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Chloe Smith has always had an entrepreneurial spirit and an eagerness to try new things. In university, Smith launched her own companies in house cleaning and selling local jewellery to help pay for tuition. After graduation, she worked in website design and software development before eventually working at Critical Mass, where she learned about the power of analytics.
But coming from a construction family — Smith’s dad owns a construction company — she knew that landing contracts for projects was typically a time-consuming procedure for construction companies. Smith recognized that while technology was being used in the process of building, there was potential to use technology when it came to sourcing and securing those contracts.
In October 2020, Smith launched her startup, Mercator.ai. The AI-powered software platform helps identify the most viable private projects in the commercial construction industry in their earliest stages — a task that could normally take between six to eight weeks — in just five minutes.
“I decided it was an opportunity during COVID to invest in myself and I took it,” says the founder and CEO.
In March 2023, Mercator.ai raised a $5.1 million CAD seed round and expanded its team from five people to 15 people. One of the businesses that ultimately invested in its pre-seed round was Smith’s former employer, Critical Mass.
“It’s actually pretty common, Calgary based folks investing in other Calgary based folks to build some pretty global stage innovation,” says Smith. “I think having more of that support out there, where we’re able to learn and grow from one another, that’s what will make this city a massive tech player.”
In October 2023, Smith was named the Most Promising Founder of 2023 in the Startup Alberta Tech Awards.