Where the Market Stands
Since we last spoke, the picture in our space has snapped into focus. Scale Venture Partners recently mapped our vertical and placed SubHub on its competitor grid — and it puts in stark relief how differently we’re solving this, and why that gap matters.
Most of the market is chasing vision-only models and getting pulled into narrow niches. Bobyard raised $35M just to automate takeoffs for landscapers; BILD AI is focused on counting doors and windows for residential. Each is already doing millions in revenue — proof there’s real money in single-trade automation — yet none can cross into the GC’s world, where you have to automate the same estimating process across 30+ trades at once. On the approach everyone else is taking, that capability looks years away.
Until now.
The Breakthrough
SubHub just crossed the line no competitor has reached. In practice, that means:
What we’re focused on now
- Accuracy across the full range of trades no one else can touch.
- Deep adoption and retention with our early GC partners.
This is the step that actually changes construction — and we’ve made it instantaneous instead of manual.
03 · Live Demo
Get your hands on it.
We built you a live, hands-on demo. Sit down at the keyboard and feel what it’s like to collapse months and hundreds of thousands in labor — running a product the closest competitor can only do for slices of a single trade.
One real $100M+ project. Every discipline:
+ everything in between
Launch the Live Demo ↗Opens in a new tab.
Team
We’ve brought on two people who map directly to that vision — one who has built the hardest 3D-to-2D problem at the highest level, and one who has run preconstruction on some of the largest projects in the country.
- Interaction-algorithms engineer on Apple Vision Pro — built core eye- and hand-tracking input.
- Named inventor on Apple’s patent for input recognition in 3D environments.
- Stanford CS + product design — specialized in turning 3D environments into 2D surfaces, exactly SubHub’s core problem.
Chase is building the long-term architecture that lets SubHub own automated takeoffs today and become the operating system for the start of construction — beginning at the source: the project files. It’s the Salesforce play — land the vertical, then add the workflow as customers grow.
- ~7 years at Turner Construction, the largest general contractor in the U.S.
- Led 20+ estimators across multibillion-dollar builds — including SFO Terminal 3 and a ground-up NYU campus.
- Lives the preconstruction workflow SubHub automates — and speaks estimators’ language.
Shah turns that depth into product feedback loops and go-to-market traction with our enterprise partners — the bridge between what the product must do and the people who’ll stake their bids on the answer it gives.
Why SubHub Becomes the Medium
Every bid in commercial construction has to pass bid leveling — subcontractors level their estimates to the GC’s standard for a bid to be binding. That makes whatever medium the GC chooses non-optional for everyone bidding the job. Here is why that medium becomes SubHub — top down, in numbers.
It cuts one of two ways. Either the market resets to thin margins and you cannot afford to be the last shop estimating by hand — or you bank up to 5× margin while everyone else catches up. Either way, the bid runs through SubHub. That is what it means to be the medium.
Construction runs on three parties — the owner who funds, the GC who coordinates, the subs who build — joined by one chain. Our architecture maps onto it directly: GCHub, SubHub, and OwnerHub. Automate one node and the other two follow.
Net-margin and bid-conversion figures: CFMA 2024 Construction Financial Benchmarker; ConstructConnect bid-hit benchmarks. The 20%→2% cost-of-acquisition compression and resulting ~5× are SubHub’s model of the spread.
The Flywheel
From there, growth runs along the construction chain itself:
No trade-specific competitor can expand this way. The flywheel only turns if you sit across the entire chain — which is exactly where we sit.
We mapped the entire field — and we’re not close. We’re ahead.
We scored SubHub against the market on every dimension that decides a bid. The full analysis is built right into this update — open it and explore it live.
Where We Are Going
We’re deepening relationships with early go-to-market GCs — from enterprise contractors like DPR and Swinerton to owners of construction firms — and validating real go-to-market revenue.
Right now the work is understanding what lets us scale: retention, the ability to drive a company-wide change, and every other go-to-market factor that — once solved efficiently — lets us go wide and deep. We’re deliberately testing this across a wide variety of early partners.
The plan is to scale as far and as deep as we can inside these GCs — embedding into their workflows while staying largely in stealth.
A large part of our edge is technology no competitor has reproduced, and we intend to keep it that way for as long as possible — validating the full go-to-market funnel for scale before anyone knows it exists. Once retention, accuracy, and revenue are proven over time, we expect to time a public launch with a Series A later this year. Given the size of these firms, converting these partners over the coming months could support a very healthy raise.
How You Can Help
We want to load our pipeline as much as possible — while staying as quiet as possible. This is where our cap table comes in.
Everyone knows someone in construction or real estate. Whoever that person is, they know a lot of people — and that is all it takes. The people worth meeting right now — not just for their own time as a client, but as investors who can open their networks:
- Owners who develop projects and real estate.
- Commercial construction GCs.
- Subcontractors at the commercial level.
One introduction can open dozens of partnership opportunities across the entire construction chain.
This is the way construction works — and the way every company in our space has scaled. Any introduction to the right individual is genuinely valuable.
It’s time for change.
Thank you for your continued support.
