A software business with a strong foundation poised to lead a digital transformation of the residential construction industry
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STATUS
Active
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Year
2020
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LOCATION
Omaha, NE
KEY TRANSACTION DETAILS
- 2020 Investment (Bain Capital Tech Opportunities)
BUSINESS OVERVIEW
The leading cloud-based project management software tool used by homebuilders, remodelers and specialty contractors
2M+
Construction projects completed
THE BAIN CAPITAL ADVANTAGE AT WORK
The foundation of Bain Capital’s investment in Buildertrend is deep experience in both SMB software ecosystems and the construction industry, a massive sub-sector that is in the early innings of technology adoption.
The twin challenges (and opportunities) faced by Buildertrend are the bespoke nature of construction projects and a patchwork of manual approaches making coordination and planning very difficult.
Bain Capital leaned heavily into the thesis that Buildertrend was poised to lead the construction industry forward as it adopts workflow software to streamline every aspect of a job from purchasing to planning to payment.
In particular, Bain Capital leaned on its institutional experience and network in payments as we worked alongside the management team to hire exceptional leaders, design a multi-year strategy and invest heavily in product and infrastructure to support exceptional growth in Buildertrend’s payments offerings.
In partnership with Bain Capital, Buildertrend also mapped out an M&A strategy that identified key opportunities to stack additional capabilities on the platform, which extended the product value proposition and addressed key customer pain points. With Bain Capital’s support, the transformational merger of Buildertrend and CoConstruct, a complementary provider of project management software, created an even stronger combined offering for a network of 23,000+ construction clients.
Today, Buildertrend is a business on the cusp of taking the booming construction business to previously unimaginable heights of efficiency and growth.
Vertical market software companies are high-quality businesses, but often are in somewhat constrained market sizes. What Buildertrend shows is that if you treat your customers right, think about their pain points and then strategically invest in the product, these businesses can have the best of both – quality of a vertical market with a large addressable market.
