Nemetschek Group has agreed a deal to acquire all the shares of GoCanvas, a provider of field worker collaboration software
Based in Reston, Virginia, GoConvas offers Software-as-a-Service (SaaS) cloud and mobile field worker solutions that collect real-time data to support collaboration across worksites, creating digital checklists and data-driven decision-making.
The company had more than 300,000 active users worldwide in the first quarter of 2024. It employs over 300 people in the US, Canada, Australia and South Africa.
With Annual Recurring Revenue (ARR) of around 20% in recent years, it generated ARR of US$67m in 2023.
‘A perfect fit’
Nemetschek said GoCanvas will join its Build segment, which offers subscription and SaaS solutions for AEC professionals.
It will complement the group’s largest brand, Bluebeam, in offering collaboration software for the built environment, simplifying operations for across construction, manufacturing and energy.
This will boost productivity and efficiency for field workers, including reduced travel, heightened safety measures and improved collaboration.
The move further strengthens Nemetschek’s presence in the US, while giving GoCanvas a foothold to expand in Europe and Asia-Pacific.
“GoCanvas is a great fit and a perfect complement to our existing solution portfolio in the Build segment and therefore represents a valuable addition to our expertise in covering the complete AEC/O lifecycle,” said Nemetschek CEO Yves Padrines.
“Adding the powerful solutions of GoCanvas gives us a strong competitive edge while opening access to a rapidly growing market for field workforces in construction and other adjacent verticals.”
GoCanvas CEO Viyas Sundaram added: “We are thrilled to join the Nemetschek Group as we continue our mission to simplify inspections and digitize paper-based processes.
“This partnership will accelerate our growth and development, allowing us to offer our solutions to a wider range of customers. Together, we will support them in safeguarding their people, protecting their assets and delivering exceptional quality.”
As part of the deal, Sundaram will join the Nemetschek Group.
The GoCanvas agreement comes after Nemetschek announced a follow-on investment in automated construction scheduling start-up SmartPM.
