Brick & Mortar Ventures

There's a new wave of ConTech startups directly competing with incumbents. Instead of selling their solutions to the industry, they are vertically integrating to become tech enabled contractors. Over 10 years ago, a VC famously proclaimed ‘Software is eating the world.’ They argued technology driven businesses will disrupt industries pointing to Facebook and Netflix as examples. While these companies have changed the way we live, they have yet to disrupt industries like Construction or Real Estate. The truth is the physical world needs physical solutions. Take Ento, for example. They were a workforce management solution for blue collar businesses assisting with scheduling and tracking labor. It created ~8-15% efficiency gains for subcontractors which was great… Except that theoretically the software should have produced over 50% gains. So what happened to the ~35%? They realized that selling solutions doesn’t guarantee contractors will fully adopt them. For founders who care about improving construction, it’s a frustrating realization. And now they’re asking, what if we were the contractor? Last Week in ConTech, Treehouse raised $16.6m in Series A funding. They call themselves the ‘Electrical contractor for the 21st century’ where Trades and Software live under one roof. Their software enabled installation platform for electrification projects (think EV charging or home electrification) gives them an efficiency moat. It allows users to quickly receive pricing estimates, perform load calculations and generate plans for permit filings. And their electricians use it to provide real-time updates during installation. A service incumbents don’t offer. It’s not the first time I’ve seen the model. Back in 2022, Roofer.com which uses drones and AI to undertake roofing inspections acquired a roofing contractor to vertically integrate. If I were an incumbent I’d be nervous. The competitive threat has never been from peers or smaller contractors. It’s from new entrants to the market, deeply embedding technology out-competing on price and efficiency. —--- Follow me and Last Week in ConTech to stay up to date with the latest construction tech news, policy changes and startup funding trends. Ento example from Vertical Integrators by Packy McCormick

Big thanks to Texas A&M University, Stephen Mulva, Patrick Suermann, and Pete ONeill! I'm looking forward to more great events in College Station, TX! We truly appreciate the coverage, Jeffrey Rubenstone! https://lnkd.in/gWs27h2f

We are excited to make some significant announcements for our decennial anniversary! 1. Our mission is now to support construction entrepreneurs commercializing emerging technology and construction intrapreneurs employing new solutions. 2. We have partnered with Texas A&M University to produce innovation competitions with intrapreneurs as judges and entrepreneurs as competitors. Additional resources for intrapreneurs are in the works! https://lnkd.in/ganicVJE

Excited to launch our first Innovation Challenge today with Brick & Mortar Ventures and the The Society for Construction Solutions (SCS) in partnership with Texas A&M Innovation and the Texas A&M College of Architecture https://lnkd.in/gwwsqW69

Brick & Mortar Ventures is hosting a construction tech panel during #SFTechWeek on Tuesday, October 8th at 3pm at our office in Jackson Square. The panel will focus on the nuances of go-to-market in the #construction industry and will feature: Claire Wilson (Siteline): selling to construction trade contractors Kevin Albert (Canvas): business model changes in construction robotics Kevin Soohoo (Egnyte): leading GTM for a later stage tech company selling into the AEC industry Nitin Bhandari (Planera, Inc): repeat founder now selling into construction and will be moderated by our founder and managing director Darren Bechtel. Sign up here: https://lnkd.in/gVasMWsQ We look forward to hosting all who are interested in joining, starting, running or investing in construction tech startups! Thank you TECH WEEK by a16z for putting all of this together! See the full schedule at tech-week.com #aec #constructiontech #innovation #contech #constructiontechnology #robotics #planning #security #contentmanagement #scheduling #financials #constructionrobotics

Formwork Labs Demo Day is on Wednesday, May 15th, 2024. We will be kicking off the event with a welcome from Brick & Mortar Ventures’ Darren Bechtel and BuiltWorlds’ Matthew Gray followed by a State of Construction Tech fireside chat with Sidharth Haksar (Autodesk). Demo Day starts at 2pm (hybrid) with a networking mixer at the Brick & Mortar office in San Francisco at 4pm. Please register here for the events: https://lnkd.in/gwSS-uYY We look forward to showcasing: Flowlly MatBook Pivla Silo-In TerraScape AI Formwork Labs is powered by Brick & Mortar Ventures and BuiltWorlds. Feel free to reach out to Jack Forde or I if you have any questions! #construction #aec #constructiontechnology #constructiontech #innovation #technology #demoday #accelerator #venturecapital #startups

Construction Tech Day 2024 ⚡️ Buildpeer x Brick & Mortar Ventures! I’m so excited to share that we’ll be hosting our very first event in Monterrey, featuring our top-tier partners Brick & Mortar Ventures 🚀 Construction Tech Day will be a space for corporations, builders, developers, startups, venture capitals, architects, industry professionals. The event will take place in Digital Hub Monterrey May 9th, 2024. Thank you CEMEX Ventures for collaborating with us and providing us with the location. Our mission lies to facilitate the cross-industry collaboration and knowledge exchange, all while showcasing cutting-edge technologies to drive innovation and growth in the Latin American construction sector. We look forward to cultivate an ecosystem where experts from diverse fields converge, share insights, and forge partnerships with pioneer solutions. This is an open invitation to everyone interested. Don’t miss the opportunity — space is limited, so don't delay in registering. Registration is now open: https://lu.ma/k5a2dff9 Stay tuned to hear more about the speakers at Buildpeer it’s gonna be a day to remember and see you soon. 🇲🇽🏗️

Join us for an enriching evening of networking hosted by The Society for Construction Solutions (SCS) Austin Chapter, taking place on Tuesday, April 16th, from 5 to 7 PM at the scenic Hossley Lighting & Power Solutions office, nestled above the YETI store on 220 S. Congress. We're thrilled to welcome Alice Leung from Brick & Mortar Ventures, along with an exciting presentation by Alex Q. Huang on his groundbreaking startup: Quantum Inverter, spearheading a more sustainable energy transition. Learn more about their innovative endeavors in the upcoming future at https://lnkd.in/gWmvh6aw. Indulge in Home Slice Pizza and refreshing beverages as you connect with fellow technology enthusiasts who share your passion. Join us for an evening of insightful conversations and promising connections. #constructiontechnology #innovation #sustainableenergy

Excited to share the upcoming 2024 Formwork Labs cohort!

Thank you to the overwhelming support from the construction industry -- for this upcoming cohort, we have 85+ individuals who have signed up to be a mentor for the program. This does not include the speakers/trainers that we already have lined up! If you are looking for an accelerator program focused only on construction tech, applications are currently open! We bring in customers from across the entire supply chain, so you can get feedback on what you're building from different companies and different stakeholders. I can't express how important this is. The construction process is highly risk averse, yet requires working with many stakeholders to deliver a project. In order to build a tool for the industry, the startup must understand the inner workings of their customer base and who they work with adjacently. You can apply for the program here: https://lnkd.in/g9fQHY5J We will start announcing the trainers for the program soon.. stay tuned! You can learn about the topics here: https://lnkd.in/gn47rAdA If you are interested in becoming a mentor, sign up here: https://lnkd.in/gW2wVm7w Please share this with your networks and feel free to reach out if you have any questions! Formwork Labs is powered by Brick & Mortar Ventures and BuiltWorlds.