Trayd

Trayd is a B2B company that has developed a back-office operating system specifically for the construction industry. The company's primary focus is on streamlining payroll and compliance for specialty contractors. Trayd's platform offers a suite of tools designed to automate and simplify back-office tasks, including scheduling, time tracking, and payroll processing. A key feature of the platform is the ability to provide same-day pay to construction workers, addressing a significant need in the industry.

The company's business model is centered around providing its software to construction firms, enabling them to manage both W2 employees and 1099 contractors within a single portal. Trayd's system is designed to handle the complexities of construction payroll, such as managing multiple entities and providing real-time data and analytics through custom dashboards. The platform also includes features like on-site check-ins and automated messaging to keep field workers informed.

Trayd operates in the US construction market, which employs approximately 7 million workers. The company has successfully raised $4.5 million in a seed funding round, bringing its total equity funding to $7 million. This investment, led by Suffolk Technologies, indicates confidence in Trayd's solution to the growing demand for specialized payroll systems in the construction sector.

Keywords: construction payroll, back-office management, same-day pay, compliance software, time tracking, specialty contractors, workforce management, payroll automation, earned wage access, construction technology