#017 - Andrius Sutas - Exiting Fintech To Construction Tech & Solving Contractual Issues On Site
What happens when someone decides to automate contracts that were once (and probably still are!) delivered through shipping containers and cranes?
Yes, this is a true story...
Today we welcome Andrius Sutas of Simple Construction Software.
In this episode we deep dive into:
Andrius' story from exited founder to his new venture
ToDo's and not to-do's in the construction tech and start-up world
Why buzzwords suck
Why small steps win over giant leaps
If you’re enjoying our podcast, please leave us a review! This helps us get more amazing guests to give you guys the best and most informative content on technology in the built world.
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Andrius Sutas:
Founder & CEO Simple Construction Software | Co-Author The Founder Handbook | Founded AimBrain (exited to BioCatch) | Forbes 30 under 30
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Today's Sponsor:
@Beta
Construction and technology network platform - connecting the tech industry with traditional partners.
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00:00:00 --> 00:01:39 - Intro
00:01:39 --> 00:02:20 - Sponsor
00:02:20 --> 00:03:55 - History of Andrius Sutas
00:03:55 --> 00:07:32 - Forbes 30 and under 30
00:04:55 --> 00:07:32 - Background about AimBrain
00:07:32 --> 00:08:26 - Is Aimbrain the foundation of Simple Construction Software
00:08:26 --> 00:15:09 - Simple Construction Software
00:15:09 --> 00:15:35 - Does Simple Construction Software use blockchain?
00:15:35 --> 00:18:11 - A related new area that could be tackled?
00:18:11 --> 00:20:24 - The Founder Handbook
00:20:24 --> 00:21:21 - Time management
00:21:21 --> 00:23:37 - Are mentors important? What qualities should they have?
00:23:37 --> 00:27:12 - Are having experiences founding members in a startup important?
00:27:12 --> 00:29:05 - Is the fintech industry smarter than the construction industry?
00:29:05 --> 00:30:13 - Which industry is most exciting in the future
00:30:13 --> 00:32:34 - AI, Machine learning, Deep learning and general AI
00:32:34 --> 00:39:21 - To Do's and Not To Do's for starting a business
00:39:21 --> 00:42:06 - Hobby of Andrius
00:42:06 --> 00:42:26 - More about Andrius
00:42:26 --> 00:42:44 - Outros
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Check out the links in the comments
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Bricks & Bytes
#012 - Ben Richards - Entrepreneurship in construction
If you want to hear a story how Ben went from poker player to founding successful architectural practice and cofounding two other construction businesses - look no further.
In this episode we speak with Ben Richards of Aura Architecture, architectural practice.
Ben talks about his journey of setting up traditional construction businesses. He explains his approach to risk taking in business and also how he is disrupting "measured surveys" industry with his latest venture XP Surveys.
We hope you enjoy the podcast.
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Bricks & Bytes
#016 - Elie AlChaer - How to transition into construction tech & AI driven bot assistant
Do you have a full time job in traditional construction industry and thinking about moving into construction tech? Join us as we speak with Elie AlChaer.
Elie is also a product manager in Slate Technologies and is focused on bot assistants driven by machine learning.
Please see the link to the research article "Engineering Productivity Measurement: A Novel Approach" mentioned by Elie in the episode: https://ascelibrary.org/doi/abs/10.1061/%28ASCE%29CO.1943-7862.0001875
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Bricks & Bytes
Skanska Reveals - Why Construction Companies Have 300+ Software Tools But Still Can't Get Work Done
"One construction project required 18 different software tools just for daily operations - and that's considered normal in our industry."In today's episode of Bricks and Bytes, we had Michael and Danielle from Skanska and we got to learn about the brutal reality of construction tech adoption, why VCs keep backing the wrong startups, and how pricing models are completely broken for the industry... and many more!Tune in to find out about:✅ Why construction companies are drowning in software but starving for solutions✅ The real reason progress tracking tools cost a dollar per square foot✅ How AI hype is following the exact same pattern as the cloud revolution✅ What startup founders get completely wrong about enterprise sales in constructionThese insights from two innovation leaders at a global construction company will change how you think about construction tech.Listen now on Spotify and discover why the industry needs fewer tools, not more.------------------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 Intro02:48 Introduction to Emerging Technologies in Construction06:27 Navigating Software Complexity in Construction12:45 Trends and Innovations in Construction Tech15:06 Geographical Hubs of Innovation16:48 Partnerships with Startups and Compliance Challenges20:36 Adapting to Rapid Technological Changes22:49 Success Stories from Pilot Programs27:14 Defining Emerging Technology and KPIs31:06 Sources and Filtering for New Technologies33:38 The Role of AI in Construction Tech36:06 The Hype Cycle of AI and Big Data38:04 In-House Development and Proprietary Solutions39:07 Advancements in Safety Technology41:10 Challenges with Autonomous Robotics43:01 Evaluating Technology: Frustrations and Complexities48:11 Pricing Models and Industry Friction53:50 Building Partnerships with Startups57:42 Future of Construction Technology1:02:31 Emerging Technologies in Construction
Building Materials Marketplace vs Cloud Manufacturing: What Works Where?
Building my own house made me realize how broken construction supply chains are - Saudi BRKZ founder's story sounds familiar?In today's episode of Bricks, Bucks and Bytes, we explored how Saudi BRKZ secured $17M Series A funding for their construction materials marketplace, bringing their total raise to $22.5M in just two years.We discussed how emerging markets like Saudi Arabia present unique opportunities for construction tech marketplaces that wouldn't work in Western markets, due to their concentrated demand and fragmented supply.We also got fascinating insights from Patric on why having 1,100 suppliers might not be the most efficient strategy for a construction materials marketplace, and why the "cloud manufacturer" model could be more effective.Tune in to learn about:✅ Why Saudi Arabia's construction tech scene is heating up✅ The difference between managed marketplaces and cloud manufacturers✅ How venture debt can be smartly used in profitable marketplace models✅ Why expanding to 40 cities quickly might raise questions for investorsListen to the full episode on Spotify to hear our deep dive into construction tech marketplaces and emerging market opportunities.----------------Chapters00:00 Introduction and Personal Insights01:55 Exploring Construction Tech Opportunities05:01 Understanding Bricks and Its Business Model09:56 Supply Chain Dynamics in Emerging Markets15:08 Funding Strategies and Market Expansion20:06 Debt Financing and Working Capital Management23:51 The Role of Debt in Business Growth24:18 Evaluating Investment Metrics25:10 Understanding Unit Economics26:31 Investment Opportunities in Saudi Arabia28:11 Optimism in the Construction Industry29:39 Navigating Customer Relationships in Startups30:00 The Challenge of Custom Solutions35:34 The Importance of Long-Term Relationships36:18 Technology Integration in Construction39:02 The Future of Construction Technology----------------Sign up to the #1 Newsletter In Construction Tech. Join over 1,000 like-minded Founders, Investors and Techies disrupting the way we build. Forever : https://bricks-bytes.beehiiv.com/subscribe---------------LinkedIn: https://www.linkedin.com/company/bricks-bytes/X/Twitter: https://twitter.com/bricksbytespodYoutube: https://www.youtube.com/channel/UCmNbunUTIIQDzbJgGJt9_ZgInstagram: https://www.instagram.com/bricksbytes/—---------------------------------------------------------- #podcast #construction #constructionindustry #bricksandbytes #startups #architecture #design #civilengineering #engineering #constructiontechnology #engineer #architect #civilengineer #concrete #podcaster #podcasting #entrepreneur #podcasts #podcastlife #startups #entrepreneurship
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Bricks, Buck$ And Bytes
Invoice reconciliation, AI automation, Material data infrastructure & CFO-driven adoption
From calling suppliers to schedule deliveries to manually typing data into Excel - this German startup secures €12.5M to fix construction's paper problem.In today's episode of Bricks, Bucks and Bytes, we had Henric Meinhardt from comstruct walk us through how they're digitizing the material delivery and invoice reconciliation process between suppliers and contractors.We got to learn about how they're using AI to process unstructured data from thousands of suppliers, replacing manual data entry with automated workflows.And interestingly, we heard an investor's perspective on why focusing on financial processes can be the best entry point into construction companies, starting with the CFO rather than on-site teams.Tune in to find out about:✅ How comstruct automates invoice matching and material tracking✅ Why large language models are making traditional EDI interfaces obsolete✅ Their unique go-to-market strategy targeting CFOs first✅ How they convinced World Cup winner Mario Götze to investListen to the full episode on Spotify to hear how comstruct is building the infrastructure for construction's digital future.-----------Chapters00:00 Introduction to Constrakt and Funding Success03:06 The Evolution of Construction Processes06:07 Agentic AI and Its Impact on Construction09:01 Future of Invoicing in Construction12:11 Optimizing Procurement Processes15:08 Supplier Engagement and Automation17:48 Competition and Market Landscape20:59 ESG Considerations in Construction24:07 International Expansion and Future Plans24:37 Technical Difficulties and Humor25:09 Go-to-Market Strategy Insights28:57 Understanding Customer Needs and ROI29:59 Investment and Growth Plans31:44 Navigating the Construction Tech Landscape32:38 Pre-Construction Processes and Challenges36:54 Prioritization in Business Strategy39:14 Engaging Investors in Unique Niches
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Bricks, Buck$ And Bytes
Why European Construction Tech Could Outperform US Startups: A 5X Cost Advantage Revealed
In today's episode of Bricks, Bucks and Bytes, we learn about the story of an AEC start-up that raised $25M from a prestigious investor only to shut up shop shortly after announcing their round.We got insights into late-stage funding challenges in construction tech, with a seasoned investor highlighting why businesses struggle to raise Series B rounds when earlier rounds were overvalued.Also, we learned why Europe might offer better returns for construction tech investors than the US, despite the US potentially delivering bigger individual outcomes.Tune in to find out about:✅ Why listening to non-VC entrepreneurs is crucial for sustainable growth✅ The mechanics of construction tech startup valuations across funding rounds✅ How to navigate down rounds and recapitalization✅ Why European construction tech startups have a 4-5x cost advantage----Chapters00:00 Introduction and Light Banter01:49 Challenges in Construction Tech Funding04:27 Strategies for Raising Capital09:20 Profitability vs. Growth in Construction Tech12:56 Late Stage Funding Trends15:24 Avoiding Overvaluation in Funding Rounds17:28 Valuation Mechanics in Funding Rounds21:16 Equity Dynamics in Down Rounds23:06 Anecdotes from the Industry25:42 Reflections on Construction Tech Investing29:25 Comparative Analysis: Europe vs. US in Construction Tech33:00 Future of Point Solutions in Construction Tech
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Bricks, Buck$ And Bytes
First Principles & Founder Success: Lessons from Scott Wolf's Levelset Journey
"20 years of experience or 1 year repeated 20 times?" - This profound question from Scott Wolfe (Levelset) captures why some founders achieve extraordinary success while others stay stagnant.
In today's episode of Bricks, Bucks and Bytes, we explored how compound experience and non-linear career paths shape successful founders in construction tech.
Tune in to learn about:
✅ How Scott Wolfe's diverse background (software, retail, law) led to Levelset's success
✅ Why non-linear experiences often lead to breakthrough innovations
✅ The truth about choosing the right capital structure for your business
✅ Why your customer should be your best source of capital
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Chapters
00:00 Introduction and Context Setting
01:08 Scott Wolf's Impactful Insights
02:15 The Concept of Compound Experience
04:17 Nonlinear vs. Linear Experiences
10:38 The Importance of Curiosity
12:20 Applying Compounded Knowledge
16:33 The Role of Blogging in Business Growth
25:50 Choosing the Right Capitalization Method
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