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Despite its impressive size over $186 billion dollars in 2022 – Mexico's construction industry continues to face great challenges such as:
Fragmented Communication.
Inefficiency hinders project completion times and budgets, even as the market itself experiences a projected slowdown, with an AAGR of less than 1% expected between 2024-2027 (GlobalData).
Enter Buildpeer.
Buildpeer is a construction project management software on a mission to bring real-time collaboration to the forefront of the industry, specifically designed for construction teams to work together seamlessly.
The Seed
Mauricio Valdes, founder of Buildpeer, found his inspiration in 2018 while interning at Build Group, a private construction company in the San Francisco Bay Area. His involvement in numerous projects across the Bay Area opened his eyes to the numerous obstacles encountered in large-scale infrastructure development, particularly the communication hurdles among various subcontractors. This experience was further amplified when he returned to Mexico and worked on a significant hotel project in Monterrey, underscoring the challenges he had observed in the United States.
“In this project (Hotel Project in Monterrey), Teams were relying on WhatsApp and Slack which are limited for communication purposes, while for document sharing they were using Google Drive and Dropbox but this softwares didn't handle workflows, and finally some Larger companies were using project management tools such as Basecamp, Monday, Notion, Asana, etc., which are not specialized for construction management. I knew there had to be a better solution” - Mauricio Valdes
Customer-Driven Growth
Valdes leads with a customer-centric approach, prioritizing user feedback to continuously adapt and improve the software. Buildpeer initially targeted small and medium-sized businesses (SMBs), but has successfully expanded to serve mid-market and enterprise clients as the platform's capabilities matured.
“Customers are definitely asking for more – financial services integration, AI, BIM, you name it”, Maurico told VC Mexico, “We're a problem-solver, and we want to offer solutions for people’s challenges. However in 2018, construction software wasn't quite there yet. “Poker” had some good project management features and a decent financial module, “PlanGrid” had a great field-centric setup, and “Trello” excelled with its task boards. I used them all, and my idea was to combine the best of each into one killer platform.”
Building Resilience
The road for Buildpeer hasn't been without hurdles. Convincing established "behemoths" in the construction industry to embrace new technology is a challenge Buildpeer readily acknowledges. Additionally, finding skilled technical talent within Mexico presented another obstacle to overcome.
Despite these challenges, Buildpeer has secured pre-seed funding and grown its team to roughly 15 employees, with a current focus on expanding the the sales team. This growth reflects the exciting opportunities Valdes sees in a construction industry increasingly receptive to technological solutions.
Team
Funding
$2M, (Pre-Seed) Numundo Ventures, Buildtech Ventures, Brendan Iribe (Co-founder of Oculus VR), and Angels investors.
Bridging the Gap in Construction Technology Adoption
The construction industry is ripe for technological advancements, but a major hurdle often stands in the way: employee resistance to change.
KBKnowledge's latest ConTech report reveals a staggering 35% of employees resistant to new technology adoption.
Buildpeer’s response…prioritize “user friendly” software solutions for all parties to use on the jobsite.
Fast Implementation, No More Wasted Time: Buildpeer eliminates the standard software onboarding headaches with a streamlined onboarding schedule. No more weeks of training woes – Buildpeer provides comprehensive training sessions in under an hour, along with ongoing support to ensure your team has the knowledge needed to hit the ground running.
Intuitive Interface, Effortless Productivity: Buildpeer prioritizes the user experience. Their software boasts an intuitive interface designed specifically for construction project management. This user-centric approach empowers everyone on your team, regardless of technical background, to navigate the platform with ease.
Traction
Today, Buildpeer has over 3k active users across more than 250 jobsites.
Market Opportunity
Latin America's construction industry is a colossal force, currently valued at a staggering $676 billion dollars. This figure is projected to climb even higher, reaching a projected almost $843 billion by 2029, with a healthy growth rate of 5% annually. Fueling this surge is a potent combination: a growing demand for real estate and infrastructure across the region (Mordor Intelligence).
This presents a golden opportunity for Buildpeer.
- Addressing Inefficiencies: Buildpeer tackles fragmented communication and information sharing in traditional methods by offering a centralized platform for real-time collaboration, streamlining workflows and reducing delays.
- Unlocking Potential: Buildpeer empowers construction teams, leading to faster project completion, improved resource allocation, and overall cost savings for the industry.
- Scalable Solution: Their adaptable software caters to companies of all sizes, from small businesses to large enterprises, ensuring they can grow alongside the expanding construction market.
Advice for Aspiring Entrepreneurs
Mauricio Valdes’s 3 golden rules for success:
- Always Give Your Best Work: Put in your absolute best effort, no matter the project. You never know who's watching and what opportunities might arise from your dedication.
- Find the Root Cause: Don't jump to solutions without understanding the core problem. Analyze the situation thoroughly, gather information, and identify the real issue you need to address.
- Get a Mentor: Find a trusted advisor who can offer guidance and reality checks. They can challenge your ideas, provide solutions, and help you stay focused on achieving your goals.
