Joist

Market position

Described in company press releases as a leading invoicing and estimating platform for contractors, with a near five-star app store rating and a user base cited at over 115,000 contractors in 2019 and 150,000 contractors in EverCommerce brand materials.

Positioning centers on a simple, mobile-first workflow for on-the-go estimating and invoicing, with integrated payment collection and built-in homeowner financing available directly within the contractor's estimate and invoice flow.

Technology

Mobile applications for iOS and Android paired with a web application, covering estimating, invoicing, work orders, attachments, contracts and signatures, change orders, reporting, client notifications, integrated credit card processing and homeowner financing.

Go-to-market

Distribution through mobile app stores (App Store and Google Play) with a free core product used to convert users to paid Pro and Pro Elite tiers; since the acquisition, Joist is marketed as part of the EverCommerce portfolio of home and field services software.

Trades and home improvement contractors, including remodeling and specialty contractor businesses, primarily in North America; approximately 90 percent of Joist's revenue and customers came from the United States.

Geography

Headquartered in downtown Toronto, Ontario, with customers across North America; a San Jose office and a later small San Francisco team were both closed, and operations were consolidated in Toronto.

History

Joist began as a tool for contractor estimates and invoicing and around 2016 began experimenting with a marketplace product connecting contractors directly with homeowners, operating in Toronto and San Jose. The San Jose office was closed and, in 2016, the company laid off between 60 and 100 employees, initially attributed to a planned headquarters move from Toronto to Silicon Valley; the majority of those laid off had worked on the non-revenue-generating marketplace product, and the company ultimately never relocated. Following a leadership change in January 2018, Joist refocused on its core contractor software, adding payment processing and home improvement financing, which management said returned the business to profitability within roughly two years. A small San Francisco team was established during the rebuild and closed in March 2018. EverCommerce acquired Joist (reported in 2019 coverage; a 2020 EverCommerce release dates the acquisition to 2018), after which Joist launched Joist Pro in November 2019 and Joist Pro Elite in May 2020.

Risks & controversies

Joist laid off between 60 and 100 employees in 2016; the layoffs were initially attributed to a planned move of headquarters to Silicon Valley, a rationale disputed by former staff who cited significant issues with the company's revenue model. The marketplace product behind most of those roles was not generating revenue and the announced relocation did not occur, which the CEO later said affected the company's reputation.