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CalcTree

CalcTree is one of seven contech startups selected from over 185 applicants to participate in Suffolk Technologies' contest-focused 

BOOST is an intense six-week startup accelerator that connects technology startups in the built world with academics. Program partners include Autodesk, Procore, Moog Construction, and more. 

By leveraging Suffolk’s tremendous resources and national platform and partnering with innovative startups through the BOOST program, we are identifying the forward-thinking leaders, organizations, and solutions that will unlock our industry’s potential and eventually help us redefine the built world.

- Parker Mundt, Vice President of Platform for Suffolk Technologies

Suffolk Technologies is the venture investment affiliate of Suffolk Construction, ranked #23 on the Engineering News-Record list of “Top 400 Contractors", with $4.5 billion in annual revenue and 2,400 employees.

The construction industry today faces unique challenges in response to current economic conditions. Among increasing project complexities and a growing urgency for sustainable development, owners and contractors are confronting labor shortages, materials cost escalation, and supply chain disruptions. These significant challenges directly impact project outcomes. A recent survey commissioned by Procore Technologies, Inc. (NYSE:PCOR), a leading global provider of construction management software, found 75% of construction projects are over budget, and 77% are behind schedule.

Recognizing the immediate need to leverage digital solutions to address labor, supply chain, design, sustainability, and automation goals, three years ago Suffolk Technologies, the venture investment affiliate of Suffolk, created its BOOST program.”

Read more about the announcement from BusinessWire 

Participation in the Boost program for CalcTree means:

CalcTree joins Suffolk Technologies Boost Program

If you’re an Investment Analyst, Associate, Principal, or Partner, you’ll want to know who the existing backers are of a startup. It’s part of building conviction. We’ve written this article detailing our pre-seed investment round, including the investors who’ve come on board. 

At the end of this article, we outline precisely how you can reach us and the expected next steps to quickly determine whether CalcTree is a potential fit for your investment thesis.

We avoid cold starts where we can, which means attending to something before it hits the ‘Important / Urgent’ quadrant. This is part of the culture we’re creating at CalcTree, which you can read more about 

. Our preference is to build investor relationships well ahead of time where trust grows by following our updates and milestones. 

We were delighted by the response and interest we received for our first fundraising round. The calibre of investors we attracted made strategic sense to go beyond our funding target. We now have an engaged network of strategic and ‘customer voice’ investors helping us from day 1.

Funds are used to invest deeply into creating a product our users will love (aka a product-led growth model). In 

, we explain why we believe the contech space needs more product-led growth startups.

Below is a spotlight on some of the investors we’re proud to have onboard. In addition to those listed, we’re equally pleased to have a network of investors with the right mix of expertise covering the various dimensions of building a successful startup. We’ve enjoyed going on the journey together, learning from them, and getting support when required. 

The venture investment affiliate of Suffolk Construction ranked #23 on the Engineering News Record list of “Top 400 Contractors", with $4.5 billion in annual revenue and 2,400 employees. Through our partnership, we're creating a strong platform to kick off our entrance into the U.S.

An early-stage global VC and startup incubator where exceptional people build incredible companies. We were fortunate to receive our first check from Antler and incredible coaching from their brain trust of advisors.

Sean McCreanor (Co-founder & CEO, Assignar)

Highly experienced, connected, and capable construction tech founder and serial entrepreneur. Recently raised Assignar’s Series B (over $20M USD), adding Tiger Global Management, Fifth Wall, Ironspring Capital, Second Quarter Ventures (which includes Aconex founders Leigh Jasper and Rob Phillpot as LPs), and other notable VCs onto the cap table. Sean is an LP in a number of venture funds, both in the US and Australia. The most recent direct contech investments are Mastt (series A) and Sarus Lifting. On the board of several companies, providing founders with coaching support on product management, go-to-market, US market expansion, raising capital, governance, structure, and more.

Seasoned tech leader and founder. Built Assigner from scratch into a globally leading construction tech software company. With 8 years as the CTO of Assignar, Marko now has a wealth of knowledge in the contech space. He also regularly contributes to publications and articles about construction technology. He has a proven track record of helping startups achieve scale by finding their Product Market Fit and choosing scalable and modern technologies that support sustainable growth.

Currently an enterprise GTM leader at Bentley, one of the world's largest infrastructure engineering software companies. Prior to that, Nick was the Global Business Development and Channel Manager at Arup (a global top-tier engineering design firm), responsible for market and business development for engineering products and services in the Software Technology Group.

Adam Walmsley (Account Executive, Autodesk)

With a structural engineering background, Adam was previously a practicing engineer and BIM manager. Now at Autodesk, the largest engineering software company in the world, Adam works closely with engineering teams to improve their digital design and engineering practices. We look forward to continuing tapping into his insights on the gaps and opportunities he sees for CalcTree from his vantage point and experience.

Enterprise software executive with a strong business and tech background. Previously Chief Strategy Officer at Acumatica and Head of Product Management and Planning at Microsoft. At Acumatica, Ajoy led the growth of their platform into the construction industry, which ended up being a significant part of their revenue portfolio. He regularly helps startups with their product/market fit, SaaS pricing, and GTM approach. LP in a fund, angel investor, and steering committee member of a fund to scout early-stage investments. Invested in startups across multiple industries including fintech, ESG, and construction. Sits on the board of contech platform Omnidek.

Jon Abitz (Co-founder & CTO, Stealth-stage Startup)

Previously Co-founder and CTO at Stake which recently completed a $90 million Series A funding from Tiger Global and DST Global Partners. Also previously CTO at Fusion Labs (acquired by Deloitte) and angel investor in FL0.com. Seasoned technology leader offering mentoring and advice on building a globally scalable platform and tech team.

Seasoned business leader, active angel investor, and ex Executive Director at Macquarie. An investor in a number of different technology companies in various early stages. These include companies involved in manufacturing tech, asset monitoring tech, carbon offset, blockchain, and fintech. Previously started and sold his own company and understands the effort and commitment it takes to succeed.

Nima Montazeri (Head of Product, Babylon)

Babylon is one of Europe’s largest HealthTechs with over 1,000+ staff. Nima's role at Babylon is to scale the product and launch it in 15 countries, taking it to $1B ARR. Previously Head of Tech for Thoughtworks Ventures, where he advised many startups on their product and tech strategy. Investments in early-stage startups include Monzo, Deliveroo, Wrisk, and City Falcon.

Has worked in venture capital for over a decade, from fund management to advisory and capital raising. Once MD for a biotech company, also an angel investor in early-stage companies. Recent investments include Urban.io, Mother Labs, Vyro, and Our Leg Up.

To reiterate, we aim to build high-trust, long-term relationships with VCs who want to back our journey. Starting now, so they have the time to get a solid grasp of our vision and the team behind it. 

We know what metrics to focus on for our next round, and we’re laser-focused on hitting them. 

Here’s what we’re looking for from potential incoming VCs:

If you’ve liked what you’ve read so far and want to know more, here are the next steps to follow:

We hope you enjoyed this update and look forward to hearing from you.‍

Meet the investors behind CalcTree

This is a great write-up by the Antler team about the early days CalcTree. Click the image below to access the article.

Check us out in the Antler network!

Over the last six months, we've been building 

It’s hard to believe that an idea generated over copious zoom calls during a global pandemic has now turned into a legit company with backing from an amazing global VC.

 team for supporting and guiding us through this journey!!

Antler undertakes hundreds of hours of due diligence and extensive research before making an investment decision. Their backing is a huge vote of confidence for our mission and our vision. We’re super excited to use the capital to accelerate our next stage of growth!

Also, a big thank you to everyone we’ve interviewed to date. We do appreciate you taking the time to work with us and help shape CalcTree. The platform we have cooking is a game-changer and every one of you had a part to play in that - thank you!

Check out Antler's full set of investments in other start-ups in our cohort 

We’re currently deep in product and tech development, building out the 

 platform, so keep an eye out for our beta launch in 2022!! 🚀