Year in Review
One year ago, Reggie and I stood on the Demo Day stage at the Audible Innovation Cathedral with our friends from NVP Labs (Newark Venture Partners’ accelerator program). We addressed an audience of approximately 400 people - investors, elected officials, potential clients, and the Newark community - and we told them Riskcast is the future of construction. “We are software for hardhats!”
When we went into the NVP Labs program in Spring 2019, Riskcast was made up of just Reggie and I as co-founders. We came into the program with 4 customers working about 40 projects, mostly in the New York area. Reggie was coding about 90% of the product and I was trying to learn how to sell software. We knew our core customer - thanks to decades of experience in construction and construction management - but the startup world was new to us.
With a full year in the rearview mirror, now seems like an important moment to take inventory. We are reporting back on our job progress - and we are applying data to our own mission, not unlike the way we believe it should be applied to your job site: to analyze progress, mark milestones, and enhance our decision making as we continue to grow.
Here is what’s changed in the past year:
- We have grown from a team of 2 to a team of 12. (We expect to hire 3 more by the end of the summer!)
- We’ve grown from 40 projects to more than 180 live at any given time.
- Employees in the platform have gone from 100 to over 1500 and a new customer coming on line in August will double that number.
- We are deployed with customers working on high profile projects from Moynihan Train Hall (Penn Station), One Vanderbilt, and East Side Access here in New York/New Jersey metro area, and all the way out to California where one of our clients is working to restore 100-year-old cottages to their original state with the original materials (managing production with over 700 individual cost codes!)
- NVP added to their investment to lead our pre-seed round and was joined by Scopus Ventures to close the round at $650K.
- We’ve added a range of features including a T&M Module and a Contact Tracing app
- We showed up for COVID-19, offering teams a way to stay productive and engaged while staying safe and working remotely. We also offered new teams 90-day free access during the pandemic to help keep construction projects moving forward.
- We created new digital assets - like this fancy new demo video!
- We were featured in Construction Junkie, Construction Executive, Engineering News-Record, ROI-NJ, and others
- We’ve guest lectured at Pratt and Kings College and we presented to the Society for Construction Solutions Chapters in New York, Boston, San Francisco, and Los Angeles. We have been to countless conferences and recently led a webinar with NECA. (NECA members can still view here)
- And just this month, we launched our platform’s smartphone capabilities, helping to lower the cost of entry, increase adoption among foremen, and enable more access to real-time data.
The past year has been one for the books. Not only have we hit and surpassed company goals, but we’ve also been able to support the industry we love some truly challenging moments in history. The COVID-19 pandemic has changed the way we interact, the way we do business and the way entire industries operate - and construction is no exception, with the transition to digital taking leaps forward in 2020. While the world continues to adjust, Riskcast will continue to provide workers, project teams and executives the tools and data they need to get ahead and stay ahead, no matter what comes their way.
We’re also looking to the future, and are excited to continue building features along with our team. By the end of 2020 we expect to launch several more tools to support field management, like ‘Intelligent’ JHA’s as well as analytics dashboards to support project teams.
Thanks to all who have supported us this far, and to those who haven't worked with us yet, we look forward to working with you soon.