Uptick, a Melbourne-based startup that has developed a technology platform for building compliance, has secured $1.6 million in new investment this month from Tempus Partners and Equity Venture Partners. According to Uptick co-founder and CEO Aidan Lister, the building compliance and maintenance industry is worth $20 billion in Australia alone. The platform provides two key products: job management for service providers and facility management for building owners and managers. Uptick’s bSecure operates as a public domain building register for sites across Australia. The platform is designed to streamline compliance processes, such as quarterly fire safety checks, by enabling contractors to test systems, invoice and send reports automatically through the platform to owners or managers. The latest investment will help the startup to add another 13 employees to its team of 23 over the next 12 months.
From onesies to building compliance
Prior to launching Uptick, its founder, Lister, embarked on his first attempt at building a global business by importing onesies to Australia, which generated sales of $3 million but proved to be a short-lived market opportunity. This experience, however, taught him a valuable lesson, which he is applying to Uptick: the importance of focusing on a long-term vision.
Since its launch in late 2014 with just two employees, Uptick has secured close to $1.8 million in funding and has plans to expand its team to 36 over the next year. Reflecting on his entrepreneurial journey, Lister emphasizes the crucial role of delegation. He acknowledges that one of the biggest challenges for founders is achieving a work-life balance, as they tend to prioritize work over everything else, including relationships, family, health, and sleep.
Lister notes that while working “20 hours a day” to satisfy a single client may be possible, this becomes unrealistic when dealing with five or more clients simultaneously. He believes that transitioning from “doing mode” to “leadership and building leadership mode” is essential for founders as their companies grow. In other words, the founder’s focus should shift from being a “doer” to becoming a leader. Lister’s experience underscores the critical role of delegation in ensuring a company’s long-term success.
