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BuildDirect

builddirect.com

Founded Year

1999

Stage

Series D | Alive

Total Raised

$151.88M

Last Raised

$28M | 5 yrs ago

Revenue

$0000 

Mosaic Score
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

+10 points in the past 30 days

About BuildDirect

BuildDirect (TSXV: BILD) is an online marketplace for home improvement products. It is based in Vancouver, British Columbia.

Headquarters Location

2200 - 401 West Georgia

Vancouver, British Columbia, V6B 5A1,

Canada

877-631-2845

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Expert Collections containing BuildDirect

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

BuildDirect is included in 1 Expert Collection, including E-Commerce.

E

E-Commerce

9,909 items

BuildDirect Patents

BuildDirect has filed 1 patent.

The 3 most popular patent topics include:

  • Marketing
  • Modern obsolete currencies
  • Product management
patents chart

Application Date

Grant Date

Title

Related Topics

Status

2/8/2017

Windows Server System, Promotion and marketing communications, Modern obsolete currencies, Marketing, Product management

Application

Application Date

2/8/2017

Grant Date

Title

Related Topics

Windows Server System, Promotion and marketing communications, Modern obsolete currencies, Marketing, Product management

Status

Application

Latest BuildDirect News

BuildDirect (TSXV:BILD) CEO Shawn Wilson talks to Cantech Letter

Nov 21, 2022

BuildDirect (TSXV:BILD) CEO Shawn Wilson talks to Cantech Letter *All amounts are in $USD unless otherwise noted Shawn tell us a bit about your business. How do you make money? The $70B flooring industry 1 is fragmented and is difficult to navigate from a customer’s perspective. Manufacturers produce a variety of products with often conflicting marketing stories and are disconnected from the flooring contractors that provide installation services. There are also often multiple layers of distribution, buying groups, and retailers in between the factory that produces the products and the contractors that installs the products. BuildDirect is attempting to tackle these industry challenges with its omnichannel business focused on the contractors (both flooring and general) as our primary customer. Contractors drive a significant amount flooring projects and can assist in matching the right product for an installation. Today BuildDirect has a robust and efficient factory-to-project supply chain, a well-established E-Commerce business that sells to both contractors and homeowners working with contractors (Online), as well as a footprint of Brick & Mortar operations with flooring contractor-focused locations and locations that focus on serving general-contractors that provides both product and installation services for larger-scale projects (collectively Independent Retailers). Combined, we have built a digital-physical footprint that is positioned to grow profitably with 2021 annualized revenue of $108M ($52M of annualized Online revenue and $56M of annualized Independent Retailer revenue). Is your space growing? How are you positioned to benefit? Flooring is a resilient, growing category. The industry has an estimated CAGR of +4% 1 and is segmented into residential remodeling, commercial, and new construction. BuildDirect is positioned to services these industry segments and can adjust focus and resources to pursue growing segments. Overall, the needs for housing will continue to grow and with it, new or replacement flooring. What’s your financial situation like? As we’ve continued to hone our omni- business focused on the professional contractor, we’ve transitioned our company from a negative EBITDA to +$0.6M Q2 2022. As part of our continued focus on the professional contractor segment, we have made cost reductions of ~$2M annualized as of June 30th, 2022), which would equate to a +$4M Adjusted EBITDA on a forward looking 12-month basis. With the continued support from institutional investors, we recently closed a CAD $3.15M private placement to assist with the ongoing transition in the business. Moving into 2023, we are expecting positive operating cashflows on a consolidated basis and continued responsible growth primarily through organic methods. What is your key competitive advantage? BuildDirect’s omnichannel business connects North American home improvement B2B and B2C organizations, and homeowners through its robust global supply chain. Our heavy-weight delivery platform combined with our E-Commerce business enables us to focus marketing efforts in growing areas leveraging our Brick & Mortar operations. Through our acquisitions of Charter Distributing Company (dba FloorSource) and Superb Floor Coverings LLC, we have acquired Brick & Mortar locations established in their respective markets and we will continue to leverage the synergies between our online and physical operations to provide cost-reductions and new selling opportunities. BuildDirect has an established brand (incorporated in 1999) and repeatable business with over 85% of our revenue coming from professional contractors as of Q2 2022. Overall, BuildDirect’s cost, delivery, and omni-channel offerings will assist the company as we continue to pursue further growth. What do you hope to accomplish in the next year? In Q4 2022 and heading into 2023, we will continue to focus on the professional contractor segment, implement synergies gained through our 2020/2021 acquisitions, explore additional online product categories that best serve the professional contractor, and continue to hone our fixed costs and marketing strategies to improve profitability and growth prospects.

BuildDirect Web Traffic

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Page Views per User (PVPU)
Page Views per Million (PVPM)
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BuildDirect Frequently Asked Questions (FAQ)

  • When was BuildDirect founded?

    BuildDirect was founded in 1999.

  • Where is BuildDirect's headquarters?

    BuildDirect's headquarters is located at 2200 - 401 West Georgia, Vancouver.

  • What is BuildDirect's latest funding round?

    BuildDirect's latest funding round is Series D.

  • How much did BuildDirect raise?

    BuildDirect raised a total of $151.88M.

  • Who are the investors of BuildDirect?

    Investors of BuildDirect include Mohr Davidow Ventures, Pelecanus Investments, Fidelity Investments, Beedie Capital Partners, Lyra Growth Partners and 7 more.

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