highlighted as particularly beneficial for construction firms, allowing for precise labor cost calculations and project profitability. Overall, Workyard has received an average rating of around 4.7 out of 5 across various review platforms, with users appreciating the streamlined payroll process and the ability to easily report hours. Customer support is also frequently mentioned as responsive and helpful, resolving issues promptly.
Other Considerations
Trusted by over 50,000 workers; Offers a 14-day free trial; Provides US-based customer support in English and Spanish.
Key Features
- GPS Time Clock: Allows employees to clock in and out using their mobile devices, ensuring accurate time tracking based on location.
- Job Tracking: Enables tracking of time spent on specific jobs, helping to manage labor costs effectively.
- Reporting: Provides detailed reports on time and attendance, job costs, and labor compliance to aid in decision-making.
- Integrations: Seamlessly integrates with other software tools for payroll and accounting, streamlining the payroll process.
- Construction Time Tracking: Offers features specifically designed for the construction industry, including tracking hours worked on-site.
- Scheduling: Facilitates job scheduling to ensure that the right crew is assigned to the right job at the right time.
- Job Costing: Helps in calculating the costs associated with each job, allowing for better budget management.
- Labor Compliance: Assists in maintaining compliance with labor laws to protect the business from disputes.
Target Clients
Workyard primarily targets construction companies and tradespeople, including specialty contractors, general contractors, HVAC, electrical, plumbing, roofing, and cleaning service providers. Their services are designed to help these clients save time, protect profits, and increase crew accountability through automated solutions for accurate time tracking, job scheduling, cost management, and labor compliance. The platform is trusted by over 50,000 workers in these industries, indicating a strong focus on the construction and service sectors.
