Gearflow wins construction tech award
By Lindsey Anderson22 July 2021
Gearflow.com, an online parts marketplace for the construction industry, won the Mid-Continent Startup Challenge at the BuiltWorlds 2021 Construction Tech Conference held July 8 in Illinois.
The competition awards the top early-stage construction tech startup based in a U.S. metropolitan area other than the East and West coasts. Gearflow joined two other finalists at the event to pitch its marketplace platform, which is designed to reduce costly construction equipment downtime by allowing fleet owners to quickly buy the parts they need.
“It was an honor to participate in the BuiltWorlds startup challenge and present how Gearflow plans to help solve construction’s productivity pains by easing parts procurement,” says Luke Powers, Gearflow founder and CEO. “There is a distinct opportunity for digital technology to expedite the work in the field — particularly when it comes to equipment and tools — in order to positively influence contractor profit margins, and the solutions that Gearflow is building to elevate the supply chain and its service relationships will do just that.”
Judges for the startup challenge included Weston Tanner, director of construction technology and innovation at Graycor; Chris Wright, director of operations support at Nabholz; and Tomislav Zigo, CTO at Clayco. Finalist pitches were scored on value proposition, market opportunity and strategy, leadership, technology, and competition.
“Gearflow addresses an underserved market with untapped potential,” said Wright. “All that is left is to execute their strategy.”
The startup challenge success comes on the heels of Gearflow raising a $3M-seed round in June, led by Watchfire Ventures with a strategic investment by CNH Industrial.