These 25 up-and-comers are making a mark in Chicago-area technology. A number are entrepreneurs starting companies using ...
Note: This deal is is being conducted on an expedited basis due to circumstances relating to COVID-19 and pursuant to the SEC's temporary regulatory COVID-19 relief.
The construction industry is broken
Construction is a complex industry, as every job site includes 50+ companies dependent on one another to achieve their goals. However, these goals are not aligned. Unfortunately, fragmented workflows add cost and risk to construction projects. Despite construction being one of the oldest industries, it’s one of the least sophisticated, and construction projects fail at an alarming rate.
While there have been recent innovations and digital transformation within the industry, construction continues to have the 2nd highest suicide rate of all industries. Why? The majority of construction projects over budget, their people are overwhelmed, and finger-pointing and legal disputes are common.
DigiBuild: saves time, money, and headaches
DigiBuild is solving for the industry's most significant pain points—risk mitigation, supply chain management, and inefficient payment processing.
DigiBuild is creating a new category within construction management software by utilizing blockchain technology to offer unprecedented results in the construction industry. Our distributed blockchain networks represent the next evolution of construction software applications that creates a verifiable single version of truth amongst construction stakeholders (Owners, General Contractors, Subcontractors, and Suppliers). All the companies involved benefit from unprecedented automation of workflows, risk reduction, and data insights to power better decision making.
DigiBuild's founders are also committed to reducing suicide incidents and improving mental health within the industry.
There is a better way, and our mission is to build construction blockchain solutions and connected platforms to create a healthier and happier global construction industry.
So why build on blockchain?
Everything is tracked and visible through blockchain, ensuring that everyone on construction projects works from the same information. The construction industry is comprised of complex arrangements, often between distrusting parties who rely on intermediaries and lots of paperwork and human time to manage risk and disputes. With DigiBuild, all doubt is eliminated! All transactions are recorded and cannot be altered, critical documents are automated and authenticated, creating a massive reduction in paperwork and fewer disputes. All in an easy to use interface that saves project managers time.
- Create payments and lien waiver contracts 4X faster
- 50% less expensive 'discovery' time
- Saves 20% of valuable Project Manager time
- Speeds up and improves cash flow
The result will be a happier workforce, happier clients, and a well-respected construction industry.
Construction management software
DigiBuild is a blockchain-enabled construction project management platform. Our customers manage workflows such as procurement, budgets, schedules, contracts, and payments. DigiBuild allows for collaboration across 50+ disparate construction stakeholders–all on a single platform.
We are the first to merge our construction management expertise with blockchain to create the world’s most revolutionary technology bringing risk management and visibility to your projects.
Through verifiable collaboration, we eliminate risk, disputes, save time and create a healthier and happier global construction industry.
Customer Driven Product Development
20 largest construction companies have provided direct feedback
100 additional companies interviewed for customer discovery
3 Core Problems: Supply chain, payments, and contract and risk management are the most important unmet needs in the industry today
Supply Chain & Procurement:
DigiBuild’s platform allows General Contractors, Subcontractors, and Suppliers to collaborate across all material purchases, order management, and deliveries from the start to the end of each project.
Place and manage orders
Track order deliveries to job sites
Guaranteed Truth Project Timeline:
DigiBuild’s platform captures all stakeholder transactions across any connected platform (as an API), creating a 'truth timeline' for each construction project. All transactions are captured in a searchable, filterable, and comparable timeline, reducing paperwork, eliminating disputes, and expediting payments.
The origin of each transaction, because it is captured in a blockchain database, is secure, can be trusted, and is verifiable in court. Benefits are increased visibility to improve forecasting. Fewer disputes and potential risk. Saves valuable legal and staff hours by more than 50% when “discovery” is necessary.
When it comes time to get paid, requesting payments for Subcontractors and General Contractors is streamlined, and critical lien waiver document collection is automated and stored in the blockchain using DigiBuild’s smart contract feature. This functionality is 4x faster than other leading solutions saving Project Managers significant time, improving cash flow, and reducing payment risk.
Backed by industry leaders
DigiBuild, backed by strong customer demand, will bring unparalleled trust and visibility to client projects. With ten of the top construction companies in North America, we run the largest blockchain pilot in construction.
Together with IBM Blockchain, DigiBuild held a Joint Innovation Summit, where we met with 20 industry leaders and validated the need for our platform.
Support at a Glance:
Strong Customer Demand; 30 of the largest construction companies are customers and beta testing
Only blockchain technology firm in Construction Standards Body to set industry best practices
Through Standards Body, we are leading the largest North America blockchain pilot in construction
Raised $340K pre-seed capital from early-stage blockchain investors
Streamline projects & manage risk
Primary: General Contractors, Subcontractors and Company Owners
Future: Suppliers, Architects, Insurers
Top ENR (Engineering News Record) companies identified Supply Chain Management as their number one priority during a joint innovation summit with DigiBuild & IBM.
Projecting revenue worth $68M+ by year 5 of operation
DigiBuild employs 3 tiered business model;
- SaaS subscription model creating a recurring revenue model
- Incremental services such as charging for credit reports
- Fees on transaction volumes and data
With these three revenue streams, we project revenue of $68M+ by Year 5 of operation.
SaaS Subscription Model:
$50/month/user • $1,000 per credit report • Future: % of fee on transaction volumes and data (similar to current models)
Primary: Subcontractors, General Contractors, Company Owners Future: Suppliers, Architects, Insurers
$9B total addressable market
The entire construction industry is worth $10T. Out of that, DigiBuild is targeting a $9B TAM. Our SAM is $300M. We plan to execute events that will boost client recognition, leverage our Standards Body role and North American Construction Pilot and engage in a scaled marketing campaign. Our initial target customers are the top 10 US construction stakeholders. We are the only technology participant, which affords us a massive market advantage.
Best of high automation with trusted and secure technology
DigiBuild outclasses other competitors in the field by offering an incomparable platform. Our all-in-one blockchain technology means that we're the safest choice on the market. Our partnership with leaders in the construction industry means we already have significant market traction.
Many competitors claim to create a ‘single version of the truth,’ but it is only a claim. Blockchain technology and smart contracts are the only searchable, auditable, and permissible claims by law. DigiBuild’s platform offers the ‘only verifiable truth,’ which is why industry leaders are enthusiastic about our blockchain platform.
Revolutionizing the construction industry
And our mission is to build construction blockchain solutions and connected platforms that create the only true version of the truth. In this collaboration, we eliminate risk, disputes, save time and create a healthier and happier global industry.
DigiBuild has received immense support from the construction industry, as well as considerable interest. With your investment, we will bring on 25 new customers and launch new platform innovations and product offerings.
$340K in pre-seed capital raised
DigiBuild has raised $340K pre-seed capital from construction and real estate investors.
Money was invested in developing DigiBuild's MVP, continued build-out, and beta testing. DigiBuild's core offerings include;
- Guaranteed Truth Project Timeline
We are currently raising funds to support phase one of our Procurement Platform, which will support expansion and supply chain management. We plan for the platform to be released in the first quarter of 2021.
Rob Salvador is the visionary driving force behind DigiBuild, an experienced builder, project manager and construction technologist. Since the age of 10, Rob has witnessed what it was like, firsthand for his Dad struggling to run his construction company. Rob eventually started his own construction company and those experiences and the lack of change over that timespan led to his mission of creating a better way to operate construction projects and the construction community. Rob’s passion and previous cryptocurrency startup experience is what led to him becoming a blockchain expert. In 2017 he had his ‘aha moment’ and the idea of 'how to' apply blockchain to construction took form and DigiBuild was born.
Background includes: Managing $500M+ in construction projects. Serial Entrepreneur with a focus in: Construction Mgmt, ConTech, Proptech, Blockchain Technology, Enterprise Blockchain Implementation, and Investment Analysis. Blockchain consultant and educator. Cryptocurrency enthusiast and Bitcoin believer. Named to Crain's Chicago Business "25 Rising Stars in Tech".
April Moss, is a 20+ year market & retail strategy executive developing sales teams with some of the largest global companies, including Procter & Gamble and Starbucks.
Ivan Franco, is a blockchain savant with 5+ years of full stack development experience with MERN/MEAN and AWS microservices and blockchain developer.