We are pleased to announce that LAB Ventures has invested in OnTraccr, the Vancouver-based software platform for the construction industry. OnTraccr provides a unique no-code workflow automation tool that helps construction businesses automate their ‘busy work’ so they can do more with less.
OnTraccr was founded by Syed Ahmed (CEO), Jas Nijjar (COO), and Shane McNamara (CTO). Both software engineers, Syed and Shane met while working at a Med-Tech start-up. Jas, who met Syed in University while studying engineering together, worked for a decade in the Construction sector as an electrical engineer and a project manager for larger contractors. Jas saw first hand the shortcomings of other Construction Tech platforms, whose one-size-fits-all design and data silos typically resulted in low adoption and inefficient management processes. The team built OnTraccr with the middle market customer in mind, and created an easily customizable tool that adapts to each company’s work processes instead of the other way around.
By bringing an easy-to-use software solution to a customer base that often still manages projects with paper and pencil, OnTraccr can help small and medium-sized contractors reduce overhead costs and grow their businesses. Its no code workflow customizations can be used by larger enterprise customers as well, as OnTraccr is fully integrated with other industry solutions such as ProCore. Users that don’t need or want highly customized processes can opt to begin with dozens of pre-configured workflows right out of the box, including time tracking, inventory control, change order management, and safety documentation. Field users have a simple and intuitive mobile app that facilitates data capture from the job site, including time tracking, task management, simplified safety documents, easy invoicing, real-time communication with live feeds, and access to project documents and forms.
The current construction management software market is highly fragmented, consisting of single function point solutions and one-size-fits-all tools, making it very difficult for there to be a true shared digital medium where all project stakeholders can collaborate on one platform seamlessly. By connecting every stakeholder in the construction ecosystem together in a highly customizable and user-friendly experience, OnTraccr aims to move the industry dramatically forward on its digital adoption journey.
"We’ve been very interested in software for the small and medium contractor market. The ENR400 have all adopted enterprise software, but there are tens of thousands of smaller firms, many of whom still don’t use much technology,” said Tigre Wenrich, CEO of LAB Ventures. “A middle market contractor can use OnTraccr out of the box to manage their entire business end to end, but what’s really impressive is how easy it is to create custom workflows - so much so that larger firms are using OnTraccr to augment their existing systems like ProCore.”
What stood out most to the LAB Ventures team was how quickly OnTraccr’s founders have been executing. “They launched just over a year ago and they are adding new features every day - the feedback we have heard from customers has been overwhelmingly positive about how responsive they are. It’s rare to find a team of co-founders that work so well together and all have both strong technical capabilities and amazing sales / communication skills,” added Wenrich.
LAB Ventures works strategically with early stage PropTech startups and investors from the Real Estate and Construction industries providing them access to capital, corporate development, customers, innovation and outsized returns through venture capital investments.