Our mission at AEC Labs is to develop products that help civil engineering, construction management, and technical services firms protect project profit margin, prevent costly claims, and avoid problem projects.

The American Society of Civil Engineers’ (ASCE) last report card graded America’s current infrastructure a pitiful D+ and called for $1.5T in investment just to maintain it through 2030. Because of this, the 21st century will demand significant investments from both public and private stakeholders in new roads, bridges, ports, and tunnels to keep up with a United States that will swell in population to nearly 400 million by 2050.

But, incredibly, less than 1 percent of the construction industry’s annual revenues are invested in technology. Ours is a huge, high-profile market dominated by old-fashioned practices and thinking, which has yet to see the types of large-scale venture investments we’ve seen in real estate, insurance, and other aligned sectors (though this is changing rapidly).

As anyone who has worked in this industry for an extended period of time (like us) will tell you, the professional services firms charged with imagining and implementing the infrastructure that this country needs face major challenges competing for work, executing projects, and staying profitable.

For these reasons, AEC Labs believes that as our current, massive infrastructure funding gap inevitably closes, it will create increasing demand for data-driven, cost-effective, and comprehensive risk management and project delivery solutions from AEC industry executives, investors, and insurers. In fact, by 2030, the $8 trillion annual construction market will double to over $15 trillion.

These are the core problems that AEC Labs is trying to solve by developing scalable, web-based tools that our industry customers can use to increase efficiency and profits while reducing risk.