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Built with Billd: The Evolution of Construction Technology with STACK’s Phil Ogilby

Published: December 10, 2020
Last updated: November 04, 2022
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STACK CEO Phil Ogilby joined Chris Doyle, CEO of Billd, on the Built with Billd podcast to talk about the trajectory of construction technology, as well as its current shortcomings.

Phil begins by recounting how he came into the construction industry as a sheet metal worker in the late 70’s, but the poor economy in the 80’s resulted in him being laid off. Determined to make his way, he began his own roofing company. To assist with takeoffs and estimates, Phil and his 14 year old son designed Buildware Pro, which led to his transition from roofing to technology.

By the early 90’s, the dot com boom was in full force. Phil began building a solution that would allow GCs to distribute invites to subcontractors to bid on the internet for jobs. After gaining an investor, iSqft was born.

While Phil was satisfied with the company and the work they produced, he was yearning to run his own show again, so he sold his shares and started STACK in 2013. STACK is the first cloud-based solution for takeoffs and estimating combined. It’s a powerful set of tools that impacts the contractor’s top line more than anything else.

COVIDI-19 has forced a lot of companies that were once hesitant to adopt new technology, to explore options that allow them to work from home. Phil predicts that this shift will make cloud-based software a requirement for construction companies moving forward.

“When you’re doing something brand new and you’re one of the pioneers, you take a lot of arrows. That’s part of the journey” – Phil Ogilby

About Billd: Billd stands alone as a partner that truly champions the subcontractor. Founders Christopher Doyle and Jesse Weissburg, industry veterans in both construction and finance, witnessed the detrimental impact to subcontractors of the longstanding broken payment cycle in construction. Their time in the trades inspired them to launch Billd in 2018, bringing the financial power of Wall Street to the construction job site. Billd's financial and payment products empower subcontractors to bypass project hurdles by providing access to upfront funds to cover their most pressing costs, including materials and labor. Unlike traditional financing outlets, Billd provides flexible lines of credit to accommodate the unpredictability of cash flow in construction, and extends their customers up to 120-day terms to align with industry payment standards. Billd knows traditional credit metrics are poor predictors for risk and has built a variety of industry-specific, proprietary analytic and financing tools to allow subcontractors to stabilize cash flow and more effectively grow their businesses.

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