Bain Capital Takes Minority Stake in Kahua at $1B-Plus Valuation

Kahua has secured a minority growth investment from Bain Capital Tech Opportunities at a valuation above $1B, the company announced on September 29, 2026. The investment amount, security type, ownership percentage, board rights and exact valuation were not disclosed, leaving the closing mechanics unknown.

The Alpharetta, Georgia company, founded in 2009, builds a configurable system of record for complex capital programs. Owners and delivery teams use it to connect planning, funding, cost, risk, construction workflows, reporting and asset handover across projects that can span organizations and years.

What the announcement does disclose is commercial scale. Kahua says it has reached $100M in annualized revenue, serves more than 2,500 customers through a network of 500-plus certified partners, and has 70,000-plus projects and more than $400B in capital programs managed on its platform. Those figures are company-reported rather than audited public-company results, but they help explain why Bain's tech opportunities team is entering now.

Co-founders Scott Unger, the chief executive, and Brian Moore, the president, came into Kahua with a previous construction-software exit: they built Constructware, an early internet-based project-controls platform that Autodesk acquired in 2006. Kahua's premise since 2009 has been that traditional enterprise software asks customers to reshape work around defaults, while capital programs — with their mix of agencies, owners, contractors, funding sources, asset classes and regulatory regimes — resist that simplicity.

Kahua says the new capital will support continued AI and product innovation, go-to-market expansion, customer success and talent development. That combination matters because enterprise construction software is implemented through more than a product release; customers need configuration, integration, security review, data migration, partner capacity and training before the platform becomes part of how a capital program operates.

The company applies AI across several product layers. Noa helps authorized users retrieve information, work with project records, draft content and reduce repetitive tasks inside Kahua's governed environment. kBuilder Canvas lets customers and partners design applications and workflows through natural language or a visual builder, while kCapture connects 360-degree field imagery to the project record. Kahua says its platform is FedRAMP and GovRAMP authorized, ISO 27001 certified and SOC 2 compliant, and in June 2026 it said it received federal approval to enable AI inside its FedRAMP-certified platform boundary.

Kahua frames its advantage as governed context rather than a single AI feature. A capital-program answer is valuable only when it respects the permissions, source records and workflow state behind it, the company argues.