# Briq Financial Model

SaaS platform that automates money workflow management (budgeting, forecasting, cash flow, WIP) for construction companies.

- Canonical: https://finamodel.com/startups/briq
- Excel download: https://finamodel.com/startup-models/briq.xlsx
- Category: PropTech
- Model type: SaaS ARR / Valuation
- Funding round: Series B
- Funding: $30M
- Founded: 2021
- Geography: US (customer names suggest US-based; no explicit geography stated).
- Customer: B2B

## About the company

Briq automates construction money workflows including budgets, forecasts, cash flow, and work in progress. Its software gives construction companies a connected financial-operating layer for project economics rather than relying on disconnected spreadsheets and manual reporting.

The company uses a multi-component SaaS pricing structure: platform fees, modules, and per-user charges. Construction customers have enterprise-style sales cycles, while modules create a credible land-and-expand path after an initial implementation.

The model builds ARR from contractor additions, projects, platform fees, module adoption, users, expansion, and churn. Implementation, customer success, sales capacity, gross margin, and operating costs show how net retention and the construction sales cycle affect cash runway.

## What's included

- 5-year monthly revenue build with stage-appropriate growth assumptions
- Full P&L, headcount plan, and operating-expense schedule
- Cash-flow statement, runway, and burn-rate tracking
- Valuation via exit multiple with a DCF cross-check
- Returns analysis with MOIC and IRR
- Unit economics including CAC, LTV, payback, and cohort retention

## Product & value proposition

- Financial operating system for construction companies - integrates CRM, accounting, and project management data into one platform.
- Six modules: Revenue Forecasting, Project Forecasting, Cash Flow Modelling & Forecasting, Corporate Budgeting & Forecasting, Revenue Recognition/WIP, Resource Planning (Equipment, Labor, Materials).
- Replaces spreadsheets and ill-fitting ERPs; positions as the "system of record" for money workflow automation.
- Key customer outcomes vs. pre-briq baseline:
  - Average work/resource costs: 4 weeks/month → 2 weeks/month
  - Time on one project workflow: 2–3 weeks/month → 1 hour/month
  - Margin of error: 40% (industry avg) → 5%

## Market

- TAM: $10T+ construction industry market.
- Stated ambition: own 80% of money workflow automation within the construction industry within 10 years.

## Revenue model

- Platform fee (base subscription) + per-module add-on fees + per-user seat pricing.
- Six purchasable modules (listed in §2 above).
- Direct sales implied (enterprise/mid-market construction firms); no channel partner detail in deck.
- No specific price points ($/seat, $/module, platform fee $) disclosed.

## Traction & metrics

- Customer testimonials from: Cafco Construction Management (CFO), WestCor Companies (CFO), Choate Construction (Finance). - qualitative social proof only.
- Bassem Hamdy (CEO) previously at CMIC and Procore - implied domain credibility.

## Competition / moat

- Claims "new category with no direct competitors."
- Adjacent players:
  - Autodesk: owns Design Workflow.
  - Procore: owns Document Workflow.
  - briq: claims to own Money Workflow - differentiated niche.
- Current alternatives: home-grown Excel models and antiquated in-house/ERP systems not designed for construction.
- Moat drivers implied: deep construction-specific data integrations, workflow automation reducing switching costs, and proprietary predictive modelling.

## Team & funding ask / use of funds

- CEO & Co-Founder: Bassem Hamdy (br.iq).
- Prior roles: CMIC, Procore (construction tech background).
- No other team members named.

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## Recommended financial model

- **Archetype + why:** SaaS ARR model with module-based expansion revenue. Briq's pricing structure (platform fee + per-module + per-seat) is a classic multi-component SaaS model. The construction vertical and long sales cycles suggest enterprise-style cohort tracking with strong focus on net revenue retention (NRR) and expansion ARR from module upsell.

- **Forecast horizon & granularity:** 5 years (2021–2025), monthly for Year 1–2, quarterly for Year 3–5. Monthly granularity needed to track cohort-level ACV expansion.

- **Key drivers & assumptions:**

| Driver | Value |
| -- | -- |
| Starting customer count | Unknown |
| New logo adds per year | 15–30 new logos/yr in early years, scaling with sales headcount |
| Average Contract Value (ACV) - platform fee only | $30K–$80K/yr; no pricing disclosed |
| Module attach rate | 1.5 modules avg at land, growing to 3+ over 3 years |
| Per-module incremental ACV | $10K–$20K per module per year |
| Per-seat pricing | secondary revenue component; model as a fixed uplift % on ACV |
| Gross margin | 70–75% |
| Net Revenue Retention (NRR) | 110–120% |
| Annual churn (logo) | 5–10% |
| Sales cycle | 3–6 months |
| S&M as % of revenue | 50–60% in early years, declining to 30% at scale |
| R&D as % of revenue | 20–25% |
| G&A as % of revenue | 10–15% |
| Construction market TAM | $10T+ total industry |

- **Scenarios (Base / Bull / Bear - which variables flex):**
  - **Bear:** Slow logo adds (10/yr), low ACV ($30K), low module attach (1.5x), high churn (10%), NRR 105%.
  - **Base:** Moderate logo adds (20/yr), mid ACV ($50K), module attach growing to 2.5x, churn 7%, NRR 115%.
  - **Bull:** Fast logo adds (35/yr), high ACV ($70K), module attach 3x+, churn 5%, NRR 125%, driven by large GC / national accounts.

- **Required sheets / outputs:**
  1. Assumptions dashboard (all toggleable drivers)
  2. ARR bridge (new ARR, expansion ARR, churn ARR, net new ARR)
  3. Cohort P&L (ACV by vintage, module attach over time)
  4. Revenue schedule (MRR/ARR by module)
  5. Income Statement (IS) - GAAP revenue, gross profit, OpEx, EBITDA, net income
  6. Cash Flow statement (operating burn / path to profitability)
  7. Headcount model (AE quota capacity drives logo adds; CS headcount drives retention)
  8. Scenario summary (Bear / Base / Bull vs. key KPIs)
  9. Valuation sensitivity (ARR multiple × NTM ARR)

## Frequently asked questions

### Is the Briq financial model free?

Yes. The Briq model is a free Excel download with live formulas.

### Can I change the assumptions?

Yes. The workbook is editable and its live formulas recalculate when assumptions change.