# Newforma

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/newforma

- Industry: Software
- Headquarters: Manchester, US
- Website: www.newforma.com
- Total disclosed funding: $31M
- Latest round: Series D (Dec 20, 2013)
- Investors on record: 4

## About

Newforma, Inc. is a US-based company that develops innovative project information management solutions to enhance collaboration and streamline workflows in the architecture, engineering, construction, and owner/operator sectors.Founded in 2003 in Manchester, US, Newforma, Inc. specializes in providing project information management solutions. The company has received funding through various rounds, with the most recent being a Series D round in March 2023 totaling USD 0.050 mn. The firm was recently acquired by Ethos Capital, which supports its development and expansion of product offerings. The current CEO is Brock Philp.Newforma specializes in project information management solutions tailored for the Architecture, Engineering, Construction, and Owner/Operator (AECO) sectors. Its core product offerings, including Newforma Konekt and Newforma Project Center, focus on enhancing collaboration, improving workflow efficiency, and managing construction-related information in real time. These platforms enable users to streamline their project administration processes, manage emails, oversee submittals, and utilize Building Information Modeling (BIM) tools effectively, ultimately facilitating better project delivery and communication among stakeholders. Newforma serves a diverse client base, comprising general contractors, architects, engineers, and owners/operators across various geographic markets, including North America, Europe, and Australia. The solutions are designed to resolve common industry challenges such as fragmented communications and inefficiencies in project administration, significantly reducing the time and costs associated with construction management.Newforma generates revenue primarily through a subscription-based model for its software solutions, allowing clients to access its platforms based on varying service tiers. Clients, which include firms in the AECO sectors, engage with Newforma by subscribing to its flagship products, such as Newforma Konekt, which enables seamless collaboration and project management. The pricing structure is designed to cater to both project-specific and enterprise-level needs, ensuring scalability for clients managing multiple projects simultaneously. By adopting these subscription plans, customers can streamline their construction administration processes, thus enhancing productivity and reducing costs associated with project delivery. The transactional framework supports direct relationships with businesses in the AECO industry, positioning Newforma as a critical partner in optimizing construction workflows.In March 2023, Ethos Capital acquired a majority stake in Newforma, Inc. from Battery Ventures. This acquisition will support the company's ongoing development and expansion of its product offerings. Newforma plans to design and launch new products aimed at improving project management solutions, although specific release dates have not been disclosed. The company is also targeting expansion into additional international markets to enhance its global footprint.

## Funding rounds

- Series D, Dec 20, 2013, $0.1M — North Bridge Venture Partners, Borealis Ventures
- Series D, Aug 21, 2013, $5.1M — Kodiak Venture Partners, North Bridge Venture Partners, Borealis Ventures
- Series C, Aug 27, 2008, $4M — Kodiak Venture Partners, North Bridge Venture Partners, Village Ventures, Borealis Ventures
- Series C, Mar 29, 2007, $8M — Kodiak Venture Partners, North Bridge Venture Partners, Borealis Ventures
- Series B, Oct 21, 2005, $8M — Kodiak Venture Partners, North Bridge Venture Partners, Borealis Ventures
- Series A, May 5, 2004, $5.3M — Kodiak Venture Partners, North Bridge Venture Partners, Borealis Ventures

## Investors

- Kodiak Venture Partners (https://capitalatlas.ai/funds/kodiak-venture-partners) — Series A, Series B, Series C, Series D
- North Bridge Venture Partners (https://capitalatlas.ai/funds/north-bridge-venture-partners) — Series A, Series B, Series C, Series D
- Borealis Ventures (https://capitalatlas.ai/funds/borealis-ventures) — Series A, Series B, Series C, Series D
- Village Ventures (https://capitalatlas.ai/funds/village-ventures) — Series C