Bricks And Bytes Podcast

Tom Deane – ProjectMark – Q&A

tom deane project mark construction crm

This Q&A is taken from the full podcast episode we recorded with Tom.

Q: Can you tell us about your journey from college roommates to co-founders of ProjectMark?

A: My co-founder Noel and I have known each other for over 17 years, starting as college roommates. After gaining extensive experience in the construction industry, we recognized a significant problem in business development and marketing workflows. Inspired by the emergence of construction technology, we decided to start ProjectMark, a CRM built specifically for the construction industry.

Q: What makes Project Mark different from generic CRMs? 

A: Generic CRMs often require extensive customisation and can be challenging for technical teams to adopt due to their feature-rich nature. ProjectMark is tailored specifically for the construction industry, focusing on projects rather than deals. Our platform combines sales enablement, content management, and a data hub alongside RFP and proposal generation, addressing pain points that would otherwise require multiple software solutions. 

Q: How did you fund the early stages of ProjectMark?

A: We initially put our own money together to build an MVP and validate the concept. Our early clients, who were construction executives, reacted positively to the idea, and some even invested in the company. This allowed us to raise $500,000 from construction executives and early clients, giving us the confidence and drive to continue building the product. 

Q: You recently raised a $3 million seed round. Can you share some tips for founders looking to raise money?

A: Building momentum is crucial when raising funds. Establish a strong network of VCs and founders, attend industry events, and leverage podcasts to learn about potential investors. When you’re ready to raise, communicate with all the VCs in your network and ask your founder friends for introductions. The more momentum you build around your fundraising efforts, the quicker VCs will move.

Q: How do you collaborate with your investors post-fundraising? 

A: We maintain regular communication with our investors, updating them on the company’s progress every 6-8 weeks. Our investors provide valuable support in areas such as networking, go-to-market expertise, product expertise, and technical expertise. The more transparent you are with your investors, the better value you can get from your investment team.

Q: What are your plans for the future of ProjectMark

A: We’re constantly enhancing our core product based on client feedback and market trends. We see great opportunities in AI and the data we collect to make it easier for companies to enter, absorb, and understand their data. While we’re currently focused on the US and Canadian markets, we recognize the potential for expansion, as construction professionals worldwide face similar challenges in tracking opportunities and managing data.

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