Bain Capital Buys Into Kahua at $1 Billion-Plus Valuation

Kahua has secured a minority growth investment from Bain Capital's Tech Opportunities business at a valuation above $1 billion, the construction technology company announced. The deal size was not disclosed.

The funding arrives as Kahua reaches $100 million in annualized revenue. The company serves more than 2,500 customers and supports more than $400 billion in capital programs through its platform.

"We've spent years building Kahua into the system organizations rely on to run their most complex programs, and this investment validates that work," said Scott Unger, CEO and co-founder of Kahua. "Reaching $100 million in annualized revenue is a milestone of which we are incredibly proud."

Unger said the partnership with Bain Capital will allow Kahua to increase investment in AI and product development while expanding the resources supporting its customers and workforce.

Where will the money go?

Kahua, which provides an AI-powered enterprise construction platform for complex capital programs, plans to use the investment to accelerate product development and AI initiatives. It also intends to expand its go-to-market organization, customer success capabilities and talent development efforts.

The company targets organizations managing large, multiyear capital programs across sectors including:

• Federal government and defense
• Transportation
• Healthcare
• Education

Kahua also sees growing demand tied to investment in energy, digital infrastructure and data centers.

Why does the data layer matter?

Kahua's platform connects project participants, workflows and data within a single governed environment. It gives owners and project delivery teams information across the asset lifecycle, from funding and planning through construction and ongoing operations.

The company positions that underlying data infrastructure as a foundation for deploying AI within capital program workflows. Rather than operating AI tools separately from project information, Kahua aims to provide the governed data and context required to incorporate AI into planning, management and decision-making processes.

"Kahua has built the technology backbone for owners and delivery teams, connecting critical data across the full asset lifecycle—from funding and planning through construction and long-term operation," said Philip Meicler, partner at Bain Capital Tech Opportunities.

Meicler said Bain Capital plans to work with Kahua's management team as the company expands its platform and enters additional markets.

What problem does Kahua solve?

Large infrastructure and construction programs are becoming increasingly complex, particularly in regulated and mission-critical environments. Such projects can involve numerous stakeholders, long development timelines and project information scattered across multiple software systems and business processes.

Kahua addresses that fragmentation by operating as a configurable system of record that connects stakeholders and provides portfolio-level visibility across capital programs. The platform offers purpose-built applications for individual industries while allowing customers to configure workflows around their existing operating processes.

The growth strategy now includes further integrating AI into that environment while continuing to develop core construction and capital program management capabilities.

Who is the investor?

Bain Capital Tech Opportunities invests in growing technology businesses and will bring its experience scaling software companies to the partnership.

Bain Capital, founded in 1984, operates across private equity, growth and venture investing, capital solutions, credit and real assets. The firm has approximately $225 billion in assets under management and operates from 24 offices across four continents.

With Bain Capital as a minority investor, Kahua plans to continue expanding across its existing markets while investing in AI, product innovation and the teams supporting its growing customer base.