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To reach a truly connected Gigabit Britain, every home and business needs to have access to the best connectivity, and partnerships among fibre industry leaders are critical to bridging this gap. Two industry leaders have come together to help BSPs level up their network deployments: Calix, and Virtuvi. And will be present at Connected Britain and have brought to market a fully integrated technology ecosystem. ISPs looking to build and optimise their networks require collaborative environments and streamlined processes. By leveraging the power of Vitruvi’s GIS-based SaaS telecom construction management software, and the Calix Software and Intelligent Access Edge platform, altnets have all the building blocks to initiate a game-changing deployment. This combination of solutions allows altnets to visualize, plan and build their network from start-to-finish and end-to-end—all with the experience and combined vision of two partners that have extensive collaboration under their belts with not only altnets, but also with each other. This greatly simplifies every part of the process for altnets, collapsing what used to be multiple, distinct touchpoints into one unified effort. At this year’s Connected Britain, both will showcase their innovative solutions as sponsors of the UK’s most important connectivity event. In addition to demonstrating their shared value, each partner is sponsoring an award at the event. Full Fibre ISP Innovation, sponsored by Calix. This award recognises altnets that are true “champions” of full fibre, demonstrating entrepreneurial spirit or breaking through barriers to market entry to grow their businesses—and help drive full fibre adoption in their operating areas. As a cloud and software platform company that is helping altnets innovate how they deliver Gigiabit services to their communities, Calix has sponsored this award to highlight local or regional marketing innovation, creative approaches to achieving results in a crowded connectivity market, and excellence specifically in the areas of education and empowerment from altnets to their customers. Project Roll-Out, sponsored by Vitruvi. This award recognises any organisation that has been outstanding in enhancing the delivery of gigabit capable broadband in the UK—particularly via the development of engineering and delivery strategies. As a build management software that unites project workflows, designs and PIA data into one easy-to-use GIS and mobile platform., Vitruvi has sponsored this award to highlight those organisations and broadband builders that have adopted accelerated rollouts to help create a connected Britain. Learn how these three industry leaders come together to help accelerate and streamline network deployment by visiting them at Connected Britain , where they’ll be attending, presenting, and hosting networking events. Don’t miss the event from September 20-21 at ExCeL London. Share

See Why Calix, and Vitruvi are Better Together at Connected Britain 2023

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Plus: Constellation Software acquires Optimal Blue, Vitruvi acquired by Bow River Capital. Share on:
The SaaS Weekly is a weekly newsletter covering major SaaS news from Canada and around the globe. Subscribe to S|W using the form at the bottom of this page to ensure you don’t miss out on the most important SaaS news every week! Vancouver-based ProShop ERP, which provides enterprise resource planning (ERP) software for manufacturers, has received a $32-million USD investment from growth equity firm Mainsail Partners. ProShop is meant to help manufacturers move away from paper-based workflows and into a web-based environment. It offers its ERP software to manufacturers in regulated industries such as defence, aerospace, and health care. Toronto-based Constellation’s Perseus operating group will pay US$700-million for Optimal Blue, which provides data services to the mortgage industry, in a deal that could pave the way for the owner of the New York Stock Exchange to become the largest mortgage services provider in the United States. Need for speed. The SaaS market is anticipated to rise quickly in the next five years. For some companies, it will be a sprint to keep up. Get the best next generation talent to accelerate your business at the speed you need. Hiring Waterloo co-op students = investing in innovation. The Federal Trade Commission (FTC) is suspending its administrative challenge seeking to block Microsoft from buying Activision Blizzard for $68.7 billion. Microsoft and Activision Blizzard still haven’t completed the acquisition yet, and the FTC could re-file this administrative challenge while Microsoft continues to negotiate with the UK’s CMA. Victoria-based Checkfront, which offers booking software for the tourism industry, is merging with Rezdy, an Australian company that operates in the same space. There are currently no plans to merge the brands as they will continue to operate independently. Co-founded by Jason Morehouse and Grant Jurgeneit in 2008, Checkfront’s platform allows tour and activity operators to accept reservations, process payments, track customers, sign waivers and documents, as well as simplify pricing, seasonality, and inventory requirements. User engagement on Threads has continued to fall after an initial surge in sign-ups, putting pressure on parent Meta Platforms to roll out new features for its nascent microblogging app. For a second week in a row, the number of daily active users declined on Threads, falling to 13 million, down about 70% from a July 7 peak, according to estimates from market intelligence firm Sensor Tower. RBC Capital Markets hosted its fourth annual Canadian Private Technology Conference at the end of June, an exclusive gathering in Toronto of more than two dozen executives and founders from 17 tech companies across multiple disciplines and several venture capital firms. The event culminated with a conversation with keynote guest, Apple co-founder Steve Wozniak, who shared his own entrepreneurial journey and his perspective on the tech and AI landscape today. "One of the weirder phenomena of the low interest rate era in tech was a tendency to see companies primarily as investments. The goal was not to have a functional business, but an exit, often via IPO or acquisition. I have begun to wonder if that explains what Reddit CEO Steve Huffman has been up to lately." Following the decision to forcefully reopen  subreddits that were closed in protest of Reddit's API changes , some wonder what direction Reddit is headed. Following a sluggish start to the year, two of Canada’s largest tech ecosystems saw a resurgence in venture funding in the second quarter of 2023, according to new data from briefed.in. Mostly thanks to a handful of very large deals, tech startups in Toronto raised a cumulative $1 billion in Q2, up 733 percent from Q1 2023 and up 71 percent year-over-year. A similar story unfolded further west. BC’s tech startups raised $639.6 million in Q2, which represents a 573 percent increase quarter-over-quarter and a 213 percent increase year-over-year. Shares of Digital World Acquisition Corp. — the shell company seeking to take former President Donald Trump’s social media platform public — soared more than 50 percent following the company’s announcement that it had settled fraud charges with the Securities and Exchange Commission for $18 million. Othersphere has closed over $3 million CAD in seed financing to develop its location optimization platform for sustainable commodities. The Victoria, BC-based cleantech startup is building software designed to help stakeholders figure out where it makes the most sense to build new production assets for zero- and low-emission commodities such as clean hydrogen.

S|W: The SaaS Weekly – What is Reddit CEO Steve Huffman doing?

Calgary-based Vitruvi’s team and leadership to stay on as part of deal. Share on:
Canadian construction-tech company Vitruvi Software has reached a deal to be acquired by Denver, Colorado-based alternative-asset manager Bow River Capital . Calgary’s Vitruvi provides geospatial information system (GIS)-based software for construction project management that caters to the network, power, and utility sectors. Vitruvi aims to address “structural inefficiencies built into the utility construction industry” with tech. Vitruvi founder, president, and CEO Bryan McIver told BetaKit that the transaction gives Vitruvi the capital and resources necessary to scale its product and operations, serve more customers and larger clients, and expand its sales and marketing efforts both in Canada and abroad. According to McIver, the binding agreement between Vitruvi and Bow River is currently in the process of closing. McIver declined to disclose the acquisition price, noting only that the transaction is a majority acquisition that will see key members of Vitruvi’s management team retain equity in the company. As part of the transaction, Vitruvi’s team and current management will stay on and lead Vitruvi, which will continue to operate as a standalone business with guidance from Bow River. Founded in 2016 as Fresnel Software, Vitruvi enables telecommunications and energy industry stakeholders to design, plan, and manage utility projects through a single platform, with the goal of helping them operate more efficiently, improve data visibility, and reduce costs. Bow River Capital invests in real estate, private credit, private equity, and software growth equity. The latter Bow River arm has purchased Vitruvi. This is Bow River’s software growth equity team’s eighth majority recapitalization to date. “Vitruvi Software has demonstrated exceptional platform capabilities [and] an intimate
understanding of the digitization of geospatial construction management, combined with a high growth trajectory,” Bow River managing director Steve Joanis said in a statement. Prior to launching Vitruvi, McIver managed the end-to-end delivery of utility construction projects for 15 years. After building and selling a mid-market construction company to a multinational firm and stepping in to manage its construction and engineering services division, McIver said he realized “that there were certain structural inefficiencies built into the utility construction industry that had not been adequately addressed by technology,” and set out to address them. Vitruvi focuses on “bridging the gap … between engineering and construction” and connecting all aspects of construction operations—from cost to quality to schedule—to the geospatial design elements associated with those projects. To support these efforts, to date, Vitruvi has received an undisclosed amount of funding from unnamed angel and strategic investors. With Bow River’s help, Vitruvi hopes to accelerate this work. As it looks to do that, McIver said Vitruvi will lean on Bow River’s enterprise software operations and scaling experience.

Construction software firm Vitruvi to be acquired by US-based Bow River Capital

Vitruvi is a Calgary-based geospatial-focused construction management software platform. Email address
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Bow River Capital acquires Vitruvi in majority recapitalization

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CALGARY, AB, July 19, 2023 /PRNewswire/ - Vitruvi Software, a leading provider of cutting-edge utility construction software solutions, proudly announces its acquisition by the Software Growth Equity Team of Bow River Capital, a Denver-based alternative asset manager. This strategic move is set to fuel Vitruvi Software's expansion plans and foster continued innovation in its product offerings. With a steadfast commitment to digitizing the construction industry, Vitruvi Software has built one of the industry's most powerful and capable cloud solutions for powering digital construction management in the network, power and utility sectors. This acquisition by Bow River Capital's Software Growth Equity Team presents an exciting opportunity to leverage the Team's industry and operational expertise, resources, and capital to drive even greater growth for Vitruvi Software's platform offering. "We are thrilled to join forces with Bow River Capital and embark on the next chapter of Vitruvi Software's journey," said Bryan McIver, CEO of Vitruvi Software. "This partnership will provide us with the necessary capital and resources to further enhance our software solution and solidify our position as product leader in digital construction management for geospatial projects." Bow River Capital's extensive experience in the technology sector and their history of partnering with innovative software companies make them the ideal partner for Vitruvi Software. The investment firm's strategic guidance and financial backing is designed to enable Vitruvi Software to seek to accelerate product development, pursue new market opportunities, and enhance customer experience. "Vitruvi Software has demonstrated exceptional platform capabilities, an intimate understanding of the digitization of geospatial construction management, combined with a high growth trajectory," stated Steve Joanis, Managing Director at Bow River Capital. "We are excited to collaborate with the talented team at Vitruvi Software and provide them with the necessary resources to drive their vision forward. Together, we will endeavor to unlock new avenues for growth and solidify Vitruvi Software's position as a leading software provider for utility construction." About Vitruvi™ Software
Vitruvi is an innovative utility construction management software that allows you to efficiently manage every aspect of your utility construction project. It's an end-to-end, GIS-based platform that connects all stakeholders, seamlessly, for unmatched project control and collaboration. Vitruvi's best-in-class functionality spans the entire project build: from scoping and planning to reporting and close-out, integrating design data with cost and schedule, helping organizations optimize their operations, improve efficiency, and drive growth. Discover more at www.vitruvisoftware.com. About Bow River Capital
Founded in 2003, Bow River Capital is a private alternative asset management company based in Denver, Colorado focused on investing in the lower middle market in four asset classes including software growth equity, private credit, private equity, and real estate. Through its subsidiary Bow River Advisers, LLC, Bow River Capital also offers a registered, closed-end mutual fund – Bow River Capital Evergreen Fund (EVERX) – designed to provide institutional-quality private market access to a broader set of investors. Collectively, the Bow River Capital team has deployed Capital into diverse industries, asset classes and across the capital structure. Bow River Capital Evergreen Fund is distributed by Foreside Financial Services, LLC which is not affiliated with Bow River Capital or its affiliates. SOURCE Vitruvi™ Software

Vitruvi Software Announces Acquisition by Bow River Capital, Strengthening Future Growth and Innovation

Mercury Broadband provides high-speed internet and digital phone service for residents and businesses. The company offers internet services, broadband services, local customer service, digital phone services, home internet, installation, and other related services, thereby providing clients with reliable and unlimited internet at an affordable cost. It was founded in 2007 and is based in Kansas City, Missouri.

Mercury Broadband

Mercury Broadband selects Vitruvi to drive data efficiencies and communications for the completion of its network projects .

Mercury Broadband selects Vitruvi™ Software to drive data efficiencies

Keyworks is a technology strategy and services firm. The firm offers business strategy, broadband telecommunications, IT security, project management, technology implementations, OSS/BSS, and technology ventures. It is based in Calgary, Alberta.

Keyworks

Beacon Broadband is a fiber-to-the-home broadband internet provider. It specializes in fiber internet, broadband voice, streaming television, managed Wi-Fi, and more. It was founded in 2020 and is based in Port Orford, Oregon. It is a subsidiary of Coos-Curry Electric Cooperative.

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Vitruvi is a geospatial information system (GIS) enabled, that aggregates designs, documents, timelines, and construction data to form a single source-of-truth that all project stakeholders can refer to. Being fully GIS-enabled with an emphasis on user experience, stakeholders can access real-time construction management of timelines, schedule of values, labor, and materials. The company provides solutions in telecommunications, energy and utilities, and Renewable Power. It was founded in 2016 and is based in Calgary, Canada.

Name	Work History	Title	Status
Bryan McIver	AFL, Tier2 Technologies, Ledcor Industries, Opsis, and D-Line	Chief Executive Officer, President	Current
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Name	Bryan McIver	Subscribe to see more	Subscribe to see more	Subscribe to see more
Work History	AFL, Tier2 Technologies, Ledcor Industries, Opsis, and D-Line	Subscribe to see more	Subscribe to see more	Subscribe to see more
Title	Chief Executive Officer, President	Subscribe to see more	Subscribe to see more	Subscribe to see more
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