Click above to get the update in video format
Click above to get the update in video format
"In five years, the use of AI and machine learning tech will be the rule in the construction industry rather than the exception."
-Civil & Structural Engineer Media
Thank you for checking out our quarterly update 👍
The GMS is a GPS specifically for construction contractors. They put in what they want to do, and the GMS uses artificial intelligence to mine, analyze, and leverage, their historical and real time data to autonomously optimize their estimates and schedules...eliminating up to 20% on labor costs!
💻Product Updates:
We’re in the middle of our accounting and CRM development, scheduled to be completed at the end of this quarter. Most CRMs manage prospect communication and follow-ups, as does the GMS. But the GMS goes beyond, taking into consideration the CRM data, but also data from historical projects, estimates and accounting, to provide more relevant follow-ups to increase sales probabilities, and more accurately forecast coming commissions, and revenue for the subscribing business above and beyond just active projects.
Did you know that a horse can pull a cart weighing 6,000 pounds?
So what do you think 2 horses working together can pull?
The assumption would be, 2 horses, so twice the weight right? 
Well…in actuality, 2 horses can pull 3 times the weight that 1 horse can pull, and that’s exactly what the GMS does as an enterprise platform! Each component of the GMS, whether it be the CRM, Accounting, Scheduling or Estimating, working together creates outputs that exceed what each component can do individually, making the GMS a power house for our subscriber. On top of that, our integration with Open AI’s Chat GPT for instant honest communication 24/7, makes this powerhouse a dream come true. Our integration with open AI/Chat GPT is complete, you can view our test case through this link.
💼Business Development:
Because we don’t have a business without a product, our focus was primarily on product development over the last year. But we’re making great progress on the business side of the GMS too. All of our accounting since inception is now officially in QuickBooks. We’ve hired one of the best start-up law firms in the state that has reviewed our terms with contractors and investors, bringing everything in line, submitted everything required to the SEC, and is positioning us to be a favorable investment opportunity.
📊KPIs & Core Metrics:
We did struggle with fundraising in the beginning of 2023, so development was hindered for 6 months. We'll targeting starting BETA testing this April, only 4 months behind, but 2 months earlier than the delay positioned us because we’ve been exceeding our forecasted development milestones.
💰Finances:
We’ve raised another $75K this quarter, in total $375K, not including the $12K in non-dilutive funds collected. With an additional $90,000 from Wisconsin Economic Development Corporation's (WEDC) technology development loan, the MVP is just about fully funded! We are continuing to fundraise for the remaining $225,000 investment needed to complete GMS BETA testing starting in April, which will prepare the GMS for an official market launch in August.
😓Lowlights:
I thought we had a verbal for another $50,000 investment. This wasn’t realized, which impacted our runway, and decreased the amount we’re eligible for through the WEDC’s technology development loan by $12,000. It’s just a little discouraging having to take more time for fundraising because it takes from my efforts required in product development, marketing, and relationship creation with material manufacturers and contractors.
🏆Highlights:
We’ve onboarded a new team of UI experts. Our current team is still in charge of the GMS initial release, but the new team is studying the industry, interviewing users of our competitors software's, learning frustrations and desires, and doing a holistic overhaul of our user interface to simplify use, increase efficiency, and decrease clicks to accomplish objectives.
📰Press:
The GMS was selected and invited to pitch at Wisconsin Technology council's Early Stage Symposium designed to
unlock entrepreneurial potential introducing up and coming companies to investors. The feedback and relationships being developed are helping us get to where we’re going.
Also we’re starting to garner national attention have been interviewed and featured in:
- LA Weekly, has over 4 million monthly readers (click here to read)
- Digital Journal, which has over 1 million monthly readers (click here to read)
And local publications have followed suit, publishing articles about the GMS like:
🆘Help Wanted:
Introductions to:
- Construction Contractors
- Construction Material Manufacturers
- And Interested Investors.
🙏Thank You!
We need to send a few shout outs. We wouldn’t have made it this far without the support and sacrifices of:
- Steve Rankin and Steve Plucinski, who are subject matter experts that have been working with and helping our developers improve the GMS user experience.
- Kris Warren, for backing us and his desire to provide office space to help us continue to grow and create jobs in the Madison community.
- Tom Still & Joe Kremer of the Wisconsin Tech Council, for all the efforts to help us and others bringing new market solutions.
- Attorney Joe Boucher who’s taken us under his wings. The Neider and Boucher Law Firm is experts in startups and is making sure the legal foundation of the GMS will be solid beyond our lifetimes.
- Dennis Barnum for all the mentoring you’ve done for us and others, and the referral to Joe.
I also wanted to thank you, our encouragers and supporters!
Thank you for however long, and in whatever capacity you’ve been alongside us in our journey, and we’re looking forward to the coming years, especially for every time our paths get to cross.
Please keep checking out our quarterly updates, you may, or someone you know may be able to help us, or maybe you would like to learn more about how the GMS can help you, your family, friends, or contractors you know.
Welcome, to the new world of AI B2B SaaS, that will revolutionize the construction industry.
You are awesome and appreciated!
Keep making life wonderful 🙂
-Tommy & the GMS team
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