$1.3 Million Blue-collar Bullion in Construction Tech

Failing to Success

Company Stats:

• Founded: May 2023
• Capital Raised: $1.3 million in September 2023
• Number of Employees: 7
• Monthly MRR: ~$15,000
• Q1 Revenue for 2024: $210,000
• Customer Base: 70 software users

Episode Highlights:

• ✅ Bryce Wuori successfully transitions Pavewise from a bootstrap to a funded venture, securing $1.3M from investors.
• ✅ With a background in construction, Wuori innovates within a traditionally tech-resistant industry, focusing on efficiency and automation.
• ✅ Pavewise demonstrates early revenue success, boasting a $210,000 quarter and growing customer base, signaling strong market fit.

Episode Summary:

In this enlightening episode, Bryce Wuori, CEO of Pavewise, delves into the transformative journey of revolutionizing road construction management through technology. Founded in May 2023 and having raised $1.3 million by September, Pavewise has quickly established itself as a significant player in the construction tech industry. With a monthly MRR of about $15,000 and a remarkable quarter generating $210,000 in revenue, the company's early success is evident. Wuori's background in construction, spanning over 20 years, has equipped him with the insights necessary to navigate and innovate within a sector traditionally slow to adopt technology. By focusing on automating mundane tasks, Pavewise liberates construction professionals to concentrate on what truly matters, showcasing the potential of technology to enhance efficiency and productivity in construction management.

Notable Questions We Asked:

Q: What inspired the creation of Pavewise, and how did you identify the need for technology in construction management?

A: Bryce shares his journey from a lifelong construction industry participant to an innovator, highlighting the gap in technological adoption within the sector and his motivation to fill it.

Q: How does Pavewise tackle the challenge of introducing technology to an industry resistant to change?

A: Discussing strategies for overcoming resistance among traditional industry veterans, Bryce emphasizes education, trust-building, and showcasing tangible benefits of technology.

Q: What factors contributed to Pavewise's rapid revenue generation and customer growth?

A: Bryce attributes early success to an existing customer base, thorough market testing, and timing the market entry correctly, ensuring readiness and demand.

Q: How important is mentorship in your journey as an entrepreneur and CEO of a tech startup in the construction industry?

A: Reflecting on the role of mentorship, Bryce highlights the impact of guidance from industry veterans and the importance of passing on knowledge to foster innovation.

Q: What advice do you have for startups facing rejection and seeking to break into traditional industries with new technologies?

A: Bryce advises persistence, understanding the sales process, and the importance of building trust and relationships over time to convert skepticism into partnership.

Chapters:

00:00 Intro

00:06 Company Stats

01:05 Construction Tech

01:57 The Origin Story of Pavewise

02:59 Industry Resistance

03:56 Keys to Early Revenue and Raising Capital

05:19 Mentorship and Transformative Experiences

06:57 Persistence in the Face of Rejection

08:02 Connecting with Pavewise

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#ConstructionTech #Pavewise #StartupFunding #TechInnovation #RoadConstruction #Entrepreneurship #StartupGrowth #ConstructionIndustry #Automation #Technology

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