Cosential is a CRM market leader and proposal automation software for Architecture, Engineering and Construction (AEC) firms, that recently closed a deal of a $34 million strategic growth investment from JMI Equity, a growth equity firm focused on investing in leading software companies. The funding will be used to accelerate market development, expand corporate infrastructure and continue fueling the company’s rapid pace of product innovation. Dan Cornish, CEO of the company Cosential, spoke with AECCafe recently about Cosential and its role in the AEC industry.
Cornish began Cosential in 1999, as a way to help large AEC firms win large projects. What he realized was that a crucial problem people had was pulling data together.
How did you start out building Cosential?
I started building online systems early on and then started building Cosential and over the years I sort of bootstrapped it from there to get to this point today, where we have the biggest market share for CRM in the AEC industry. So many people want so much from our tool, it made sense for me to bring on a financial partner who would help me grow and realize the financial vision I’ve had all these years, because I want to help customers have better businesses. It’s such an old-fashioned industry and people have been managing with spreadsheets. The tools that are out there are either very old, not industry specific or they require an enormous amount of customization that they never get quite right and so we build a purpose-built tool for this industry and it solves a lot of problems.