Construction Estimating SaaS – $630K SDE – Asking $1.7M – 2.7x

An established software company offering digital takeoff and estimating tools for contractors. In business for 30+ years, it serves a stable base of repeat customers across North America. The software enables contractors to mark up digital plans, quantify materials, and generate job estimates directly into spreadsheets.

✅ What I Like

• Low effective price: Asking price includes $410K in cash and short-term investments, effectively reducing buyer net cost

• Long history in a high-friction vertical: Staying profitable in construction software for 30+ years implies strong domain fit and embedded workflows

• Lean team (3 employees) and high SDE margin suggest solid operational efficiency

• Simple value prop: The core product solves a persistent pain point without bloat — open plans, measure, export to spreadsheet — no fluff

⚠️ Risks / Challenges / Questions

• No clarity on churn or retention trends in the last 3–5 years — is the customer base shrinking?

• No mention of AI or any recent modernization efforts in a field seeing fast-moving innovation

• Highly dependent on long-standing customer habits — is the product still competitive for new users?

• "Source code valued at $650K" is likely sunk dev cost — not actual transferrable value

📈 Ways to Grow

• Modernize UI/UX and layer on AI-assisted takeoff capabilities

• Shift to cloud-based SaaS with usage-based pricing

• Launch contractor education programs or certification pathways

• Add integrations with project management tools (e.g., Procore)

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