Newforma
“Can Newforma become the connective 'single source of truth' PIM layer bridging design, construction, and owner workflows in AECO?”
Founded2004
HQManchester, New Hampshire, USA
Total raised$25.1M (pre-PE)
Latest roundPE Growth / Acquisition by Ethos Capital
IndustryVertical SaaS / Construction
The story
Founded in 2004 (formerly AEC1) as a project information management (PIM) software vendor for architecture, engineering, construction, and owner/operator (AECO) firms. Grew through the Newforma Project Center on-premise product, then expanded to cloud with Newforma Konekt and Newforma ConstructEx. Acquired by Ethos Capital in 2023, now scaling cloud + AI on AWS. Newforma has no embedded finance layer — it is a pure vertical SaaS document/coordination tool for AEC.
Product timeline
2004
Founded as AEC1 / Newforma to build project information management software for the AECO industry· pivot
2018
Data Protection Addendum published for GDPR compliance· pivot
2023
Ethos Capital acquires Newforma as majority investor· acquisition
2024
Announced 7-year strategic cloud & AI collaboration with AWS, including FedRAMP readiness and generative AI capabilities· pivot
The stack
1 layer disclosed in Newforma’s embedded-finance stack
Accounting
Accounting gap: none