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Dive Brief: Financial software firm Briq today announced the launch of BriqCash, the first construction payments and rewards platform focused on how contractors manage their expenses and cash. BriqCash gives general and specialty contractors the ability to automate invoice processing, onboard and manage vendors, control expenses at the cost-code level and make direct payments that earn cash back and industry-specific rewards on items such as tools, equipment rentals and supplies.  This is Briq’s second product release, and the integration of BriqCash into Briq’s larger platform complet...

Total funding: $23.2 million What it does: Uses artificial intelligence to allow owners of commercial real estate to see under the hood of their property insurance in order to make changes that reduce their premiums.  Why it's hot: Cofounder Hemant Shah is the longtime CEO of Risk Management Solutions, the largest risk-analytics company. The idea behind Archipelago is to allow owners of commercial real estate to see how their insurance risk is calculated. That gives them concrete information they can use to make decisions to lower their risk and, as a result, their premiums. The data that Ar...

Share it The U.S. business community overall has suffered a great deal during the coronavirus pandemic. Restaurants and retail establishments have shut down due to customers staying home during lockdowns or because of tight government restrictions on how they are able to operate. Contractors and others in the industry have also taken a hit, even though many services were deemed essential, because some owners and developers are taking a pause on their projects amid economic uncertainty. But there are some construction industry companies that have thrived during the pandemic, opening up new loc...