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Exclusive: Performance pay platform Protiv raises $2.4M

Illustration of a hundred dollar bill with Ben Franklin wearing a construction hat.

Shoshana Gordon/Axios

Protiv raised $2.4m in pre-seed funding, the startup tells Axios exclusively.

Why it matters: The pay-for-performance platform for construction and other skilled trade workers helps employers facing labor shortages and productivity challenges.

How it works: Protiv users set worker goals and pay bonuses for completing tasks ahead of schedule or meeting other key performance indicators.

  • The goal is to provide more transparency to all team members while reducing budget overruns and boosting worker pay.
  • Protiv integrates with the existing project management tools used in the construction industry and charges a $12 per worker per month SaaS fee for businesses to use its platform.

What they're saying: "We're able to share with [workers] in real time their opportunity to earn more and what they need to do to execute on that … [by] showing them how much time they have remaining and their goals," Protiv co-founder and COO Michael Fortinberry says.

Fun fact: Fortinberry and co-founder David Franco-Julian built the technology to manage incentives within their own construction company before productizing it and making it available to others.

By the numbers: Since the platform launched in early 2023, Protiv customers have paid out $1 million in worker bonuses in 34 states and expects to hit $15 million in bonuses paid out this year.

  • By aligning incentives with worker pay, Protiv says teams on the platform have seen 10% wage growth and an average 12%-15% production lift.
  • "We think it's a great target for our customers to say, 'How do I raise wages for my workers by 10%-15%, and see my labor costs come down 3%-5%?' That's a major win for industry, if we can pull that off consistently," Fortinbery says.

Zoom in: The round was led by Lightbank and Las Olas Venture Capital, with participation from Parameter Ventures and Early Light Ventures.

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