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 North Bridge Venture Partners & Growth Equity, Borealis Ventures, and Kodiak Venture Partners
Series D (2013): $5.1M supported by Kodiak Venture Partners and Borealis Ventures
Key Investors in Newforma
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. Borealis Ventures caters primarily to entrepreneurs and healthcare professionals seeking investment and partnership opportunities.
Kodiak Venture Partners
Founded in 1999, Kodiak manages three funds totaling $676M and targets companies in North America. Kodiak focuses 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. Previous Kodiak investments have included ALIS Corporation, Fluxion Biosciences, and Groove Mobile.
North Bridge Venture Partners & Growth Equity
Undisclosed investor participating in the funding round.
What's next for Newforma?
With a history of strategic capital injections, Newforma is well-positioned for continued expansion and innovation in the AEC technology sector. The company's focus on integrating diverse project data streams and its established presence as an industry standard suggest a future centered on deepening platform capabilities and broadening its market reach. Future growth will likely involve further enhancing its integration ecosystem and potentially exploring new service offerings to address evolving project complexities and digital transformation trends within the construction industry.
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