Austin based construction finance platform has raised $8m in Series A funding with participation from Goldman Sachs, QED, and Camber Creek.
Through its platform, Rabbet aims to bring efficiency, accuracy, and visibility to the construction finance industry. Its platform relies on machine learning to organize documents and connect information to enable instant compliance and faster decision making for lenders and developers in the real estate market. Rabbet said that with the new funding the company, which used to go by Contract Simply, will invest in the development of its automation platform, expand its service offerings and to cultivate partnerships with construction lenders and developers. The funding will also go to support its effort to expand its software engineering and sales teams located in Austin, Texas.