Bidcurement

Digital Collaborative Procurement Software
  • Aurora, IL
  • Technology
Bidcurement provides SaaS-based, AI-driven technology and analytics specializing in infrastructure contractual services and products that require competitive bidding.

Terms

Debt/Equity
Offering Type
$1.00
Price per Note
$11.6M
Pre-Money Valuation
Conv. Notes
Security
$200
Min. Reservation
TTW
Offering

This Reg CF Test the Waters offering is made available through TycoonoInvest Portal LLC

Reserving securities is simply an indication of interest that involves no obligation or commitment of any kind.


Why Be Interested in Bidcurement?


 

  • Easy to implement solution that reduces the time, effort, cost, and work quality issues that businesses, governments, and communities routinely experience in procurement of goods and services.

 

  • Large global market for contracted services. In just the US, the procurement of goods and services by federal, state, and local agencies through the public bid process is worth more than $3 trillion annually and includes more than one million formal procurement solicitations each year. Ineffective government procurement practices cost US taxpayers an estimated $50 billion each year.

 

  • Patent-pending technology to leverage extensive industry knowledge, experience, and connections to revolutionize the manner in which goods and services are procured and delivered, regardless of industry, nature of goods/services, or context in which goods/services are procured.

 

  • A strong, diverse, multi-faceted, and highly passionate team of individuals with extensive, end-to-end experience on both the procurement and delivery sides of contracted goods and services in a variety of real-world contexts.

 

  • Multiple revenue stream business model with estimated Year 3 net operating income of $14.0 million on total revenue of $17.0 million.


Management Team


 

Chad Smeltzer, Founder and CEO

Prior to founding Bidcurement, Chad designed an asset management procurement system to help engineers and cities plan their capital projects. He used this knowledge to take Midwest Water Group, a struggling company with one employee at the time, to a company that reached $5.5M in revenue in 3 years with 22 employees, which ultimately led to a buyout at very favorable terms.

At Duke’s Root Control, Chad’s sales capabilities and operational management skills led to over $1.5M in sales over 3 years in a single territory. He also handled the day-to-day operations of crews, the scheduling of projects, and the collaboration with clients to help improve operational efficiencies.

 

Brian Coopman, COO

With Ultimate Kronos Group, Brian served as a sole, company-wide, subject matter expert on all matters of public sector contracting, procurement, and budgeting. He trained and collaborated with UKG sales teams (field sales, inside sales, New Logo, Telestaff, healthcare) and other UKG business units (renewals, contracts, sales operations, legal) on the tactics and techniques to drive revenue in the public sector using innovative contracting options.

Brian served as an industry expert within Cartegraph for the government/public works market as it relates to public administration and public policy, organizational development, asset management optimization, and capital project budgeting.

At the City of Davenport Public Works in Iowa, Brian’s role was to research, identify, analyze, and recommend solutions for department programs and policy issues as it pertains to public policy, technology integration, operational efficiency, and project management. He provided executive managerial advice & support, budgetary analysis, and asset management tracking to eighteen public works divisions.

 

Matthew Owen, CTO

Matthew is a technology leader with 25+ years’ experience transforming companies as a trusted partner to small and mid-sized businesses. He is an 8-time Inc. 5000 winner and a Built-In Chicago “Top 50 Startups to Watch” nominee. He is recognized as a visionary force in the rapidly changing tech arena. His track record includes launching two successful startups, with expertise in all aspects of building companies. He is also known as Chicago’s foremost IT subject matter expert, pioneering the locally managed service provider (MSP) market and has completed 1000+ projects with a 99% success rate and over 2 million documented problems solved.

Offering Summary

Company: Bidcurement Inc.

Address: 2057 Gardner Cir W, Aurora, IL 60503

Minimum Reservation: $200

Offering Minimum: $10,000

Offering Maximum: $1,000,000

 

Terms

Offering Type: Debt/Equity

Security: Convertible Notes

Price per Note: $1.00

Minimum Number of Notes Offered: 10,000

Maximum Number of Notes Offered: 1,000,000

Pre-Money Valuation: $11,565,000

DURING THE TEST THE WATERS PHASE OF THIS REG CF OFFERING, NO MONEY OR OTHER CONSIDERATION IS BEING SOLICITED, AND IF SENT IN RESPONSE, WILL NOT BE ACCEPTED. NO OFFER TO BUY THE SECURITIES CAN BE ACCEPTED AND NO PART OF THE PURCHASE PRICE CAN BE RECEIVED UNTIL THE OFFERING STATEMENT IS FILED AND ONLY THROUGH AN INTERMEDIARY’S PLATFORM. AN INDICATION OF INTEREST INVOLVES NO OBLIGATION OR COMMITMENT OF ANY KIND. RESERVING SECURITIES IS SIMPLY AN INDICATION OF INTEREST.

Updates

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