Trabr, the premier digital platform for the building and renovation industry with a mobile-first approach, has garnered a total of $405 million in funding after its first capital raising round of $2 million and launch in September of last year. With this significant investment, Trabr is poised to expand its services globally.
Trabr Limited, a distinctive prop-tech platform that focuses on building and renovation, has garnered $405 million worth of customer projects within its first few weeks of operation. After raising its initial capital of $2 million in 2019 and launching in September, Trabr is currently expanding both domestically and internationally.
Trabr is an exclusively Australian-made and owned mobile-first digital resource, unlike any other in the building industry worldwide. Traditional project management platforms for this sector have been desktop-based and focused on enterprise solutions, limiting their effectiveness for remote use. However, Trabr is a subscription-based platform that integrates cloud-based workflow tools, a network, and a marketplace. It allows users to manage their building and renovating projects, stakeholder communications, visibility, budgeting, and payments, all from a single place. Trabr’s user-friendly solutions are tailored for SME builders, owner builders, home renovators, and tradespeople. They offer a range of benefits, including saving time and money, and reducing costly workflow, timeline, and budgeting issues.
Trabr’s exceptional model is evidenced by its immediate success. The startup, which began its development journey after raising $2 million in its initial capital raising in 2019, has enrolled 616 users and 426 projects since its quiet launch in September. Based on its current growth rate, Trabr is on track to acquire over 1,000 users and projects worth more than $500 million before the holiday season arrives.
Trabr, a company specializing in the building and renovation industry, is anticipated to experience rapid growth in 2021. Despite being one of the industries with the least technological advancement and productivity growth, building and renovating are estimated to be worth $100 billion annually in Australia, with around 360,000 SME building businesses. To support its growth objectives for the next 15 to 18 months, Trabr is planning to conclude its second seed funding round by the end of the year to secure its runway.
Trabr has assembled an impressive advisory board and executive team, consisting of highly accomplished entrepreneurs, investors, and C-suite executives with extensive experience in relevant industries. The company was founded by Managing Director Tony Huxley, a seasoned entrepreneur with over two decades of experience in construction, renovation, and development, and Chief Technology Officer Adam Woods, who previously served as Head of Engineering at hipages.
In addition, Ian Morrice, the former CEO of Metcash Group and a veteran leader with more than 20 years of experience in managing large-scale hardware and home improvement retailers, has joined the advisory board as its Chair. He is also a shareholder and Director of the company, further underscoring his commitment to Trabr’s success.
According to Tony Huxley, current prop-tech solutions in the building sector tend to cater to larger building firms and lack an end-to-end remote, mobile-first solution with procurement or supply chain capabilities. However, of the 394,000 construction businesses in Australia, only 10% are at the enterprise level. Huxley’s company, Trabr, aims to respond to the needs of the remaining 360,000 SME building businesses, trades, and more than 2 million home renovators and owner builders who face many friction and pain points in their day-to-day lives.
Huxley believes that these sectors’ productivity and ability to grow their businesses are limited by their lack of time and resources. They still rely on printed plans, a notebook, a battered mobile, and an Excel spreadsheet, at best. With Trabr, Huxley intends to provide them with the necessary resources to transform their productivity.
Ian Morrice was drawn to join Trabr after discovering compelling research that revealed a significant market opportunity and an unmet need in the industry. Trabr, a prop-tech and build-tech innovator, aims to address various pain points identified by small builders, trades, sub-contractors, owner builders, renovators, and developers. The construction industry contributes a substantial 13% to global GDP but has only achieved an average annual productivity growth of 1% per annum over the last 20 years. Technology adoption in the industry has been equally low, highlighting the ripe market opportunity for disruption in Australia and globally.
Prop-tech solutions, until now, have been complicated, time-consuming, costly, and not targeted at small builders. However, Trabr was created out of a clear market need and offers low-cost, user-friendly, and highly functional solutions. Trabr can be easily transported to international markets, including the US and UK. No competition currently offers Trabr’s functionality at its price point.
Trabr is currently offered on both the App Store and Google Play, with three different subscription tiers available for users to choose from:
- For only $63.95 per month, the builder’s subscription can be initiated.
- A subscription service for home renovators and owner builders was launched on November 6th, and it’s currently available for free. An upgraded premium version of the service will be released in early 2021 for $29.70 per month. This premium version will include a design studio and powerful estimating tools
- Starting early 2021, tradespeople and subcontractors will have access to a subscription service priced from $19.95 per month.
To view a demonstration video of the Trabr app for builders’ subscriptions, simply click on the provided link: https://www.youtube.com/watch?v=T3K92dNUMiA.