BuildPoint Passes Major Milestone: Enables 50,000 Users and Facilitates the Bidding of 1.6 Million Construction Projects.Business Editors REDWOOD SHORES, Calif.--(BUSINESS WIRE)--Jan. 29, 2002 BuildPoint Expands Seasoned Management Team with Two Significant Appointments BuildPoint Corporation, the leader in bid and risk management for the construction industry, today announced that it has reached a major milestone in enabling over 50,000 users and powering nearly 1.6 million construction bids -- effectively transforming the way bids are solicited, evaluated and awarded in the construction industry. It is also testament to the fact that BuildPoint is enjoying widespread adoption by the $3.3 trillion architecture, engineering and construction (AEC AEC US Atomic Energy Commission Noun 1. AEC - a former executive agency (from 1946 to 1974) that was responsible for research into atomic energy and its peacetime uses in the United States Atomic Energy Commission ) industry. "We are very pleased with the commitment of our users in driving the adoption of the BuildPoint solution throughout the construction industry," said Mike Kaul, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. at BuildPoint. "Our customers recognize that streamlining business processes through technology is critical to their success. It is exciting to see our hard work paying off." BuildPoint Expands Seasoned Management Team Today, BuildPoint also announced the management appointment of Mike Krueger as vice president for North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. sales and the promotion of Henry Purdy from director of product management to vice president of product management. "These are significant appointments for BuildPoint," said Mike Kaul, CEO. "Mike brings ten years of enterprise software sales experience, plus proven leadership and success in taking new products to market. And Henry, an original member of the BuildPoint product team, has been critical in developing product strategy and ensuring timely implementation for our company. BuildPoint will benefit greatly from the expertise and leadership of these individuals as we continue to lead the construction industry for online bidding and grow as an enterprise solution for the construction industry." About Mike Krueger, VP, North American Sales Mr. Krueger's 15-year career in the software industry includes key sales management Sales Management Role and Goal Importance of sales management is critical for any commercial organization. Expanding business in not possible without increasing sales volumes, and effective sales management goal is to organize sales team work in such a manner that ensures a positions with several well-known and highly successful companies. Krueger brings to BuildPoint a broad range of experience in managing direct and indirect sales channels, sales development and strategic partner relationships. Prior to joining BuildPoint, Krueger sold the first five reference accounts and built the first sales team for MS2, an enterprise application start-up. Prior to joining MS2 he was vice president of sales and marketing for Zanza, Inc. where he was involved in marketing and selling their enterprise relationship management solution to Fortune 1000 companies. Prior to Zanza, Krueger spent 3 years at Pure Atria Atria The heart has four chambers. The right and left atria are at the top of the heart and receive returning blood from the veins. The right and left ventricles are at the bottom of the heart and act as the body's main pumps. where he was responsible for North American sales. During his tenure at Pure Atria, annual revenues rose from $8M to over $100M, and headcount rose to more than 700 employees. There, he assisted in orchestrating several acquisitions and taking the company public in 1995. Mr. Krueger also built and managed the Western Region sales organization for Powersoft Corporation (company) Powersoft Corporation - A leading vendor of client/server application development tools. In February 1994, Watcom became a wholly-owned subsidiary of Powersoft Corporation which merged with Sybase on 13 February 1995. . He spent the early part of his career in sales and management positions with several start-ups. Kruegar earned a bachelor of science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies degree in computer science from Arizona State University Arizona State University, at Tempe; coeducational; opened 1886 as a normal school, became 1925 Tempe State Teachers College, renamed 1945 Arizona State College at Tempe. Its present name was adopted in 1958. . About Henry Purdy, VP, Product Management Mr. Purdy has over 10 years of both national and international engineering and construction management experience. As an original member of the product team, he has played a critical role in shaping BuildPoint product strategy and ensuring timely implementation. Prior to joining BuildPoint, Purdy was a project manager at Rutherford Rutherford (rŭth`ərfərd), borough (1990 pop. 17,790), Bergen co., NE N.J., a residential suburb of the New York City–N New Jersey metropolitan area; inc. 1881. Several pre-Revolutionary houses remain there. & Chekene, a leading structural engineering firm. While at Rutherford & Chekene, he led several major firm projects in evaluation, design, estimation estimation In mathematics, use of a function or formula to derive a solution or make a prediction. Unlike approximation, it has precise connotations. In statistics, for example, it connotes the careful selection and testing of a function called an estimator. and construction administration, conducted firm marketing and business development, and developed company-wide computing computing - computer standards. Early in his career, Purdy was a design engineer at Black & Veatch. Purdy obtained his bachelor of science degree at Duke University with a major in civil and environmental engineering; he also has a master of science degree in structural engineering from Stanford University Stanford University, at Stanford, Calif.; coeducational; chartered 1885, opened 1891 as Leland Stanford Junior Univ. (still the legal name). The original campus was designed by Frederick Law Olmsted. David Starr Jordan was its first president. where he participated in research and development of construction technology at the Center for Integrated Facility Engineering. He holds a structural engineering license. BuildPoint Progress Over the Past Year BuildPoint's rapid adoption over the past year can be attributed to the following important milestones: -- To date, BuildPoint has more than 50,000 users enabled on the BuildPoint solution; -- To date, the BuildPoint solution has powered the bidding for nearly 1.6 million projects; -- BuildPoint has invested heavily in account management and technical staff to develop and implement solutions requested by the company's ENR 400 design panel; -- Last year, BuildPoint brought in Mike Kaul as chief executive officer and Raj Matthew as chief financial officer furthering BuildPoint's strategy to expand its technology and service offerings to deliver a comprehensive enterprise-level solution for the construction industry; -- Last August, BuildPoint launched SubQual, the construction industry's first universal subcontractor qualification tool; -- Last March, BuildPoint completed its Series C round of funding - new entities, as well as previous investors, participated, generating $28 million in funding; and, -- BuildPoint has ramped up to 40+ full-time employees (60% tech; 30% sales, account management and marketing; and 10% G&A). About BuildPoint Corporation BuildPoint is the leader in bid and risk management for the construction industry. The company's provider relationship management (PRM PRM Partner Relationship Management PRM Parameter PRM Bureau of Population, Refugees and Migration (US State Department) PRM Partidul Romania Mare (Romania Mare Party) PRM Professional Risk Manager ) solution enables general contractors A general contractor is an organization or individual that contracts with another organization or individual (the owner) for the construction of a building, road or any other execution of work or facility. to cut cost and reduce risk by streamlining and integrating the bidding and qualifying functions. BuildPoint is a private company whose investors include J. P. Morgan Chase Partners, RMC RMC Royal Military College RMC Radio Monte Carlo RMC Randolph-Macon College (Ashland, Virginia) RMC Regional Medical Center RMC Robert Morris College (Illinois) RMC Rocky Mountain College Group, SAP Ventures, NorthStar, Techfund Capital, Thomas Weisel Partners Thomas Weisel Partners Group, Inc. (NASDAQ: TWPG), often shortened to just TWP or TWeisel, is a U.S. middle-market and growth focused investment banking firm based in San Francisco, California. , Vortex Partners and construction.com, part of The McGraw-Hill Companies. The company is headquartered in Redwood Shores, Calif. For more information, visit www.buildpoint.com or email info@buildpoint.com. Note to Editors: BuildPoint and all other trademarks mentioned in this document are the property of their respective owners. |
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