Contractor Plus Secures Electric Ventures to Lead RegCF Seed Round

Orlando, Florida–(Newsfile Corp. – February 15, 2023) – Contractor Plus, the all-in-one mobile solution for contractors powering efficient field service management, today announces that CEO Justin Smith has secured Ethan Logan of Electric Ventures as a lead investor for the startup’s seed round. The Reg CF funding round will launch on Wefunder to the general public on March 1st, 2023.

Contractor Plus

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8199/154928_3dbff4a6948db9f5_001full.jpg

Since bootstrapping to beta in 2020, Contractor Plus has organically acquired over 20,000 users, 540 paying customers and single digit churn. The company is making big waves amongst contractors due to their strategic unit economics and market positioning. Existing field service management solutions are solely focused on solving problems within the organizational unit for SMB contractors and artisans. Likewise, existing construction software solutions are solely focused on the same for builders, GCs and master developers. Contractor+ is working to establish true product market fit for both ends of the market.

These tactics come ahead of an anticipated increase in customer demand. The Field Service Management Software market currently has a 19% compounded annual growth rate. The contractor software market is growing in the vicinity of 8% annually.

“Contractor Plus was born out of the belief that technology has widely failed to improve operational efficiency for field service workers, contractors, subcontractors, property managers, and the many sectors that interact with these critical roles,” said Justin Smith, founder, and CEO of Contractor Plus. “Now that our app is in the hands of customers, it’s clear that we’re not only fulfilling a need – we’re propelling an entire industry forward. We’re working on some really exciting stuff. The AI we’re working on is streamlining processes that currently take contractors 2 hours to complete and doing it for them in 3 seconds.”

Prior to leading this seed round for Contractor+ with a strong investment, Electric Ventures Founder Ethan Logan has invested in over fifty SaaS and mobile technology companies. He is also the President of White Label MFG, one of the largest print-on-demand companies in the world.

“I’m not just investing in Contractor Plus – I’m investing in Justin,” said Logan. “He’s demonstrated an extreme willingness to be coachable and do whatever it takes to position his company for extreme growth, and of the many founders that come my way on a daily basis, Justin has undoubtedly stood out with his knowledge, passion, and determination to succeed.”

With the company’s traction from Beta, Smith intends to consolidate two existing markets: field service management software and contractor software.

Advertisement

Contractor Plus features adaptive software that fits the flow of day-to-day business for general contractors, handyman companies, artisans, builders, property managers, master developers, and more. The app is helping contractors unite their teams, systemize, and scale. To learn more about Contractor+, check out ContractorPlus.app or download the app on the Apple App Store and Google Play.

Media Details:

Contractor Plus, Inc.
Orlando, FL
USA
Justin Smith
Press@contractorplus.app

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154928