Buildertrend Acquires CoConstruct to Create Market Leader in Construction Management Software
Will offer the most comprehensive suite of SaaS products and services that empower independent and custom residential construction businesses
Combined network serves 23,000+ clients and generates over $100MM in annual recurring revenue
Buildertrend, the leading provider of cloud-based construction management software for homebuilders, remodelers and specialty contractors, announced the acquisition of CoConstruct, a complementary provider of construction project management software for the residential construction industry. Funding for the acquisition is provided by a growth investment in Buildertrend by Bain Capital Tech Opportunities and HGGC. Existing CoConstruct investor Serent Capital is reinvesting in the combined company. Buildertrend Co-Founder and CEO Dan Houghton will lead the combined company alongside Co-Founders Steve Dugger and Jeff Dugger. CoConstruct Founder Donny Wyatt will serve as an advisor to lead integration efforts.
This transaction makes Buildertrend the largest construction management software platform dedicated to empowering independent and custom homebuilders, contractors and remodelers with the tools to better coordinate projects, control finances and communicate with clients and crews. The integrated, SaaS-enabled platform offers flexible project management, bookkeeping, supplies procurement, customer engagement and payments services to alleviate the most common pain points that lead to costly, uncoordinated projects and dissatisfied clients. The combined business served 23,000 clients, over 1.1 million users and facilitated over $200 billion in annual construction project value in 2020.
Recommended AI News: ZTE Launches Intelligent Orchestration Radio Network Solution
“Our industry is one of the fastest growing in the U.S., yet it lags in digital innovation and relies on antiquated project management systems to overcome a complex value chain and fragmented contractor ecosystem,” said Houghton. “This acquisition, together with continued support from our best-in-class set of enterprise software investors, positions Buildertrend to significantly expand our market share and continue delivering innovative, value-added solutions that improve client success and efficiency.”
CoConstruct was founded in 2005 in Charlottesville, Virginia with a mission to bring residential construction project management into the 21st century. The Company has been recognized as Constructech’s #1 Software Platform for Construction Collaboration for over ten years in a row, reflecting its best-in-breed product pipeline that meets the growing demands of residential construction managers. Buildertrend clients will also realize cost savings and efficiencies with the integration of CoConstruct’s October 2020 acquisition of CBUSA, the nation’s largest homebuilder group purchasing organization.
Recommended AI News: Avast Announces Partnership with PMovil
“It’s rare to see two market-leading providers share a full-breadth of complementary operations and product capabilities, but each with their own unique ways of addressing customer challenges,” said Wyatt. “We’re thrilled to bring together our complementary approaches and build an even stronger platform with the combined teams’ scale and shared culture of innovation.”
“Buildertrend and CoConstruct are award-winning companies that demonstrate to homebuilders, remodelers and contractors on a daily basis there is an alternative to the chaos of delayed and overbudget projects,” said Phil Meicler, a Managing Director at Bain Capital Tech Opportunities. “We’re proud to partner with Serent and HGGC to back the combination of these two companies, who are poised to disrupt the residential construction market,” added Scott Kirk, a Partner at Bain Capital Tech Opportunities. Bain Capital has provided support and resources for the combination of a number of its portfolio companies with other leading market players, including A Cloud Guru with Linux Academy, Zelis with RedCard, Navicure with ZirMed to form Waystar, and HST with Casetabs.
Recommended AI News: ZTE i5GC Enables Private Networks for Digital Transformation of Vertical Industries
Scrap copper merchants Copper scrap export Scrap metal recovery facility
Recycling Copper cables for cash, Scrap metal reprocessing and recycling, Scrap copper yard
This acquisition marks a significant step forward for both Buildertrend and CoConstruct, bringing together two strong players in the digital construction management software space. By combining their strengths, they will likely provide even more powerful tools for homebuilders, remodelers, and contractors, making project management smoother and more efficient. For businesses in the construction industry, adopting digital construction management software like this is essential for staying competitive and improving operational efficiency. As technology continues to shape the industry, solutions like Buildertrend and CoConstruct offer a glimpse into the future of construction management, where digital tools are key to success. If you’re not using digital construction management software yet, now might be the perfect time to explore these innovative solutions
This is an exciting development for the construction industry! The merger between Buildertrend and CoConstruct brings together two powerful tools that can really help homebuilders and contractors streamline their projects. If you’re not already using digital construction management software https://www.teknobuilt.com/ , now is a great time to start exploring it. These types of tools can improve efficiency, reduce mistakes, and keep everything organized. As technology continues to grow, adopting digital construction management software is becoming essential for staying ahead in the competitive market.