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
$1.5M AI Employee Bonuses, Procore Growth Slowdown? & LinkedIn Growth Hacks with Derek Wong
What happens when AI hype, billion-dollar bets, and the cold reality of hardware vs. software collide — plus, how to dominate LinkedIn without sounding like everyone else?In this episode of Bricks, Bucks & Bytes Owen, Martin, Patric, and Dustin are joined by LinkedIn strategist Derek Wong to unpack:Which AI giant will actually have the best model by the end of August — and why public betting markets might be getting it wrongThe surprising slowdown at Procore vs. Trimble’s surge — and what it says about the future of construction techWhy hardware “moats” can be a game-changer for tech companiesThe right and wrong ways to use AI in business (and why LLMs aren’t your calculator)Derek’s playbook for turning LinkedIn into the ultimate “box of donuts” for winning high-value customers"Hardware is an amazing bathtub — once you control the install base, your software gets stickier and your distribution gets easier." — Patric Hellermann-----Sponsors:BuildVision - 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 Intro01:13 Earning Potential and Career Strategies05:26 AI Models and Company Performance10:07 Evaluating AI Tools and Their Limitations14:42 Practical Applications of AI in Business17:52 Understanding User Interaction with AI Tools19:58 Market Dynamics in Construction Technology22:54 Contrasting Business Models: Procore vs. Trimble24:45 Valuation Insights and Market Perception31:25 The Future of Procore: Leadership and Vision39:28 Building Relationships through Content on LinkedIn46:45 Mind Share and Brand Recognition48:27 The Importance of Target Audience50:26 Crafting a Compelling LinkedIn Profile52:03 The Dangers of Self-Labeling54:26 Clarifying Your Value Proposition55:29 Content Strategy for Engagement57:57 The Role of Content in Building Relationships59:43 Understanding Your Goals on LinkedIn01:01:58 The Future of AI and Construction01:08:00 The AI Race and Its Implications01:09:46 Innovations in Modular Housing
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Bricks, Buck$ And Bytes
Turner's 44% Growth, Figma IPO Rogue Calculations, Meta's $150B Block & AI's 85% Fail Rate with Dex from Propel People
Construction companies are posting "impossible" growth numbers while tech giants can't spend their billions. What's really happening?In this episode of Bricks, Bucks & Bytes, Owen, Dustin, and Patric dive deep into the shocking stories reshaping the construction industry, plus a special guest appearance from construction tech veteran Dex who just raised $3 million to solve the industry's biggest crisis.What we cover:Turner Construction's mind-blowing 44% revenue growth (and why it's "impossible")The Figma IPO scandal that cost early investors millionsWhy Meta can't spend $150 billion even though they want toConstruction's $20 billion labor shortage crisisWhy 85% of AI projects fail (and the patterns that actually work)Energy bottlenecks blocking massive infrastructure spendingDex's new startup Propel People tackling the skilled worker shortageKey Quote: "This is highway robbery for the existing investors... they just lost a ton of value." - Patric on the Figma IPO controversyFrom billion-dollar construction wins to IPO disasters, energy grid meltdowns to recruiting revolutions - this episode reveals the hidden forces driving massive changes across the industry. Whether you're in AEC, tech, or just curious about where the economy is heading, these insights will change how you see the business world.-------Chapters00:00 Intro01:00 Origins of 'Okay' and Its Cultural Significance03:40 Turner's Impressive Growth in Construction06:21 Diversification and Strategic Partnerships in Construction09:23 Turner's Expansion into European Markets12:14 Figma's IPO and Market Dynamics15:01 Valuation Challenges and Investor Sentiment18:16 Banking Practices and IPO Pricing Strategies25:21 The State of AI in Enterprises29:16 Challenges of Pilot Programs30:53 Historical Insights on Project Failures35:00 Ensuring Technology Adoption41:43 Energy Infrastructure Bottlenecks47:36 Introduction to Propel People52:13 Building a Recruiting Platform for Construction56:24 Sourcing Talent in the Construction Industry58:18 Evolution of Technology in Construction60:11 The Role of Social Media in Recruitment63:04 Founder-Led Sales and Market Insights67:05 Setting Foundations for Success in Startups
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Bricks, Buck$ And Bytes
$555K Salary for Construction Engineers, Trunk Tools $40M Round, Stone Carving Robots with Monumental Labs
OpenAI is paying construction engineers $555K – but there's a catch that nobody's talking about.In this episode of Bricks, Bucks & Bytes, Owen, Martin, and Dustin expose the shocking reality behind AI salaries in construction, debunk viral industry charts, and reveal why your favorite building materials might be making a comeback.What we cover:Why OpenAI is paying engineers 5x more than top architecture firmsThe truth behind "construction AI growth" charts flooding social mediaHow AI coding tools are changing the startup game (and why most companies are doing it wrong)Trunk Tools' massive $40M funding round – and what it means for the industryInside Dexto's $15M bet on prefabrication technologyWhy stone buildings could dominate the future (thanks to robots)The real strategy behind why successful startups raise more money than they needKey quote: "I've never met a civil engineer or an architect making that much money. Ever." – Dustin DeVan on OpenAI's salary offeringsFrom fake data manipulation to robotic stone carving, this episode pulls back the curtain on where construction tech is really headed. Whether you're an investor, founder, or just trying to understand why your industry is changing so fast – this one's a must-listen.--------Sponsors:BuildVision - streamlining the construction supply chain with a unified platform - www.buildvision.io4M Analytics - Instant, reliable utility data you can trust and verify - https://www.4manalytics.com/------------Chapters00:00 Intro01:25 Introduction and Welcome Back02:43 Exploring AI in Engineering Jobs04:55 Salary Insights for Engineers at OpenAI08:60 The Future of Engineering Roles and Compensation11:46 Equity and Compensation in Tech Companies17:32 Navigating AI Technologies in Business21:53 Funding and Growth in the AI Sector22:30 The Evolution of AI in Construction Tech25:37 The Importance of Founder Branding in Tech31:10 Analyzing AI Adoption Across Industries36:41 Dextal: Revolutionizing Prefabrication Technology51:55 Introduction to Robotic Stone Carving52:32 Innovative Building Techniques with Stone54:04 The Role of AI in Stone Carving55:53 Future of Stone Construction57:22 Business Model and Customization59:29 Reviving the Craft of Stone Carving61:11 Challenges in Stone Architecture64:32 Sustainability of Stone as a Building Material65:50 Personalization in Sculpture67:18 Market Demand for Stone Products70:51 The Future of Robotics in Construction
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Bricks, Buck$ And Bytes
$5B Heat Crisis, 89% Productivity Drop, Startup Reality Check, SuperSede Plastic Innovation, $10M Raise Success with Sean Petterson
Is your construction project secretly losing $5 billion a year? This industry insider just exposed the shocking truth about why 89% of construction firms are failing.In this episode of Bricks, Bucks & Bytes, Owen, Martin, and Patric dive deep into the hidden forces reshaping the AEC industry, plus exclusive interviews with game-changing founders who are disrupting everything.What we cover:The $5 billion heat crisis destroying construction schedules (and why Martin thinks it's just an excuse)Why 70% of construction tech startups are failing at Series A funding roundsSean Petterson from SuperSede reveals how recycled plastic is replacing plywood foreverThe brutal truth about why all construction software has terrible UX designMo Akbari's controversial take on how AI could kill DocuSign overnightPatrick's explosive Coca-Cola business model that could transform constructionWhy Europe's buildings are designed to overheat (and what that means for your projects)Key Quote: "If you build shit companies and you raise your seed round on a shit promise and you can't deliver on that shit promise, well, at series A and B, it's easier to be found out." - Patric HellermannFrom climate disasters to funding secrets to revolutionary materials, this episode pulls back the curtain on what's really happening in construction tech. Warning: You might never look at your projects the same way again.----Sponsors:BuildVision - 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 Intro01:07 Introduction and Technical Glitches04:14 Cultural Insights from Corfu07:07 Heat and Productivity in Construction10:05 Debating Heat Management Solutions13:09 Innovations in Construction for Heat Management16:12 Building Regulations and Overheating Concerns19:08 The Role of Insulation and Building Design22:06 Funding Analysis and Market Trends36:22 Funding Trends in Construction Tech41:08 Challenges in Achieving Series A and B Funding44:36 Introduction to Super Seed and Its Innovations51:58 Super Seed's Unique Product Offerings57:31 Scaling and Capacity Building in Manufacturing01:02:34 Brand Strategy and Market Positioning01:04:54 Navigating Industry Standards and Specifications01:13:46 Choosing the Right Communication Tools01:14:42 The Importance of User Experience in Construction Tech01:16:56 Evaluating Product Design and Usability01:19:38 Metrics for Assessing User Experience01:25:19 The Role of AI in Product Development01:29:24 The Future of Document Signing Solutions01:32:55 The Impact of Pricing on Market Competition01:35:24 Mo's Upcoming Project Reveal
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