Trayd, a construction tech startup specialising in union payroll software, has raised $17 million in funding led by Y Combinator, Suffolk Technologies and RXR. The company's software automates payroll, HR, compliance and labour cost tracking for specialty contractors working with unionised labour. In heavily unionised US states like New York, California and Massachusetts, construction workers can earn up to four different payroll rates in a single day depending on trade category and location. Trayd's system reduces what previously took 14 hours of manual work to under 30 minutes, according to co-founder Anna Berger. The software also helps companies document eligibility for energy tax incentives through prevailing wage and apprenticeship compliance, and enables construction firms to claim expanded R&D tax credits under recent legislation.

Trayd, a New York-based startup building back-office software for specialty trade contractors, has raised $10 million in Series A funding in just three weeks. White Star Capital led the round, with participation from Y Combinator, Suffolk Technologies and new backer RXR Realty, bringing total funding to $17 million. Founded in 2021 by CEO Anna Berger and CTO Cara Kessler, Trayd automates payroll, HR and compliance for construction specialty trades like electricians and plumbers. The platform handles complex variable pay rates, union rules and multistate taxes, reducing weekly payroll processing time from 14 hours to under 30 minutes. The company has grown revenue over 600% year-over-year and processes tens of millions in weekly payroll for several hundred contractors. Trayd operates on a SaaS model and is expanding nationally from its Northeast base.