Omaha, Nebraska-based construction management software company Buildertrend announced Wednesday it has acquired Charlottesville-based CoConstruct, a similar software company.
Financial terms of the transaction were not disclosed, but the two businesses in 2020 served a combined 23,000 clients and more than 1.1 million users, representing more than $200 billion in annual construction projects. The transaction creates a company that will offer software services for project management, bookkeeping, supplies procurement, customer engagement and payments services.
Funding for the acquisition was provided by Bain Capital Tech Opportunities and HGCC. CoConstruct investor Serent Capital will reinvest in the combined company.