Founded Blog, Founded Work | June 20, 2019
‘Constructech’ – A Quiet Revolution
By Damian Mcgee, Managing Director
Investment in technology is driving disruption and transformation across the business world and one sector that has had more reasons than most to invest is the construction industry.
Recent analysis showed that over 69% of projects run over budget and schedule, commercial performance is dire and the media is full of stories of businesses struggling to manage risk and debt. It’s fair to say that the sector is perceived to be the ultimate innovation laggard with observers pointing to its unique complexity creating inertia and slowing the pace of change.
Yet scratch a little below the surface and not all is as it seems. Across the industry, innovation is bubbling with digital and mobile technologies taking transformation beyond the back-office to drive productivity, operational efficiencies and better risk management across the sector’s front-line.
Investors and acquisition hungry global technology giants have taken note and are now viewing ‘constructech’ as the hot new space. And our client Causeway – a leader in that space for well over a decade – has seen the opportunity too.
With customers proving the value in their solutions and US peers like Procore featuring in Forbes as one of California’s hottest unicorns, the leadership team secured new growth financing and are now investing in M&A, technology, new talent plus the brand.
Founded has worked with the business over last few months to help take their marketing forward – deploying our Growth Accelerator Service to develop a new brand positioning and story, organise solution and product messaging, develop a refreshed visual identity, launch a new website and most importantly of all initiate demand generation programmes.
It’s been a rapid journey but in a very short space of time we are confident that we have created a platform that will accelerate pipeline growth and brand leadership in the emerging ‘constructech’ space.
It’s clear that the opportunity for Causeway and its customers is huge – just recently McKinsey said that if construction businesses could reach the productivity levels seen by businesses in the broader economy that would unlock over $1.6tn in value. We’re looking forward to helping the Causeway team capture that opportunity both in their home UK market and internationally.
If you would like to hear more about our Growth Accelerator Service please get in touch and we’d be delighted to share the work we have done for Causeway and other recent projects.