How to Build a Construction Tech Company That Gets Acquired for $600M
"Most software companies either get acquired or go out of business. If you start doing really well, they're either going to copy you or buy you."In today's episode of Bricks and Bytes, we had Geoff Tarrant from Payapps and we got to learn about how a $600 million construction tech exit really happens, why Australian startups must expand globally, and the brutal truth about fundraising timing... and many more!Tune in to find out about:✅ Why construction tech companies never IPO and always get acquired instead✅ The mistake founders make when expanding to new markets too early✅ How to build relationships with potential acquirers years before selling✅ Why raising money too late kills more startups than anything elseGeoff shared incredible insights from building PayApps from a CFO's monthly nightmare into a tens-of-millions revenue business that Autodesk couldn't ignore. His investment banking background gives him a unique perspective on what really drives acquisitions and why timing everything wrong can destroy even great companies.Listen now on Spotify to discover the real playbook for construction tech exits and what founders get dangerously wrong.=============Chapters01:41 – Intro & Acquisition Overview
04:34 – How Claims Are Evolving in Construction
07:41 – Market Dynamics & Competitive Landscape
10:30 – The Role of Independent Players in ConTech
13:45 – Inside the Acquisition: Strategy & Timing
16:49 – What Happens After: Post-Acquisition Integration
19:37 – Winning Customers: Acquisition Strategies That Work
22:31 – Going Global: Expansion & Market Entry
36:58 – Hard Truths: Challenges in New Markets
42:13 – Product-Market Fit: Why It Matters More Than Ever
47:58 – Team Building at Scale
52:55 – Raising Capital & Managing Dilution
01:00:39 – What’s Next: AI & The Future of ConTech
01:03:59 – Where the Opportunities Are: Shifting Construction Markets
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Bricks & Bytes
Building the Google Maps of Underground America - This Ex-Soldier Mapping What's Beneath Our Feet
From clearing landmines to building the "Google Maps of what's beneath the ground" - sometimes the most unexpected backgrounds create the biggest breakthroughs.Most people can't imagine that we don't actually know where underground utilities are buried. Yet there are 169,000 construction projects happening every single day in the US that need this critical information.In today's episode of Bricks and Bytes, we had Itzik from 4M Analytics and we got to learn about turning military explosive detection expertise into construction tech, the tragic consequences when underground mapping fails, and how AI is revolutionizing subsurface data... and many more!Tune in to find out about:✅ How military landmine detection skills translate to finding buried utilities ✅ Why 8% of every construction budget goes to unknown underground risks✅ The business model that maps once but sells the same data forever ✅ From 104 employees to mapping 22 US states in one yearReady to discover how one founder is preventing construction disasters while building a unicorn? Listen now on Spotify.------------Chapters00:00 Intro02:00 From Military to Mapping: The Journey Begins04:56 Building the Google Maps of the Subsurface08:07 Navigating the Challenges of Investment10:49 Understanding the Utility Coordination Landscape13:57 The Pain Points in Construction and Excavation17:01 The Value Proposition of 4M Analytics19:56 The Role of Technology in Mapping Subsurface Utilities23:13 AI and Its Impact on Data Accuracy25:48 The Importance of Timing in Tech Solutions28:56 Innovations in Data Collection and AI Integration41:01 The Future of Construction and AI42:17 Expansion and Focus on the US Market45:36 Navigating Challenges and Learning from Mistakes51:41 Adapting Go-to-Market Strategies57:01 Achieving Product-Market Fit01:02:21 The Role of a CEO in a Growing Company01:10:14 Closing Thoughts and Future Initiatives
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Bricks & Bytes
AI Won't Replace Construction Workers - Here's Why (Former Autodesk Director Explains)
"AI can create decent poetry way before it can deal with engineering work."This blew my mind during our conversation with Francesco Iorio, CEO of Augmenta.The construction industry is facing a massive problem. The gap between what technology can do and how we actually build is bigger than almost any other field.Francesco shared how his team is tackling electrical design automation - one of the most complex problems in construction. They're not just speeding up workflows. They're completely rethinking how buildings get designed.In today's episode of Bricks and Bytes, we had Francesco and we got to learn about why electrical design is so complicated, how AI misconceptions are holding back the industry, and why automation is the only path to sustainable building design... and many more!Tune in to find out about: ✅ Why recreating software like Revit costs over 500 million dollars ✅ How labor shortage is driving construction tech innovation ✅ Why error-free design is still years away but getting closer ✅ How automation will change construction contracts and insuranceListen now on Spotify and join the conversation about the future of construction technology.------------Chapters00:00 Intro02:45 Introduction to Generative Design in AEC07:51 Francesco Iorio's Background and Journey12:33 Identifying the Need for Augmentor17:31 The Evolution of Augmentor's Focus22:41 Challenges in Electrical Design27:39 Augmentor's Current Capabilities and Future Goals33:02 Addressing Labor Shortages in Electrical Design35:23 Funding Journey and Investor Conviction39:05 Sustainability and Automation in Design41:49 Integration Challenges in AEC Solutions45:18 The Quest for Error-Free Design50:33 AI's Role in Generative Design54:46 Customer Engagement and Sales Strategies59:13 Demographics of Early Adopters01:02:49 Future Expansion Beyond Electrical Design
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Bricks & Bytes
"20-Year-Old Software is Killing Architecture" - Legacy Systems & Cloud Solutions from Qonic Founders
"Loading 19 files, each over a gigabyte, into a web browser and manipulating them like butter was the moment I knew I had to join Qonic." - Aaron Perry, former digital design lead at one of UK's largest architecture firms.In today's episode of Bricks and Bytes, we sat down with Mark and Aaron from Qonic to explore how they're revolutionizing AEC software with cloud-native technology that overcomes the limitations of decades-old industry tools.Tune in to find out about: ✅ Why existing AEC software built in the 90s is holding the industry back ✅ How Qonic handles complex construction models that traditional tools can't process ✅ Their innovative "per project size" pricing model instead of per-user licensing ✅ Why contractors adopt new tech faster than architects (hint: it's not about the colors)Listen to the full conversation on Spotify to discover how Qonic is enabling true collaboration across the entire building lifecycle.-----Chapters00:00 Founding Koniq: A New Era in AEC Software03:03 The Future of AEC Software: Insights and Innovations05:58 Challenges in the AEC Industry: Software Limitations08:55 Interoperability and Collaboration: Bridging the Gaps12:00 Koniq's Unique Approach: Transforming Design and Construction14:46 The Role of Koniq in the AEC Landscape17:59 Market Positioning: Koniq's Strategy and Vision20:59 The Future of AEC Tools: Collaboration vs. Monopolization24:01 Koniq's Value Proposition: Cost Efficiency and Innovation27:04 The Impact of AI on AEC Software29:57 Looking Ahead: The Future of Koniq and AEC Software39:00 The Role of AI in Architecture45:02 Modern Architect Needs and Software Solutions52:01 Understanding the Customer Base55:55 Innovative Pricing Models and ROI01:02:02 Bootstrapping and Go-to-Market Strategies
Live from AU, Hosts World Travels, University Entrepreneurship Culture, NFL Insider
In this episode of Bricks, Bucks & Bytes, Owen reports live from Autodesk University in Nashville while Martin shares insights from ETH Zurich's startup conference and Patrick breaks down why popular AI bubble theories are dead wrong.Key Topics Discussed:Why European universities systematically crush entrepreneurial thinkingThe truth behind construction tech's massive funding rounds (80-120M per quarter)How to spot real market bubbles vs. media hype around AI stocksWhy hardware startups face an uphill battle against venture capital preferencesThe innovation crisis at large tech companies like AutodeskPatrick's exclusive behind-the-scenes tour of the LA Rams stadiumMartin's analysis of timber-earth construction panels and venture backabilityKey Quote: "You're basically being taught all the time to stay within reason. And if you want to build a really awesome company, you have to be going against the grain and doing things that other people will call you crazy for." - Patric on why universities fail at creating entrepreneursFrom concrete innovation to NFL stadium construction secrets, this episode exposes the uncomfortable truths about where construction technology is really headed.
Microsoft just bet $10M on construction AI - but industry insiders think it's a massive mistake.In this episode of Bricks, Bucks & Bytes, Owen, Patrick, and Dustin dive into the biggest tech moves shaking up construction while welcoming guests from two hot startups that just raised millions.Key topics discussed:Microsoft's massive $10M AI bet with Balfour Beatty - and why some think it's overpricedBluebeam acquires Firmus AI in a surprising exit storyAutodesk's crushing $1.7B earnings that made investors very happyWhy Figma's stock crashed despite good earningsOneCrew raises $7.5M to modernize paving contractorsBuildFactory's $3.3M raise for prefab marketplace (plus an epic stealth mode fail)OpenAI's ironic $400K job posting for a content strategist"Those are amazing companies, but both those pieces of software need to be shot behind the tool shed. Like they are so old." - Dustin DeVan on legacy construction softwareFrom billion-dollar acquisitions to startup war stories, this episode reveals what's really happening behind the scenes in construction tech - including how one founder got exposed by a LinkedIn web scraper and why some think Microsoft is charging contractors way too much for basic AI tools.
Our Sponsor: Archdesk - “The #1 Construction Management Software for Growing Companies - Manage your projects from Tender to Handover” check archdesk.comBuildVision - streamlining the construction supply chain with a unified platform - www.buildvision.io4M Analytics - Instant, reliable utility data you can trust and verify - https://www.4manalytics.com/
Chapters00:00 Intro01:26 Introduction and Martin's Travels03:11 Microsoft's Investment in AI for Construction15:48 Acquisition of Firmus AI by Bluebeam23:50 Autodesk's Latest Earnings Report29:22 Earnings Insights and Market Reactions32:20 Autodesk's Strategic Shifts and Growth Potential34:24 Figma's Earnings and Market Positioning37:11 Figma's AI Initiatives and Future Directions51:05 OneCrew's Innovative Approach to Paving Software01:01:00 AI in Construction: The Future of Scheduling and Management01:04:37 Navigating the Challenges of Selling to Government Agencies01:05:42 Britton Langdon's Journey: From Stealth to Startup01:07:40 The Prefabrication Marketplace: Bridging Supply and Demand01:14:22 Quality Control in Prefabrication: Ensuring Standards01:20:12 Defining Prefab: Strategies for Cost and Efficiency
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Bricks, Buck$ And Bytes
Robotics Mega Show with Dusty Robotics and ex-Waymo exec & CTO of Bedrock Robotics
Why these ex-Waymo engineers decided to conquer construction with their new startup, Bedrock Robotics.In this episode of Bricks, Bucks & Bytes, Owen and Patrick dive deep into the robotics revolution hitting construction with two industry-changing guests. Mo joins as co-host, bringing his Silicon Valley robotics expertise to unpack the biggest funding rounds and breakthroughs happening right now.Key topics discussed:- Why Dusty Robotics chose layout printing over flashier robot applications- How ex-Waymo engineers are retrofitting excavators with self-driving tech- The brutal truth about why most construction robotics startups failWhy accuracy is becoming the ultimate moat in construction robotics- How labor shortages are forcing the industry to embrace automation- The surprising lesson from building 60 robots in-house before outsourcing- Why Field AI's $405 million funding signals a tipping point for the industry- How construction sites are actually the perfect training ground for real-world roboticsKey quote: "Obviously everything's going to be built by robots in the future." - Tessa Lau, Dusty RoboticsFeaturing Tessa Lau, founder of Dusty Robotics (the most respected robotics company in construction tech), and Kevin Peterson, CTO of Bedrock Robotics (fresh out of stealth with $80 million to automate heavy machinery). This episode reveals why construction might be the key to unlocking robotics everywhere else.
🎧 Listen to the Podcast: https://open.spotify.com/show/3P7JkiN9X3N4Kh6jlDsOgi?si=91JP5nxvQbKStkp8AQdAOg 📩 Subscribe to the Bricks & Bytes Newsletter: https://bricks-bytes.beehiiv.com/🌐 Visit our website: http://bricks-bytes.com/
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Chapters00:00 Intro01:06 Introduction to Robotics in Construction03:53 Current Trends and Sentiments in Robotics06:45 Barriers to Adoption in Robotics09:40 Autonomy vs. Collaboration in Robotics12:40 Field AI and Its Impact on Construction15:29 Dusty Robotics: Revolutionizing Job Sites18:18 The Future of Construction with Robotics21:04 Challenges in Construction Tech23:53 The Importance of User Experience in Robotics26:55 Lessons Learned from Robotics Development29:36 The Role of Accuracy in Robotics32:50 Proprietary Hardware vs. Off-the-Shelf Solutions39:43 Prototyping and Time to Market42:40 Manufacturing Challenges in Robotics44:46 Adoption of Robotics in Construction46:23 Pricing Strategies for Hardware47:41 Building a Thriving SaaS Business49:20 Transitioning from Self-Driving Cars to Construction53:30 Unique Product Offerings in Construction Robotics56:29 Collaboration Between Humans and Machines59:24 Adapting to Change in Construction01:11:09 The Future of Robotics in Construction
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Bricks, Buck$ And Bytes
Construction Productivity Myths, UAE Real Estate, TIMES VC Rankings, with Barton Malow
In this episode of Bricks, Bucks & Bytes, Owen, Martin, Dustin, and Patric dive deep into the biggest misconceptions shaking up construction and venture capital. Plus, we're joined by Victor Muchiri from Barton Malow (a $5 billion general contractor) who reveals what tech actually works in the field.What we cover:Why Dubai developers are bringing $19 billion worth of construction in-house (and whether this trend will hit the West)The shocking truth about that McKinsey productivity chart everyone uses in pitch decksWhy 8 out of 10 construction companies can't even define what a "project" isTime Magazine's controversial VC rankings that reward management fees over actual returnsVictor's insider perspective on which construction technologies actually deliver resultsThe Pablo Escobar business model lesson that might change how you think about valuationsKey quote: "Construction companies can't even define what a project is. Eight different customers cannot define internally what a project is. One customer had eight different definitions. This is your business - the project is the equivalent of the order in manufacturing." - PatricFrom Sequoia being mysteriously absent from "top VC" lists to why rats eating cash might be better than some investment strategies, this episode challenges everything you think you know about construction productivity, venture capital, and business models.------------Chapters00:00 Introduction and Awkward Beginnings03:08 Dubai's In-House Construction Trend11:01 The Best Owner Logic in M&A18:40 Market Dynamics and Developer Strategies21:19 Construction Productivity and Industry Comparisons30:45 Luxury and Value in Construction32:09 The Economics of Markup and Intangible Assets34:32 Current Trends in the UK Construction Market36:02 Introduction to Barton Mello and Its Operations38:36 Innovations in Construction Technology41:31 Data Strategies in Construction45:10 Defining Projects in Construction49:59 Standardization Challenges in Construction53:15 Engaging with Startups in Construction Technology54:35 Navigating AEC Tech Startups56:01 The Importance of Industry Expertise57:09 Defining Success in Venture Capital58:36 Exploring America's Top Venture Capital Firms59:53 Evaluating Venture Capital Performance01:01:42 Critiquing the Scoring Criteria of VC Firms01:04:49 The Role of Sequoia in Venture Capital01:08:25 Understanding the Power Law in VC Investments01:10:19 The Impact of Management Fees on VC Performance01:13:13 The Purpose Behind Controversial Lists01:15:33 Top Podcasts and Their Influence
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