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L117 : How Cove.tool Cracked the Code on Energy Modeling Software with Patrick Chopson
The interview with Patrick Chopson, co-founder of Cove.tool, covers his entrepreneurial journey building a software company in the architecture, engineering and construction (AEC) industry. Patrick discusses the highlights of getting the daylight simulation engine and energy modeling engine working after years of bootstrapping and consulting work. He explains how they validated the product idea through extensive customer research and finally launched their MVP in 2017. Since then, Cove.tool has expanded the product capabilities, raised funding from investors like Robert Downey Jr., and grown to over 20,000 users. Looking ahead, Patrick shares his vision for creating a building information network by connecting people and data through APIs. Throughout the interview, he provides insights on startup challenges, company culture, recruiting, sales, pricing, and more based on his experience as a technical founder and CEO in the AEC tech space.
00:00 - Introduction
00:18 - Patrick's background and getting started with Cove.Tool
01:23 - Developing the daylight simulation engine
02:30 - Bootstrapping the business in the early days
03:21 - Bringing on technical co-founder to build the product
04:26 - Launching the MVP at Greenbuild 2017
05:13 - Raising funding and growing the team
06:09 - Developing the product based on customer feedback
07:38 - Selling to architects and overcoming skepticism
08:36 - Learning from old research papers for efficient computations
09:03 - Developing business and sales skills
10:36 - The challenges of extensive business travel
11:58 - Advice for founders - listen to feedback but believe in your vision
13:20 - Upcoming product launches and the building information network
14:25 - Advice for pitching and finding the right investors
15:00 - Growing the product team in 2022
15:44 - Leveraging APIs and integrations with other platforms
16:29 - The biggest challenge is articulating the value proposition
17:18 - Middle managers as the biggest roadblock to tech adoption
18:59 - The potential of AI in architecture and construction
20:06 - The infrastructure needed to apply AI and generative design
20:25 - The importance of linking geometry and data in generative tools
21:51 - Perspective on blockchain and the metaverse
23:27 - The problem solving culture and rapid iteration cycles at Cove.Tool
24:50 - Recruiting and demonstrating the exciting things happening
25:41 - Patrick's advice for new founders
26:29 - Cove.Tool's global customer base
27:53 - Pricing based on the value delivered to customers
29:01 - Starting with the largest addressable market
30:50 - Getting the first customers through face-to-face meetings and trust
32:15 - Similarities in architecture globally
33:35 - Closing thoughts - focus on the fundamentals and math
startup, entrepreneurship, SaaS, AEC industry, architecture, construction, energy modeling, simulation, validation, customer research, MVP, fundraising, investors, Robert Downey Jr., product development, building information, APIs, technical founder, CEO, startup challenges, company culture, recruiting, sales, pricing
#covetool #sustainability #architecture
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By Mayur M MistryThe interview with Patrick Chopson, co-founder of Cove.tool, covers his entrepreneurial journey building a software company in the architecture, engineering and construction (AEC) industry. Patrick discusses the highlights of getting the daylight simulation engine and energy modeling engine working after years of bootstrapping and consulting work. He explains how they validated the product idea through extensive customer research and finally launched their MVP in 2017. Since then, Cove.tool has expanded the product capabilities, raised funding from investors like Robert Downey Jr., and grown to over 20,000 users. Looking ahead, Patrick shares his vision for creating a building information network by connecting people and data through APIs. Throughout the interview, he provides insights on startup challenges, company culture, recruiting, sales, pricing, and more based on his experience as a technical founder and CEO in the AEC tech space.
00:00 - Introduction
00:18 - Patrick's background and getting started with Cove.Tool
01:23 - Developing the daylight simulation engine
02:30 - Bootstrapping the business in the early days
03:21 - Bringing on technical co-founder to build the product
04:26 - Launching the MVP at Greenbuild 2017
05:13 - Raising funding and growing the team
06:09 - Developing the product based on customer feedback
07:38 - Selling to architects and overcoming skepticism
08:36 - Learning from old research papers for efficient computations
09:03 - Developing business and sales skills
10:36 - The challenges of extensive business travel
11:58 - Advice for founders - listen to feedback but believe in your vision
13:20 - Upcoming product launches and the building information network
14:25 - Advice for pitching and finding the right investors
15:00 - Growing the product team in 2022
15:44 - Leveraging APIs and integrations with other platforms
16:29 - The biggest challenge is articulating the value proposition
17:18 - Middle managers as the biggest roadblock to tech adoption
18:59 - The potential of AI in architecture and construction
20:06 - The infrastructure needed to apply AI and generative design
20:25 - The importance of linking geometry and data in generative tools
21:51 - Perspective on blockchain and the metaverse
23:27 - The problem solving culture and rapid iteration cycles at Cove.Tool
24:50 - Recruiting and demonstrating the exciting things happening
25:41 - Patrick's advice for new founders
26:29 - Cove.Tool's global customer base
27:53 - Pricing based on the value delivered to customers
29:01 - Starting with the largest addressable market
30:50 - Getting the first customers through face-to-face meetings and trust
32:15 - Similarities in architecture globally
33:35 - Closing thoughts - focus on the fundamentals and math
startup, entrepreneurship, SaaS, AEC industry, architecture, construction, energy modeling, simulation, validation, customer research, MVP, fundraising, investors, Robert Downey Jr., product development, building information, APIs, technical founder, CEO, startup challenges, company culture, recruiting, sales, pricing
#covetool #sustainability #architecture