Miter
“Can a vertical HCM + embedded payments platform become the operating system for the construction industry?”
Founded2021
HQSan Francisco, California, United States
Total raised$88M
Latest roundSeries B, 2025
IndustryVertical SaaS / Construction
The story
Founded 2021 as a payroll-compliance platform for construction contractors, Miter has expanded into a full HCM + field operations + expense management stack for the construction and field-services vertical. The company's positioning has shifted from 'payroll for contractors' toward 'the financial and operational OS for contractors,' using AI and embedded payments to replace legacy on-premise systems from the 1980s/90s.
Last 12 months
Product timeline
2021
Miter founded in San Francisco to modernize back-office software for construction contractors.· pivot
2023
Launched embedded payroll product powered by Check.· banking
2025
Raised $50M Series B led by Coatue to expand HCM, field ops, and expense management.· pivot
The stack
2 layers disclosed in Miter’s embedded-finance stack
Payroll
Accounting
in the full report
Accounting gap: none
7 more providers across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.