Thursday Jun 06, 2024

Chloe Smith, CEO & Co-Founder of Mercator AI: $4.5 Million Raised to Build the Future of Construction Tech

Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech's most innovative B2B founders. In today's episode, we're speaking with Chloe Smith, CEO & Co-Founder of Mercator AI, an AI-powered business development platform for commercial general contractors that has raised $4.5 Million in funding.

Here are the most interesting points from our conversation:

  • Background and Inspiration: Chloe comes from a background in data strategy and marketing, not directly from construction, but her family's involvement in the industry piqued her interest and led to the inception of Mercator AI.
  • Cross-Industry Application: Although her background is not in construction, Chloe's experience in data strategy and marketing allowed her to identify and address a gap in the construction industry, demonstrating the value of cross-industry application of skills.
  • Foundational Shifts: Mercator AI helps construction businesses identify early project opportunities by tracking land development, which allows their clients to engage earlier and more effectively in potential projects.
  • Navigating Industry Challenges: Chloe discusses the challenges of transitioning from other sectors to construction tech, highlighting the importance of understanding and adapting to industry-specific dynamics.
  • Focus on Business Development: The platform is designed to 'force multiply' the efforts of business developers in the construction industry by streamlining the research and pursuit process, fundamentally changing how contractors approach new opportunities.
  • Early Struggles and Adjustments: Reflecting on the initial challenges, Chloe emphasizes the importance of resilience and adaptability, sharing an anecdote about early investor interactions that shaped the company's trajectory.

 

Sponsors:

Front Lines — We help B2B tech companies launch, manage, and grow podcasts that drive demand, awareness, and thought leadership.
www.FrontLines.io


The Global Talent Co. — We help tech startups find, vet, hire, pay, and retain amazing marketing talent that costs 50-70% less than the US & Europe. www.GlobalTalent.co

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