ConstructionBevy

IT’S MESSY AND INEFFICIENT TO FIND AND QUALIFY TRADE PARTNERS

- There's no common database of all companies, their offerings, and areas served in the commercial contracting sector where, using AI/ML, users can find and qualify subs of interest in an asset class that represents 6% to 10% of the GDP of every country in the world.
- People outside the industry think GCs know what subs they want to use. GCs are always looking for subs - for multiple reasons
- Trade partner qualification is expensive and time consuming for general contractors, subs, and material suppliers
- Responding to multiple pre-qual requests, sometimes with each new bid, is inefficient and can require a dedicated staff for trade partners/subs
- There always seems to be more regulatory, reporting, and customer demands regarding environmental and societal impacts.
- Existing tools focus on data gathering, rather than verifying past projects and/or ESG performance. Plus, companies have almost no workflow tools and thus doing manual credit approvals

- First customer CRH already paid $600k (no equity or market restrictions) to be the first sponsor and kick off business.
- May go live, already ~1,000 companies registered
- First GC revenue contract signed for RAC reports (~$100,000/yr)
- HOAR, Arco Murray, Brookfield, Layton, Greystar and others are participating in a group pilot kicking off in late July. HOAR CFO proactively asked if they can invest.  They would be the 8th GC if they do.
- In detailed discussions with insurance carrier with > 1mm policies.  They're willing to take DD questions from investors and expect to close the deal in mid Q3.
- Closed larger than expected $3.5mm Pre-Seed SAFE, seeking $3mm priced Seed round.