Today, it was announced that BuildingConnected, a Bee Partners II portfolio company, has been acquired by Autodesk. This means a Q1 distribution event for our LPs. And, of course, it's a big win for everyone involved, especially Autodesk, which now has access to brilliant Co-Founders Dustin DeVan and Jesse Pedersen and to a market network technology that connects two sides of the unstoppable construction industry. Read more at Forbes.
Autodesk knows that tomorrow’s companies must have data at their core. That’s exactly what BuildingConnected represents within the construction industry. They’re an at-the-edge messaging platform for sub- and general contractors that simultaneously amasses data for actionable insights and revenue opportunities.
When we first met Dustin and Jesse, they represented exactly the dynamic duo we look for in a founding team, with Dustin's problem-Founder fit and Jesse's measured approach to building the solution. Their deep partnership, a myopic focus on the problem, and self-confidence in their potential as a team and an organization have brought them to this moment.
As we do for all our portfolio companies, Bee avidly engaged in making valuable introductions on BuildingConnected's behalf from day one. Looking back through years of correspondence this morning, I see the scores of customers, service providers, and investors we connected them with.
We were a smaller team then. As we've doubled in size and further proceduralized our approach, we know this is the right way to support Founders toward success. We also know we can do at least twice as much on behalf of our portfolio companies as we did for Dustin and Jesse.
Through BuildingConnected, we built relationships across several new investor groups with whom we celebrate today. And our network of bench participants rallied to support, including Founders within the portfolio that offered their time for reference and diligence calls.
A massive thank you to Dustin & Jesse. This morning I listened to a conference call with Dustin from early 2016 (ping us for replay info). With his usual good humor, he recalls his first failures and the long nights that led him to establishing a successful venture. He serves as a guiding light to the 40+ Founders in our existing portfolio and those to come.
See the stories here: