Miter Raises $40 Million as Battery Ventures Bets on AI Construction

Miter, a software platform that applies artificial intelligence to construction operations, has raised $40 million in a funding round led by Battery Ventures, according to a citybiz report.

The deal puts a major growth-equity firm behind one of the startups working to digitize an industry that still runs heavily on paperwork, phone calls and fragmented spreadsheets. Battery Ventures, which has previously backed enterprise software companies across construction tech and other verticals, led the round.

What does the $40 million buy Miter?

The $40 million commitment gives Miter fresh capital to expand its AI-driven platform for construction businesses. The company builds tools that automate and streamline operational workflows for contractors and construction firms — a segment of the economy that has historically underinvested in software relative to its size.

Construction remains one of the largest industries in the United States by employment and output, yet it has long been viewed by software investors as underpenetrated. That gap has drawn a wave of venture and growth capital into the category over the past several years, and Miter's new round extends that pattern.

For Battery Ventures, the investment signals continued appetite for vertical AI applications — software that embeds machine intelligence directly into the workflows of a specific industry rather than offering general-purpose tools.

Why is construction tech attracting growth capital now?

The Miter round lands amid a broader shift in how investors approach AI startups. Capital has moved decisively toward companies that pair AI with a defined vertical market and a clear operational problem, rather than toward horizontal platforms without an embedded customer base.

Construction fits that thesis tightly. Firms in the sector face labor shortages, scheduling complexity and margin pressure, and they generate vast amounts of unstructured project data — conditions that make automation software attractive when it demonstrably reduces administrative load.

A $40 million round led by a firm of Battery Ventures' scale typically marks a growth-stage commitment rather than a seed bet. The size indicates that Miter has shown enough commercial traction for its lead investor to underwrite expansion.

What comes next for Miter?

The immediate priority for Miter will be deploying the $40 million across product development, AI capability and market reach — the standard playbook for a growth-stage software company with an industry-specific platform.

The round also sets a benchmark for other construction-software startups now raising capital. If Miter converts the funding into measurable share gains among contractors, expect Battery Ventures and its peers to keep pressing into AI applications for the built environment. The $40 million commitment suggests the conviction is already there.