Tuesday, January 31, 2017

BuildGroup Invests $30M In CSDC Systems

Austin-based investment group BuildGroup said this morning that it has made a $30M investment in CSDC Systems, a developer of licensing, permittting, and compliance software for the local, state, and federal government market. BuildGroup said the funding will go towards customer growth, product expansion, support services and market leadership. BuildGroup's partners are Jim Curry (ex Rackspace), Pete Freeland (ex General Catalyst), Lanham Napier (ex Rackspace), and Klee Kleber (ex WP Engine, Rackspace). BuildGroup said senior financing for the transaction came from Comerica Bank's Technology & Life Science Division, and that it was advised by Cooley, LLP in the transaction.