What Is Buildertrend?
Buildertrend is a tech company that has created a cloud-based construction management platform designed specifically for home building, remodeling, and specialty construction businesses. The company was founded in 2006 by Steve Dugger, Jeff Dugger, and Dan Houghton in Omaha. Since its inception, Buildertrend has created features for every major part of the construction industry, including the pre-sale process, project management, financial tools, and customer management.
The different fields the company addresses provide services and tools such as daily logs to mark project progress, payment processing, scheduling, and email marketing. The company also offers a centralized communication portal to contact customers, receive their requests, and customize their needs. The effectiveness of all of these tools and the many others the company lists can best be seen in the number of professional users they have attained.
Buildertrend’s platform has gained significant popularity within the industries they aim to serve, leading to incredible growth since the company’s founding. In fact, in 2019, Buildertrend reached two major milestones. The company crossed well over 1 million unique users, and to help manage those users, they increased their workforce to over 500 employees. These numbers represent the long-term, positive trajectory Buildertrend has been on since its beginnings, with revenues and global presence growing alongside them.
Since 2015, the company has seen their annual revenue reach an average growth rate of 45% year over year, a massive sign of the exponential growth they are experiencing right now. Globally, those 1 million-plus users have come from over 100 countries, as Buildertrend continues to establish an international presence. These growth signifiers have in turn attracted financial backing and investment from two large companies who see potential to make Buildertrend even bigger in the near future.
Buildertrend’s New Investors
Due to consistent and impressive growth, Buildertrend recently announced that they have received an investment from Bain Capital Tech Opportunities and HGGC. This first institutional investment looks to most likely not be the last from the two companies, though the amount invested was not disclosed. The money will help Buildertrend continue to expand through strategic acquisitions and the development of new tools in broader areas such as payments, contractor services, and data analytics. This would make Buildertrend the singular stop for basically every aspect of building and selling a new piece of real estate — streamlining the process even more for their many users.
Buildertrend is a company that has already seen impressive growth over the past few years. With millions of customers using the platform, a popular app available for iOS and Android, footholds in over 100 different countries, and a revenue that is doubling nearly every two years, the company can be labeled a verified success. However, the addition of institutional investments from Bain Capital Tech Opportunities and HGGC pushed Buildertrend to a new level. With the added capital, the company can establish itself as the largest and most important platform in the entire construction industry.
About the Author
Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.