MSUITE, a Cedar Rapids-based construction tech startup, announced this week that it has been acquired by Stanley Black & Decker.
Founded in 2015, MSUITE was created to make tracking, managing, and sharing construction data easier and more accurate. The company has created a cloud-based suite of management software tools that connects construction teams, allowing them to receive real-time status updates, and valuable tracking and estimating information.
Stanley Black & Decker is the world’s largest tool company operating nearly 50 facilities across America and more than 100 worldwide.
“The acquisition reflects the growing strategic importance of MSUITE’s software solutions in the construction technology space,” wrote MSUITE in a release announcing the acquisition. “Together, Stanley Black & Decker and MSUITE’s growing team and customer base of 200+ companies across North America will now have expanded capabilities, broadened talent depth and technology to reinvent the industry.”
Stanley Black & Decker and MSUITE have worked together closely since 2020 when MSUITE raised a $4 million seed round from Next Level Ventures and Stanley Ventures, Stanley Black & Decker‘s corporate venture arm.
Britton Langdon, the Founder & Chief Executive Officer of the company, will continue to lead the MSUITE team as Vice President of Construction Technology for Stanley Black & Decker
Terms of the acquisition were not disclosed.
Construction tech startup MSUITE completes $4 million seed funding round