PORTLAND, Ore. — (BUSINESS WIRE) — February 1, 2010 — Coaxis, Inc., the parent of Viewpoint Construction Software (USA), Viewpoint Construction Software (Canada), and Viewpoint Construction Software (Australia), announced it secured funding to accelerate its North American and Australian expansion. Viewpoint’s V6 software, a Microsoft SQL/Server .NET based ERP solution for a wide range of commercial construction firms, has enjoyed record growth despite economic headwinds.
“Contractors are seeking value-based contemporary software solutions to address the rising complexity and risk profiles of construction projects,” notes Jay Haladay, Coaxis’ Chief Executive Officer. “Construction professionals need real-time project information to keep projects on track. But they also require comprehensive accounting software that is tightly integrated with project-specific data in order to fulfill the increased information demands from project owners as well as lending, insurance, bonding, and governmental project partners. Firms are also preparing for the inevitable upswing in the economy. As a result, successful construction companies are re-engineering their internal processes and procedures. Updating their technology infrastructure is often a major part of these processes, and more construction companies are turning to Viewpoint V6 Software® as the answer to these requirements,” continued Haladay.
Viewpoint is focusing this funding on its marketing and product distribution efforts. “Viewpoint has been able to merge 30 years of experience serving the construction market with contemporary software architecture and scalable services within a dynamic company culture. But Viewpoint is not widely known,” adds Jim Paulson, Chief Operating Officer. “These additional funds will allow us to extend Viewpoint’s brand awareness and distribution options to fuel further growth,” Paulson continued. “Updata’s investment is a signal that they concur with our opportunities for the future.”
Research indicates that construction touches almost 10% of global GDP activities. Infrastructure investments in sustainable energy production, for example, are increasing construction activity among construction sectors served by Viewpoint’s products. Updata’s investment and experience will assist the Viewpoint management team to take advantage of these growing business opportunities. Updata is a leading US growth equity firm with over $500 million in assets under management and a ten year investment focus on enterprise software, services and digital media. John Burton, Updata’s founder and Managing Director, will serve on the Coaxis board. Over his 25 plus year career, Mr. Burton has assisted many management teams in operating and accelerating successful businesses.
Commenting on their investment in Coaxis, Mr. Burton noted “Viewpoint appears to be uniquely situated to take advantage of a major change in the construction software market. The combination of a functionally superior product, strong customer advocacy, and an experienced management team all combined to persuade us that Viewpoint will grow rapidly over the coming years.”
About Updata Partners:
Updata Partners is a growth stage venture capital and private equity firm investing in software and technology-driven business services companies. They work closely with companies in the expansion phase of their lifecycles to enhance operational, financial and strategic decision-making and accelerate growth. For more information, visit updatapartners.com
With a long-standing focus on meeting the information needs of mid to large-scale organizations, Viewpoint has achieved a leadership position in construction enterprise software. Built on a contemporary and scalable Microsoft .Net platform, the firm provides construction-specific solutions that address the unique needs of leading firms throughout the U.S., Canada and Australia.
Viewpoint works closely with its customers to gain specific insights necessary to evolve the software as industry conditions change. The result is software that is built to adapt and scale as customers’ business needs grow and change. Most importantly, it means providing an information platform as rock-solid as the foundations our customers build their roads, bridges and buildings upon. For more information, visit viewpointcs.com
© 2010 Coaxis, Inc. dba Viewpoint Construction Software. All Rights Reserved. Viewpoint® and Viewpoint V6 Software® are trademarks or registered trademarks of Coaxis, Inc. dba Viewpoint Construction Software, in the United States and/or other countries.