Ecomedes offers an enterprise-grade cloud software platform dedicated to simplifying sustainable material procurement for built world professionals
Sustainably sourced materials are now imperative for the built world
In a world where sustainability is no longer optional, the need for actionable and accessible tools that facilitate sustainable decision-making has never been more acute. The built world, in particular, bears a significant responsibility and opportunity in this regard, given its substantial impact on our planet (~40% of global emissions and ~20% of total water usage).
Ecomedes has emerged as a trailblazer for this market transition with an enterprise-grade cloud software platform dedicated to simplifying sustainable decision-making for manufacturers, design professionals, property managers, and construction companies. By providing the most comprehensive database of certifications for over 1 million building products, Ecomedes enables users to make informed choices on sustainable product selection and procurement.
Whether users are searching based on specific sustainability criteria such as embodied carbon or recycled content, or simply seeking design inspiration, Ecomedes has streamlined and automated the often complex journey of sustainable materials procurement. It's this pioneering spirit, embodied by Founder Paul Shahriari and CEO Kathleen Egan that sparked our interest at Hamilton Ventures and prompted our investment in Ecomedes.
Ecomedes fills a crucial gap in the materials marketplace
Given the myriad of corporate ESG and “net-zero” pledges, the urgency for sustainable decision-making in both real estate and the general business climate is clear. However, the gap between awareness and action remains significant. Forbes reports that although 90% of business leaders understand the importance of sustainability, only 60% of companies have a strategy in place. Exacerbating this apparent lack of corporate planning is the dearth of accessible and reliable information on sustainable products, hindering the execution of robust sustainability strategies. Typically, design partners for buildings (i.e. architects and environmental consultants) spend hours per week going back-and-forth with a materials salesperson flipping pdfs and inputting certification data into spreadsheets.
Ecomedes is the solution to this pervasive challenge. By offering a comprehensive database of certified sustainable products, the company equips manufacturers, architects, construction companies, and property & facility managers with the tools and information they need to navigate the complex landscape of sustainable materials procurement. In doing so, Ecomedes not only fills a significant market need, but also empowers businesses to bridge the wide gap between a company’s sustainability intentions and its actions.
Why Ecomedes is positioned to solve this problem
As mentioned, the procurement of building materials, equipment, and furnishings is often a complex and opaque process, with companies struggling to access reliable information on the sustainability of their purchases. Ecomedes has solved this problem by creating an easy-to-use platform that centralizes all the necessary material information and simplifies sustainable decision-making.
What sets Ecomedes apart is not just the breadth and depth of their database – boasting over a million products – but also the manner in which this information is made accessible. Users can easily set company-wide procurement rules, and search based on specific sustainability criteria, which removes the need for extensive research and costly consultancy services. Incorporating the Ecomedes platform typically saves materials sales teams, design professionals, and procurement officers 5-10 hrs per week.
Ecomedes has an exceptional executive team
Ecomedes is led by an exceptional team that captured our attention. At the forefront is Kathleen Egan, a seasoned CEO with impressive experience in the startup realm. Kathleen has a history of successful exits including Flyswat to an acquisition by NCBi, Profitlogic acquisition by ORCL, and Revionics acquisition to Aptos. With a reputation as a results-oriented founder, Egan brings phenomenal leadership to Ecomedes.
Adding to the team's prowess is Founder, and CIO Paul Shahriari, a passionate advocate for sustainable building products. Paul’s visionary contributions to the industry shine through his previous venture, GreenMind, and its successful acquisition by Concora with EcoScorecard. With two decades of experience in sustainability startups, Paul’s profound understanding of the market increases Ecomedes' potential to make a meaningful impact.
Completing this formidable lineup is CTO Hung Vo, a driving force behind successful ventures in sales analytics. Vo’s entrepreneurial journey includes founding and successfully exiting OpsPanda, acquired by Xactly. Additionally, his accomplishments extend to founding and exiting Hyperion, acquired by ORCL, and Computer Systems, acquired by Platinum. Vo's expertise building database and sales analytics platforms fortifies Ecomedes' strategic edge.
Ecomedes' robust technology and product offerings
Hamilton invested in Ecomedes due to the company’s industry leading technology. Ecomedes has developed a robust sustainable materials data lake by gathering information from numerous sources. With a database of over one million products, the platform utilizes advanced OCR/NLP technology, supplemented in rare cases by human input for quality assurance. The platform offers an enterprise-grade, secure cloud-based infrastructure and boasts a recently improved user interface. Ecomedes aggregates and verifies third-party certifications for products and provides useful tools such as search, sorting, credit calculators, and energy ROI/comparisons. The team has also built out strong integration capabilities and continues to refine their API.
In short, the Ecomedes platform is the fastest and most complete way to access sustainability certification data for building materials.
Strong tailwinds for Ecomedes in the sustainability industry
Capitalizing on the momentum of corporate sustainability pledges: With 67% of companies adopting more sustainable materials and 929 public companies making net-zero energy pledges, Ecomedes is stepping up to fulfill an immediate market need and seize the larger drive towards corporate sustainability and embedded carbon goals.
Aligning with Federal sustainability initiatives: President Biden's executive orders have set the stage for a nationwide transition towards a greener future, with commitments to 100% carbon-free electricity by 2030 and net-zero emissions from federal procurement by 2050 (Executive Order). Ecomedes not only aligns with these initiatives but stands to benefit directly from them, reinforcing the strategic importance of its technology in the current landscape.
Pioneering position for the ESG-mandated assets trend: Effective ESG practices are increasingly being recognized as a potent strategy for cost reduction. Ecomedes positions itself squarely within this significant fiscal trend. With projections indicating that ESG-mandated assets will comprise over half of all global assets by 2025, Ecomedes' technology presents a powerful value-add for asset and business owners.
Ecomedes’ goals for Q3 and beyond
Product updates: Ecomedes is integrating AI technologies into their platform and transitioning from a monolithic to a micro-architecture tech stack to boost productivity and efficiency. The AI will focus on enhancing search functionalities for sustainable materials. Simultaneously, Ecomedes is broadening its product range with tools for businesses to navigate climate change risks, while also recruiting tech talent to quicken product development.
Go-to-market focus: Ecomedes is refocusing its customer strategy on medium and large material suppliers, large property management firms, governments, and Fortune 2000 companies.
Expanding materials database: Ecomedes has surpassed their goal of listing over 1M products with impact-aware profiles. The catalog is the largest of its kind. Next steps include integrating this catalog into the Mortarr design suite and then into other applications.
International growth: Ecomedes management sees tremendous opportunity in the EU, Canada, and Australia. So far, two existing clients have expanded ARR for international support with more to come.
As we look to the future, Ecomedes shows no signs of slowing down. The company’s forward-thinking approach is positioned perfectly within a landscape where 93% of companies acknowledge the material risks posed by climate change (Sustainability.com). By providing crucial tools and resources necessary to navigate these challenges, Ecomedes is perfectly poised to capitalize on this heightened awareness and drive significant change in the industry.
We think the company’s recent growth is just the beginning. If you, or any real estate owners you know, are interested in Ecomedes' offerings, please don't hesitate to reach out.
Connect with Hamilton Ventures
If you are interested in investing in our portfolio opportunities, reach out to Prashant Kothari: firstname.lastname@example.org