Make construction progress measurable
Shareholding: 7.8% with options to increase to 13%
First Investment: February 2017
Conqa provides software that allows multiple parties in the construction industry to do all of their quality assurance planning and execution online and on mobile. Conqa keeps all quality assurance documentation in one secure location, while letting their customers have all of their Hold Points, checklists, defect flagging, photos and notes at their fingertips.
Conqa’s goal is to ‘make progress measurable’ on construction projects by making the quality assurance process more efficient, transparent and robust. Quality assurance has traditionally been the last step, performed at handover at the completion of a project, and is a time consuming and onerous task where sites are on a tight timelines and margins. Conqa allows sub contractors to submit QA reports as soon as the work is done, site managers to rapidly identify and record defects then track remediation for work being done, and for site directors, managers and owners to track and see real evidence of overall progress. Conqa is also exploring how the platform can increase speed and accuracy by working with Councils on compliance.
The last investment event was in October 2017, when Punakaiki Fund partially exercised the option it holds over new Conqa shares. LWCM provides active governance assistance and has provided advice on product, customers and pricing, capital raising and sales growth.