Clearstory.build

Overview

Clearstory.build is a dynamic technology company that specializes in streamlining change order communications in the construction industry. Founded by Cameron Page, the company's headquarters is located in Walnut Creek, California. Clearstory focuses on creating software solutions that enhance project management efficiency by automating the change order process, reducing administrative burden, and fostering better collaboration among contractors. As of November 2024, the company has garnered significant financial backing from notable investors, including Building Ventures, Jackson Square Ventures, and Cloud Apps Capital Partners, raising a total of $35 million in funding.

Recent Developments

  • June 2024: Clearstory secured $16 million in a Series B funding round led by Prudence, with participation from Industry Ventures and several existing investors, raising its total funds to $35 million.
  • Clearstory has enhanced its platform features to provide more streamlined communication capabilities. The introduction of a new Contractor Insights feature allows project leaders a quick, accurate view of all change order data, promoting faster decision-making and project management.
  • 2023-2024: Building Ventures and other investors continue to support Clearstory's mission by investing more in its growth. The company has expanded its integration capabilities, now interfacing with major project management solutions like Procore, Autodesk, and PlanGrid.
  • August 2023: Clearstory completed the acquisition of DataStreet to further enhance the customer experience and strengthen its market position as a comprehensive change order communication tool.
  • Clearstory's platform continues to be recognized for its ease of use, bolstered by seamless integrations that reduce the time and effort involved in processing change orders. The platform is designed to mitigate financial risks and optimize the documentation workflow in construction projects.

Company Information

AttributeInformation
Founding Date2018 (as Extracker)
HeadquartersWalnut Creek, California, United States
FounderCameron Page
RevenueApproximately $2.2 million (2022)
ProfitsNot publicly disclosed
Key InvestorsBuilding Ventures, Jackson Square Ventures, Cloud Apps Capital Partners
IndustryConstruction Technology
Number of EmployeesNot explicitly disclosed, small team

Early History

Clearstory began its operations under the name Extracker. The company's initial focus was on alleviating common inefficiencies within the construction industry, primarily dealing with change order management. Cameron Page, leveraging his extensive experience as a project manager at a leading design-build GC, co-founded the company with the vision to enhance communication around project changes. The initial product provided a digital platform for tracking and sharing out-of-contract work, significantly reducing risk and improving the flow of information. The early focus on creating a collaborative digital environment soon attracted attention within the construction industry, allowing Clearstory to scale its operations and develop a robust suite of tools for contractors and project managers.

Company Profile and Achievements

Clearstory has established itself as the leading change order communication tool in the construction industry. Notable achievements and milestones include:

  • 2018: Officially launched as Extracker, offering digital solutions that transform how contractors collaborate on change orders.
  • 2020-2023: Gained significant traction among contractors due to its seamless integrations and automation capabilities, securing a significant user base and high customer satisfaction ratings.
  • 2023: Changed its brand name to Clearstory to reflect the mission of providing transparency and streamlined communication.
  • Acquisition of DataStreet (2023): Expanded its platform capabilities to offer more comprehensive solutions and user experiences.
  • Clearstory’s platforms manage approximately 19,000 change orders monthly, valued at approximately $850 million.

Current Operations and Market Position

Clearstory.build currently operates as a crucial communication tool for managing project changes. Its change order communication platform facilitates real-time collaboration among General Contractors, Specialty Contractors, and Project Owners. This cloud-based system integrates with leading construction software platforms, allowing users to efficiently track, manage, and approve project changes. As market leaders, Clearstory continues to advance the efficiency of construction project management, offering tools that reduce administrative tasks and foster financial clarity. Clearstory's position in the market is solidified by its user-centric design, focusing on reducing financial exposure and providing complete visibility for project stakeholders.

Conclusion

Clearstory, originally founded as Extracker, has become an influential entity in the construction sector. Its emphasis on transparent communication and automation of change order processes marks it as a pioneer in optimizing construction workflows. The firm's consistent funding and development endeavors indicate a promising trajectory of sustained growth and expanded market influence. As Clearstory continues to innovate, it is poised to redefine industry standards and shape the future of construction management technology.

References

  1. Clearstory Official Website
  2. Crunchbase Profile
  3. Medium - GS Futures Blog on Clearstory
  4. Building Ventures Investment Page
  5. Construction Dive - Funding Announcement