Go Build Analysis
What is Go Build?
GoBuild enables small-scale construction companies to receive payments without debt. The platform allows easy funding of change orders and payroll. It is designed for small construction firms that want to avoid debt and improve cash flow.
Location
Oakland, United States
Employees
1-10
Founded
2019
Revenue
$658,848
Product Features & Capabilities
- trusted payments solution for small-scale construction, standardized low-cost initial deposit options, project-based working capital access, streamlined subcontractor payout process, removal of client collections risk, cash flow management, change order payments, payroll management without incurring debt
Pricing
- Free Plan: For tracking equipment, unlimited users, and projects.
- Pro Plan: $19.90/user/month (billed annually) or $25.90/user/month (billed monthly); includes full features, up to 20 users, and unlimited projects.
- Pro Plus: Details not specified in the search results.
Market Focus
Go Build primarily focuses on the education and promotion of careers in the skilled trades, particularly within the construction industry.
Investors
- Y Combinator
- Precursor Ventures
- Global Founders Capital
- Hashtag Blessed
- Northwestern Mutual Future Ventures
- Red Dog Capital
- Soma Capital
Competitors Overview
Go Build operates in the financial solutions market for small-scale construction companies, facing competition from several notable companies:
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Builder Finance Inc.: Specializes in providing various construction loan options, including rental and build-rent loans. They focus on financing for builders and investors, which may offer more tailored solutions for larger projects compared to Go Build.
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GreenSky: Offers a direct platform for home improvement financing with APR rates ranging from 3.99% to 26.99%. They charge a dealer fee of 2-10% per transaction and require contractors to have been in business for at least 2 years with a revenue of $1M. Their established partnerships with federal lenders provide a competitive edge.
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Acorn Finance: A free brokerage that partners with multiple lenders, allowing contractors to offer loans up to $100,000 with rates starting at 4.99%. Their no-fee structure for contractors makes them an attractive option.
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Hearth: A brokerage platform that allows contractors to offer loans from $1,000 to $100,000, with APR rates as low as 4.99%. They charge an annual fee but provide a mobile application for ease of use.
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QuickBooks for Construction: Known for its budget-friendly financial management solutions, it is particularly suited for small to mid-sized contractors. It offers features that help manage job costing and cash flow effectively.
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Truss: Focuses on streamlining payments and improving cash flow, making it suitable for contractors of all sizes. It provides robust financial management features that can compete directly with Go Build's offerings.
Notable differences among these competitors include their fee structures, types of loans offered, and additional services such as mobile applications and marketing support. For instance, Acorn Finance stands out for being completely free for contractors, while others like Hearth and Enhancify charge annual fees but offer additional marketing support.
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