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News of the Day |
The construction industry faces a slow payments problem, with companies waiting two to three months on average to get paid due to delays, multiple payment layers, and cost overruns. In 2023, the cost of sluggish payments reached $273 billion, 14% of total project expenditures. To address this, Matthew Calvano, Henry Bradlow, and Francisco Enriquez founded Adaptive in 2021. Adaptive simplifies payments and accounting for general contractors with workflow automations for financial management, including budgeting, expense tracking, accounts payable, and electronic payments. This week, Adaptive closed a $19 million Series A round led by Emergence Capital, bringing its total funding to $26.4 million. The platform serves over 280 construction companies and plans to focus on acquiring subcontractor clients and exploring embedded finance opportunities. The funding will also help expand Adaptiveβs workforce from 29 to 45 by year-end. |
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If you have tweets you want to submit to be featured here (from you or someone you like), then reply to this email with a link to them! |
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Brett Adcock @adcock_brett
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Uhhhh - I've raised most of my $1.7+ billion from cold emails for my companies
I've tracked performance of cold emails vs referrals, and cold emails consistently outperform by a long-shot for a few reasons:
1/ Outbound cold email scales several orders of magnitude better thanβ¦ x.com/i/web/status/1β¦
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 Joe Lonsdale @JTLonsdale
Iβm biased against cold outreach in general, especially to me - network to somebody who can make an introduction, there are thousands of legit people in our network.
But if you are going to send an email, donβt suggest youβre looking for affirmative action: show your strengths!
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2:14 AM β’ Jul 15, 2024 |
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811 Likes 34 Retweets |
40 Replies |
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Chart of the Day |
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Onwards and Upwards, |
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Liam Gill |
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