Levelset
“Can lien-rights management become the payment operating system for the $1T construction industry, and can that visibility fuel embedded lending against unpaid invoices?”
Founded2007
HQNew Orleans, Louisiana, United States
FoundersScott Wolfe Jr.
Total raised$47M (pre-acquisition)
Latest roundSeries C, 2019
Valuation$484M (acquisition by Procore, 2021)
IndustryVertical SaaS / Construction
The story
Founded in 2007 as zlien, a legal-tech tool for mechanics lien filings in the construction industry. Rebranded to Levelset in 2018 as it broadened into a full construction payment platform — notices, waivers, pay apps, and lien rights management. Layered embedded finance (Levelset Capital invoice factoring and Materials Financing) on top around 2019-2020 to monetize the payment risk data it had accumulated. Acquired by Procore in 2021 for $484M, making it the payments/lien-rights arm of the broader Procore construction management platform.
Product timeline
2007
Founded as zlien by Scott Wolfe Jr. in New Orleans after Hurricane Katrina exposed construction payment inefficiencies· founding
2015
Raised first outside capital· funding
2018
Rebranded from zlien to Levelset· pivot
2019
Raised $30M Series C led by Horizon Ventures· funding
2020
Launched Levelset Capital (invoice factoring/receivables purchase) and Materials Financing· lending
2021
Acquired by Procore for $484M· acquisition
The stack
3 layers disclosed in Levelset’s embedded-finance stack
Payments / PSP
Lending
in the full report
Accounting
in the full report
Accounting gap: minor
6 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.