EstimateOne

About EstimateOne

EstimateOne operates a procurement network and tender management platform tailored for the commercial construction industry, connecting head contractors, subcontractors, and suppliers. The company was founded in Melbourne, Australia, in 2008 by Michael Ashcroft and Andrew Ritchie. The idea originated from Ashcroft's direct experience as an estimator at a commercial construction firm, where he found the manual process of contacting hundreds of subcontractors for quotes to be time-consuming and costly. Ashcroft, with a background in Property & Construction from the University of Melbourne, and Ritchie, who came from a digital tech background, developed a digital platform to streamline the tendering process.

The platform functions as a two-sided marketplace. For head contractors (builders), it provides a cloud-based tool to manage the tender send-out process, distribute project documents securely, and connect with a wide network of subcontractors to receive competitive quotes. For subcontractors and suppliers, it serves as a noticeboard for discovering relevant commercial construction projects, enabling them to find and quote on new work opportunities. The platform also assists suppliers in tracking where their products and brands are being specified on projects. Revenue is generated through a freemium model; a basic account is free, with premium features and subscriptions available for enhanced functionality. After operating as a bootstrapped company for over a decade with an annual revenue exceeding $10 million, EstimateOne secured its first capital raise of $35 million in January 2022 from Potentia Capital and Leigh Jasper. This funding was intended to support scaling, growth, and international expansion.

Initially focused on the Victorian market, the company has since expanded its operations across Australia, New Zealand, the United Kingdom, and Ireland. The platform has facilitated tendering for over 70,000 projects and managed millions of architectural documents. In 2021, to prepare for its next growth phase, the founders appointed Chris Dobbyn as Chief Executive Officer. The platform is designed to digitize and centralize the flow of information during the pre-construction phase, reducing the risks associated with manual data handling and ensuring all stakeholders work with the most current project documents. Features include project discovery, bid and document management, a subcontractor directory, and reporting tools.