CostCertified, Backed by Y Combinator, Raises $ 8.45 Million to Build "Amazon for Construction" - TechCrunch
Summary
CEO Mike Bignold partnered with David Vass to launch CostCertified in 2017 after running his own construction business and realizing the need for contractors to provide estimates in a more modern way. “And that job ended up being delayed as a result.” Bignold, who did coding at the university, developed a simple prototype of an application that generated a document with a project cost estimate that was emailed to potential clients. Basically he had built a quote engine that gave entrepreneurs a way to provide consumers with an “interactive and purchasable experience” while running a project. The SaaS platform rolled out of beta in early 2021, and today CostCertified has $ 72 million annualized GMV, and says it has grown 2.203% year-on-year (although from a small base). “We’ve leveraged our capabilities by bringing retailers, the people who sell items like countertops and plumbing fixtures, into the point of sale,” Bignold said.