Built's Path to becoming a $1.5B Construction Tech Unicorn

Bricks And Bytes

Note : This episode is a re-release of an episode that was initially released at Groundbreakers.

"It turns out in construction and real estate, there's a lot of big problems. There's an abundance of them." - This candid observation from Built Technologies' CEO perfectly captures why construction tech is ripe for disruption.

In our latest conversation with Chase Gilbert, he reveals Built's journey from working with three community banks to becoming a construction tech unicorn that processes over $200 billion in annual construction spend. He breaks down the strategic decision to start with lenders and how it became their path to industry-wide transformation.

Tune in to discover:

✅ Why "following the money" upstream was the key to market penetration

✅ How they turned an 11-person process into a 2-person operation

✅ The strategy behind reducing loan processing from 5 days to same-day

✅ Why being "long-term greedy" is crucial for sustainable growth

Listen to the full episode on Spotify to hear Chase's complete breakdown of building a construction tech unicorn.

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Chapters

00:00 Intro

02:28 Building a Unicorn in Construction Tech

05:04 Identifying and Solving Industry Problems

06:40 The Genesis of Built Technologies

18:16 Revenue Generation and Business Model

26:56 The Importance of Following the Money

30:52 Efficiency Metrics and Impact on Lenders

38:05 The Landscape of Construction Loans

40:42 Navigating the Banking Ecosystem

44:19 Go-to-Market Strategy for Financial Institutions

49:23 Value-Based Pricing Models

50:06 Key Lessons in Scaling a Startup

53:28 Building and Maintaining Company Culture

59:37 Understanding Unicorn Valuation

01:11:01 The IPO Journey and Long-Term Vision