# Flypaper Studio

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/flypaper-studio

- Industry: Software
- Headquarters: Phoenix, US
- Website: www.flypaper.com
- Total disclosed funding: $10M
- Latest round: Series A (Aug 4, 2008)
- Investors on record: 2

## About

Flypaper Studio Inc. provides advanced software solutions that enhance project predictability and risk management for the construction industry through their primary product, Sherlock.Flypaper Studio Inc. specializes in providing construction software solutions to improve project management. Founded in 1988 and headquartered in Phoenix, US, the company has undergone strategic shifts to focus on enhancing its software offerings. Nick Fredricks, the founder and current CEO, previously led initiatives in technology development before establishing Flypaper. The latest funding round was a Series A, raising USD 3.500 mn, with investors including SCF Partners and Sierra Ventures. The company has raised a total of USD 3.500 mn, with a current valuation of USD 16.172 mn as of its last funding round on May 11, 2011.FlyPaper Technologies, LLC specializes in construction software solutions, primarily focusing on enhancing project predictability and risk management through its flagship product, Sherlock. Sherlock streamlines collaborative efforts within construction projects, simplifying the identification and management of clashes in design models, reducing the time to address coordination issues from hours to seconds. The software enables users to visually pinpoint clashes in plan views with intuitive graphics, enhancing workflow for draftsmen, BIM coordinators, and MEP project leads. Targeting a broad client base in the construction industry, including mechanical and electrical engineering firms, general contractors, and project management teams, FlyPaper markets its products in North America and is expanding into international markets.FlyPaper Technologies engages in a subscription-based revenue model, offering access to their software solutions, particularly Sherlock, through tailored pricing plans. Clients typically enter into annual or multi-year agreements for uninterrupted access to updates, technical support, and new features. Transactional relationships exist primarily with construction firms and engineering companies, fostering long-term partnerships. Additionally, FlyPaper may employ tiered pricing structures based on the client organization's size or project scope, ensuring flexibility for users ranging from small firms to larger enterprises, which contributes to sustained revenue growth and client retention.Looking ahead, Flypaper Studio Inc. is focused on expanding its product line and geographic reach. The company is developing new features for Sherlock aimed at enhancing user experience and improving functionality, with anticipated rollouts in the coming fiscal year. They aim to penetrate additional international markets to broaden their client base. Recent funding from the Series A round will be utilized to support these initiatives, including potential marketing campaigns and product development efforts. The company also seeks to leverage its acquisition by Trivantis Corporation in May 2011 to explore synergies that can enhance growth potential and market presence.

## Funding rounds

- Series A, Aug 4, 2008, $3.5M — SCF Partners, Sierra Ventures
- Series A, Jan 30, 2008, $6.8M — SCF Partners, Sierra Ventures

## Investors

- SCF Partners (https://capitalatlas.ai/funds/scf-partners) — Series A
- Sierra Ventures (https://capitalatlas.ai/funds/sierra-ventures) — Series A