TA Associates has completed a $76 million minority investment in Coaxis, the parent company of Viewpoint Construction Software. Viewpoint provides financial/accounting compliance, operational, project and document management software for construction companies, and the investment will help the company in its core business model and accelerate the flow of new products and services. Coaxis is also backed by Updata Partners, which has retained a stake in the company.
Vertical Market Software
Since the beginning of 2008, private equity investors have completed 429 investments in U.S. Software companies, according to the PitchBook Platform. 59 of those transactions were completed this year, putting 2012's deal pace just behind that of 2011, which was a stellar year for activity in the industry with 113 completed deals and a median deal size of $84 million. Accounting for 23% of the activity since 2008, West Coast deals like the Coaxis investment are pretty common for the industry—which is little surprise considering the region's bustling tech industry.