I’m so excited about Superdraft, one of my recent investments made through our VC fund at Blue Field Capital. This innovative business is a project coordination platform that serves homeowners throughout the pre-construction phase. This is what the future of pre-construction looks like! It’s a platform that bridges the gap between property owners and professional designers, architects, engineers and others, paving the way for better project management for both renovation design development and new construction design projects. Having secured some early success in other markets, Superdraft is in a position to change the way people plan, design, and actualize their dream spaces.
The Proof is in the Business Model
I invest in companies that are disrupting entire industries, and I’ve learned that the ability to scale is one of the most important considerations. Superdraft is now one of the largest building management players in Australia. Their revenue has grown steadily and quickly, proving the viability of the platform to perform at scale, and cementing several reliable and predictable streams of revenue.
Platform Revenue Growth in 2020
With that trajectory, the team predicts that they could be the world’s largest coordinator of residential construction and home improvement within three years, handling 170,000 projects totaling $8 billion by 2025.
The key to their success is the point at which their client acquisition takes place—very early on. They attract homeowners when they are still in the dreamy ideation phase, and they become the tool that carries those consumers through to making tangible design plans, with the right professionals matched and the proper project management tools put in place.
Global Market Potential—No End In Sight
According to research from Freddie Mac, the market had a pre-pandemic shortage of almost 2.5 million homes. The latter half of 2020 saw a rapid acceleration in residential construction projects in order to meet the demand.
Entering 2021, experts (including the Mortgage Bankers Association) predict that new construction projects of single-family homes could reach more than 1 million annually for the next three years in a row, representing the fastest market pace we’ve seen since 2007.
A Fragmented Construction Industry—The Big Market Need for A Bridge
A Win-Win for Construction Professionals and Property Owners
Introducing New Offerings: The Superdraft Difference
Instant Quotes and Flexible Payment Options Can Generate Cash Flow
Project Planning Prowess
Profitable Site Stickiness
End to End Profitability
Superdraft is one of few viable competitors in this space, an early market leader well-positioned for serious sector disruption. The founders, Mark Deacon and Jake Robinson, have only made me more excited to be along for this ride.
Jake has 15 years of experience in tech, media, and professional services fields, and he’s well acquainted with what it means to engage with professionals across creative spheres. Mark, who was named GC Young Entrepreneur of the Year, complements Jake’s experience with a knowledge of the Australian market and an appetite to scale.
When I met the team, I knew the next phase of Superdraft’s evolution was in good hands.
One of the hallmarks of good startup energy is celebrating milestones—sales targets reached, new clients secured, number of website visitors or other target audience goals achieved. This company reminds me of my early days at Vungle because they are reaching their goals regularly and celebrating often. During my due diligence, I spoke with the founders often and sometimes, there was so much celebratory noise in the background, it was hard to hear them!
Jake, Mark, and the Superdraft team have built this platform in a way that captures both B2C and B2B revenue, proving the model with continual sales growth and sustained site traffic. They’re now focused on continuing to find growth opportunities, to lower CAC and increase LTV. Superdraft continues to earn more and more traction in the Australian market with every passing day.
I’m excited to see Dreamspace, its American iteration, take off in the US. In my opinion, it would come as no surprise to see this team dominate the market worldwide—and I’d put my bet on that happening sooner than people might think.