Bolstered by a recent $4 million investment, Tül, a Bogota-based developer of supply chain logistics technology, is preparing for expansion throughout Latin America.

Established by Enrique Villamarin Lafaurie and Juan Carlos Narváez, Tül’s platform links construction material manufacturers with the numerous small businesses throughout Latin America that manage approximately half of the inventory utilized on construction projects in the region, according to Lafaurie.

Prior to founding Tül, Lafaurie dedicated a decade to the construction sector, working at Cementos Argos, a prominent Colombian corporation responsible for a substantial portion of cement sales across North and South America.

“We facilitate connections between major construction firms and hardware retailers. This system enables manufacturers to engage directly with these stores, communicate with them, and implement targeted promotions,” explained Lafaurie. 

Through the digitization of a traditionally analog sector, the company has achieved a $10 million annual recurring revenue and onboarded 3,000 retail locations since its inception eight months ago.

This success has been limited to Colombia thus far, Lafaurie noted. The company is poised to initiate operations in Ecuador, which Lafaurie identified as the second-largest hardware market in Latin America when considering population size.

The company currently employs nine individuals and anticipates a considerable increase in its workforce with the infusion of new funding.

“Colombia implemented some of the strictest lockdown measures globally. Residents were largely confined to their homes, yet construction was classified as an essential service,” stated Eric Reiner, an investor at Vine Capital Management, who spearheaded the company’s initial funding round. “Tül enabled hardware stores to deliver products directly to construction sites. Leveraging their logistical infrastructure, they also launched a separate service providing sanitation equipment to facilitate the conversion of schools and laundromats into sanitation centers.”

Lafaurie characterizes Tül’s online platform as a critical resource for the industry.

“The entire industry experienced a shutdown, and we were able to sustain business operations by not only enabling direct delivery to construction sites but also by establishing sanitation stations within communities. This resulted in strong customer loyalty among those we assisted,” he said. “We are experiencing exceptionally high customer retention as a direct result.”