Hilti To Obtain Jobsite Administration Platform Fieldwire In $300M Deal

Fieldwire co-founders Yves Frinault and Javed Singha Martina McIsaac, CEO of Hilti North America (Hilti North America, Fieldwire)

A gangbusters 12 months in proptech dealmaking has yielded another large-ticket transaction in the building-tech area of interest.

Hilti, a world design software, providers and resources company, will receive the jobsite administration platform Fieldwire in a $300 million deal. San Francisco-centered Fieldwire, launched in 2013 by CEO Yves Frinault and President Javed Singha, permits construction personnel and web site supervisors to coordinate responsibilities, timetable and observe tasks, and deal with jobsite threat.

Liechtenstein-primarily based Hilti participated in Fieldwire’s Series B financing round in 2017 and guided the startup as it scaled in North America and expanded into Europe and Asia.

“Our primary concentrate has generally been to provide additional systems and progressive options in selected, evidently outlined fields of our portfolio and not to just buy quantity,” Martina McIsaac, CEO of Hilti North The us, mentioned.

Fieldwire experienced raised $40.4 million in prior rounds and experienced been preparing for yet another this summer when Hilti approached with the prospect of linking up.

“Hilti has programs to place a large amount of methods behind Fieldwire — an amount of money that is quite comparable to increasing a very huge spherical for Fieldwire,” Frinault reported in an job interview.

The purchase will come amid a terrific reawakening in development, as task websites worldwide come again on line immediately after additional than a year of pandemic-induced hibernation.

Fieldwire will keep all of its 130-additionally workforce and it plans to grow following it is absorbed into Hilti, Frinault mentioned.

The firm has workplaces in San Francisco, Phoenix, and Paris, France. Some 4,000 having to pay prospects have designed and managed a lot more than a million jobs on the platform as of November, it says.

The offer is expected to close in the fourth quarter.

Con-tech has been fertile floor for M&A and fundraising all through the yr. In September, Procore, a further maker of design management program, acquired the lien-payments system Levelset for $500 million, consolidating its situation in the field.

Previous month, Toronto-based Bridgit, a startup trying to get to modernize workforce administration and organizing, lifted $24 million in Collection B funding.