What is Newforma?
Newforma has revolutionized Project Information Management for the AEC industry by connecting data, processes, and people. As the industry standard for managing project information, their mission is to provide seamless access to critical data for all project stakeholders, regardless of location or time. The platform integrates with widely used applications such as Microsoft 365, Procore, Autodesk, Bluebeam, and ProjectWise, consolidating RFIs, submittals, emails, drawings, models, and files onto a single, unified platform. This approach alleviates the overwhelming burden of managing project information across disparate systems, enhancing efficiency and collaboration.
How much funding has Newforma raised?
Newforma has raised a total of $25.1M across 3 funding rounds:
Series B
$8M
Series C
$12M
Series D
$5.1M
Series B (2005): $8M with participation from Borealis Ventures and Kodiak Venture Partners
Series C (2008): $12M led by Kodiak Venture Partners, Borealis Ventures, and North Bridge Venture Partners & Growth Equity
Series D (2013): $5.1M supported by Kodiak Venture Partners and Borealis Ventures
Key Investors in Newforma
Kodiak Venture Partners
Founded in 1999, Kodiak Venture Partners manages three funds totaling $676M and targets companies in North America. They focus on seed and early-stage investments in emerging communications/wireless, semiconductor/equipment, software/services, internet/new media, and life technology companies. Kodiak's partners are successful high-technology business entrepreneurs who take a hands-on approach to building market leaders.
Borealis Ventures
Borealis Ventures focuses on building visionary healthcare companies by bringing together essential elements for success. They are involved in various developments in the healthcare sector, including significant studies and collaborations. Their aim is to support innovative solutions in the healthcare field.
North Bridge Venture Partners & Growth Equity
North Bridge Venture Partners & Growth Equity is an investment firm that focuses on providing capital and strategic guidance to technology companies. They are known for their involvement in various stages of company growth, supporting businesses in scaling their operations and market reach.
What's next for Newforma?
With a history of substantial capital injections, including Series B, C, and D rounds, Newforma is well-positioned for continued expansion and innovation in the Project Information Management space. The company's focus on integrating with a broad spectrum of industry-standard software indicates a strategy aimed at becoming the central hub for AEC project data. Future growth is likely to involve further platform enhancements, deeper integrations, and potentially exploring new market segments within the broader construction technology landscape. The consistent backing from venture capital firms suggests confidence in Newforma's business model and its ability to scale.
See full Newforma company page
