Lustro Comments

Discuss this Deal with other Investors


Construction workflow software. All projects. All data. One platform.

Claim My Business
Security Type
Technology, Other, Service Businesses, Infrastructure
Min Investment
Boston, MA
Expected Close Date
April 29, 2024
Target Raise
No. Investors
Security Price
Number of Employees
Short Term Debt
Cost of Goods
Long Term Debt
Net Income

Company Description

DARKMATR is a Subcontractor & Design Professional workflow software. With DARMATR, customers can use a single standardized system for accessing their Procore, Autodesk, Trimble, and Bluebeam project data. DARKMATR unifies data from all across the project management systems into a common structure and interface.

DARKMATR is a software designed for the construction industry, specifically for subcontractors and design professionals. It revolutionizes daily interaction with projects and teams, eliminating the need to filter through uncontrolled software and download outdated versions. DARKMATR allows users to work across multiple projects and platforms, keeping them all in one space. It also offers user-specific customizations to set alerts, filter through noise, and access relevant information. DARKMATR allows easy access to project information and allows users to create custom documents for sharing across teams, without downloading or relying on email. In the construction industry, time wasted on activities such as fixing mistakes, looking for project data, and managing conflict resolution accounts for over $177.5 billion in labor costs per year in the US alone. The company’s app allows the target customers to avoid these costs by subscribing to various plans in the app. There are four plans - Experience Free, Essentials ($49/month), Productivity ($99/month), and Enterprise Call (custom integrations with company-specific software). The competitors include other bigger firms with whom the company has taken a collaborative approach by integrating DARKMATR with their software. The company plans to launch a workforce pipeline and an integrations pipeline. 

DARKMATR currently integrates with over $3.5B in construction software and a secondary user base of over 25M. The company has a projected year 1 ending user base of ~1K and an annual run rate revenue of $1M. The product has good potential but the traction remains to be seen since the company has not completely commercialized the product.

Key Deal Facts

Subcontractor & Design Professional workflow software Manage all the leading GC tools (Procore, Autodesk, etc) across all your jobs, all within one site Eliminating the $31B+ financial loss, due to rework on projects from poor data and miscommunication Replicating a successful model in software (think: for the $7T construction industry CTO w/ 35 yrs developing enterprise software for the construction industry; processing $10B+ revenue CEO w/ 16 yrs GC and SC experience with aggregate projects totaling $1B+ The current product has proven to save time & money across 16 projects and 6 different GC companies Projected YR1-ending user base of ~1K and annual run rate revenue of $1M *not guaranteed

Use of Proceeds

The company plans to use the proceeds for operations, customer success, capital expenditures, development operations, and platform fees.

Management Team / Advisory Board Bios

The management team is good.

Scott Maclellan, Co-founder, Chief Executive Officer, Director
Scott has 16 years of construction field experience on projects ranging from $3M to $350M​ with senior positions at 2 of the country's largest general contractors and the last 4 years as President of a specialty general contractor. This is his first startup. He currently works full-time with the company. 

John Andolino, Co-founder, Chief Technology Officer, Chairman
John has spent 35 years developing enterprise software​ with the last 14 years as Founder/CEO/CTO of a SaaS company specializing in construction software. His products have processed over $10B in customer revenue. This is his second startup. He currently works full-time with the company. 

Valuation Notes

The company has valued itself at $3.5M post-money. The valuation seems very reasonable. In the long term, the company expects to be financially acquired by major GC players including Fieldwire, Oracle, Quickbooks, and Sage.

Amount Raised : $109,200
Reveal the Score by Voting
Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
The value of the company compared to similar companies raising money from investors.

Security Description

A CAFES (Contract and Future Equity Stake) can convert into different types of equity upon a Triggering Event, such as: common or preferred stock for a corporation, limited partnership interest for a limited partnership and membership interest for a limited liability company. At the time of the Triggering Event, the specific rights and limitations associated with the equity stake being issued to the investors will be determined and disclosed by the Entrepreneur.

Research Reports

No reports have been submitted

Become a Reporter