Tough Leaf
Overview
Tough Leaf is an innovative construction technology company founded in 2020, headquartered in New York City, United States. The company focuses on creating a platform that connects construction firms with certified minority and women-owned businesses. As a SaaS-based provider of a bidding information portal for the construction industry, Tough Leaf has raised $7.6 million over multiple funding rounds, including a significant Series A round. Founded by Wissam Akra, a former project manager with expertise in managing major infrastructure projects, the company has become a leader in facilitating diverse and compliant procurement in the construction sector.
Recent Developments
- Jun 2024: Tough Leaf announced a successful Series A funding round, securing $4.5 million to enhance its platform functionalities and expand its services across more states, with investments from AlleyCorp, Reformation Partners, and Stellifi.
- Sep 2024: Wissam Akra appeared on "New to The Street" to discuss the company's mission and the challenges they are tackling in the industry, emphasizing their focus on increasing the accessibility of small and diverse subcontractors.
- Nov 2024: Tough Leaf announced a strategic integration with Autodesk Construction Cloud, which aims to streamline project management for its clients, further enforcing compliance tracking and reporting.
- 2024: Throughout the year, the company actively participated in various industry events, highlighting its role in transforming procurement technologies and practices in the construction sector, including partnership headliner spots at major construction technology conferences.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2020 |
| Headquarters | New York City, United States |
| Founders | Wissam Akra |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | AlleyCorp, Reformation Partners, Stellifi |
| Industry | Construction Technology |
| Number of Employees | 11-50 |
Early History
Tough Leaf was established in 2020, driven by the vision to simplify the construction bidding process amidst increasing diversity requirements. Wissam Akra, with a background in construction engineering and management, founded the company after recognizing the limitations and inefficiencies of traditional bidding and compliance methods. His Columbia University MBA provided a solid business foundation to launch Tough Leaf. The company's immediate success in connecting diverse firms with expansive project opportunities signaled a pivotal shift in the industry's approach to inclusive procurement.
Company Profile and Achievements
Tough Leaf's business model centers around a robust software platform that aggregates and certifies data from over 250,000 vendors, enhancing the accessibility and reliability of bidding processes. The platform uses AI-driven insights to match construction project needs with certified small and diverse firms, effectively increasing the diversity of awarded contracts.
Key Achievements:
- Developed a multi-faceted platform that ensures compliance with diversity standards across various U.S. jurisdictions.
- Established strategic partnerships, including with Autodesk Construction Cloud, to enhance its service offerings and technological integration.
- Recognized as an industry leader in promoting diversity through technology, contributing significantly to the small business economy within the construction sector.
- Hosted and participated in numerous industry events to foster dialogue around the future of construction technology and compliance.
Current Operations and Market Position
Tough Leaf currently operates as a pivotal player in the construction technology space, with its proprietary platform enabling seamless sourcing and compliance for diverse subcontractor engagements across the United States. The company is noted for its robust network of over 250,000 certified vendors, setting it apart from competitors by offering comprehensive compliance tracking and a significant increase in bid competitiveness.
Conclusion
Tough Leaf's innovative approach to construction procurement has positioned it as a key driver of industry change, focusing on inclusivity and compliance. As it continues to expand its platform capabilities and integrations, the company is poised for significant growth. With a solid funding foundation and strategic industry partnerships, Tough Leaf is set to redefine standard practices in the construction sector, championing the economic integration of diverse firms while setting new benchmarks for competitive and fair bidding processes.