HomeSphere, who purchased BuildSoft from former RTP company BuildNet and still has an office there, has raised an additional $2 million in venture capital funding.
The series C round was led by Sequel Partners, a Boulder, CO-based venture capital firm specializing in emerging technology businesses located primarily in the Rocky Mountain region. Marcus & Millichap Venture Partners also participated in the round. Both were returning investors.
Homesphere says it raised the funds primarily for two recent acquisitions, BuildSoft and BuilderWorks, as well as for additional corporate development initiatives.
BuildSoft, developed by BuildNet, is a PC-based, project management and accounting package. It’s geared to small and medium-sized builders and has over 12 percent market share among the nation’s residential housing starts, with over 3,000 users.