OMAHA, Neb., Dec. 24, 2020 /PRNewswire/ — Buildertrend, the primary provider of cloud-dependent computer software for homebuilders, remodelers and specialty contractors, now announced that it has acquired an expenditure from Bain Cash Tech Chances and HGGC to speed up its progress and grow the solutions it provides to customers. This initially institutional financial commitment will speed up Buildertrend’s growth trajectory by way of strategic acquisitions and drive growth into adjacent offerings these kinds of as payments, info analytics and contractor services. Economical terms of the non-public transaction were not disclosed.
Started in 2006 by Steve Dugger, Jeff Dugger and Dan Houghton, and based mostly in Omaha, Buildertrend is the leading cloud-dependent building administration system for household homebuilding, offering strong and fashionable building management instruments to extra than 16,000 homebuilding, transforming and specialty development firms, their sub-contractors and their clientele. Design groups depend on Buildertrend to operate their corporations by standardizing scheduling and workflows, dealing with payments, buy and modify orders, and bettering client interaction and visibility.
“We established Buildertrend with a eyesight to disrupt the construction industry and make the challenging homebuilding and specialty design system far more clear and productive,” stated Dan Houghton, Co-Founder and Co-CEO of Buildertrend. “Bringing high-top quality cloud-based programs to the sector has positioned our platform to be a distinct differentiator. It was a considerable decision to carry on a husband or wife for the first time, and we are enthusiastic to partner with Bain Cash and HGGC and to leverage their world wide networks and knowledge scaling vertical software package enterprises. This partnership will enable us to produce even a lot more value to our consumers throughout the planet.”
Buildertrend has achieved 45 p.c average year-around-calendar year earnings growth since 2015. Right now, the firm serves more than a single million users throughout over 100 international locations.
“Buildertrend is a mission-crucial, all-in-just one software program system that is reworking development with smarter interaction and processes,” said Phil Meicler, a Controlling Director at Bain Funds Tech Alternatives. “This partnership will travel ongoing financial commitment in product or service development, added expert services to the contractor base and strategic acquisitions that will present sizeable benefits to clients and the design sector total,” added Scott Kirk, a Lover at Bain Funds Tech Options.
This is the 2nd expense by Bain Cash Tech Possibilities this year in a founder-led vertical SaaS small business designed in Nebraska ( Hudl, May perhaps 2020 ). Bain Funds also has deep, organization-wide encounter across both equally vertical software program and development, obtaining invested in and scaled a vast range of technology firms together with HST, Viewpoint, Vertafore and Waystar.
“This partnership underscores a sturdy perception in Buildertrend’s mission and growth likely constructed on a solid basis by Steve, Jeff and Dan,” mentioned Dan Stanko, a Partner at HGGC. “Fueled by the sources and guidance of Bain Capital and HGGC, we are extremely self-assured that Buildertrend can even further accelerate expansion. We look ahead to our partnership with the co-founders, Bain Funds and the complete Buildertrend staff.”
Spurrier Money Associates served as the exceptional financial advisor to Buildertrend. Cooley LLP served as lawful advisor to Buildertrend. PricewaterhouseCoopers and Kirkland & Ellis LLP served as fiscal and legal advisors, respectively, to both Bain Money and HGGC.
Buildertrend is the major cloud-primarily based venture management application device applied by homebuilders, remodelers and specialty contractors. Considering that 2006, nearly 1 million customers throughout much more than 100 nations around the world have chosen Buildertrend as their most well-liked platform for actual-time collaboration all over every single phase of the building process. To find out a lot more about Buildertrend, check out buildertrend.com and @buildertrend.
About Bain Cash Tech Chances
Bain Capital Tech Chances ( https://www.baincapitaltechopportunities.com/ ) aims to assist growing know-how corporations achieve their whole prospective. We concentration on firms in significant, rising finish marketplaces with innovative or disruptive technological innovation wherever we think we can guidance transformational expansion. Our devoted, tenured group has deep expertise supporting expanding technological know-how businesses—bringing with each other differentiated backgrounds in non-public and general public equity investing as very well as technologies operating roles. We make investments behind basic extended-phrase tailwinds as engineering penetrates across industries, producing a significant and expanding quantity of financial investment possibilities. Bain Cash Tech Possibilities focuses on 5 priority sub-verticals: Application Application, Infrastructure & Safety, Fintech & Payments, Health care IT and Web & Electronic Media.
HGGC is a leading middle-current market non-public equity company with about $5.4 billion in cumulative funds commitments. Centered in Palo Alto, Calif., HGGC is distinguished by its Advantaged Investing solution that enables the business to source and receive scalable enterprises by way of partnerships with management teams, founders and sponsors who reinvest along with HGGC, developing a robust alignment of passions. Since its inception in 2007, HGGC has concluded a lot more than 190 platform investments, incorporate-on acquisitions, recapitalizations and liquidity events with an combination transaction worth of over $27 billion. Additional data, like a finish listing of latest and former portfolio firms is accessible at hggc.com.
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