Newforma, a Manchester, NH-based project information management (PIM) software company, closed a US$5.1m Series D venture capital round.
Backers included existing investors North Bridge Venture Partners, Kodiak Venture Partners, and Borealis Ventures.
The company intends to use the funds to develop new products and expand into new geographic markets.
Led by Chief Executive Officer Ian Howell, Newforma provides a comprehensive PIM solution for architects, engineers, construction firms, and owners to search project data, manage massive amounts of project email, share information securely between all of the companies working on a project, and provide a full audit trail to mitigate risk.
The company recently released the tenth edition of the Newforma solution, which supports projects that are being managed on premise, hosted in the cloud, and a suite of mobile apps for smartphones and tablets.
Newforma’s products are used by 1,000 organizations.