We have exciting news! We’ve closed our first funding round, supporting our journey to build workforce and job management tools for the skilled trades. Sharing our supporters is meaningful to us, because we have an incredible roster of organizations behind our cause, energizing our commitment to bringing the skill trades into the digital era.
RIVET’s backers include both institutional and strategic groups. Notable among them is a strategic partnership with IDEAL INDUSTRIES, INC., specifically its electrical division, to improve the way contractors, electricians, unions and trade schools deploy, manage and communicate around human resources. IDEAL has been a leader in the electrical industry for over 100 years. In addition to providing premium professional tools and supplies, the company is widely known for championing the trades. The IDEAL® National Championship electrician challenge attracts 60,000 professionals and student/apprentice participants annually, putting a spotlight on the trade and inspiring a trade career path for new generations.
The partnership will add RIVET’s platform to IDEAL’s electrical portfolio.
“We are excited about this partnership as another way of adding value in our mission to champion the electrical trade”, said Doug Sanford, IDEAL INDUSTRIES’ Senior Vice President | General Manager, Electrical & Infrastructure. “This tool will enhance productivity for contractors and schools, while also making it easier for professional and apprentice tradespeople to engage with job opportunities. It is an important evolution that the industry needs and deserves.”
Michigan Rise is the Pre-Seed Fund administered and supported by the Michigan State University Foundation and Michigan Economic Development Corporation to provide early-stage investment capital and support to Michigan based high-growth potential tech startups.
“We are looking forward to supporting RIVET Work in its mission of bringing efficiencies in the trades, which is an important component of the Michigan workforce”, said Prem Bodagala, Director at Michigan Rise.
Solidea Capital is a venture advisory and investment firm that helps advance the growth of promising seed companies by providing a suite of strategic support and capital. Solidea’s investment in RIVET marks its fifth in a Detroit startup for the New York-based venture shop.
“When I first was introduced to Ryan and the RIVET team, my first thought was that this innovative company needs to be built in Detroit”, said Justin Anderson, Associate Director at Solidea and Detroit native. “We are proud of the mission Ryan and the RIVET team have pioneered, and Solidea is committed to supporting their journey.
WPMC is a New York-based incubation fund, entered the round to support companies cofounded by West Point grads. RIVET Work’s founding team includes Detroit resident Louis Gelinas, an army veteran, National Guard member and software developer. “RIVET is a perfect investment opportunity for us,” said Sam Ellis, WPMC Managing Partner. “The founding team is anchored by strong leaders and we’re able to get in early to create value.”