Bain Capital Values Construction Software Maker Kahua Above $1 Billion

Bain Capital has taken a minority stake in Kahua, an AI-driven enterprise construction platform, at a valuation above $1 billion. The deal, announced Sept. 29 from the company's Alpharetta, Georgia headquarters, comes on the heels of Kahua crossing $100 million in annualized revenue.

The investment came through Bain Capital's Tech Opportunities fund. Kahua said the capital will fund AI and product development, go-to-market expansion, customer success operations and talent development.

"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. It reflects the trust of our customers and the strength of our team."

Unger added that the company intends to use the partnership to accelerate its AI capabilities and deepen customer value: "We're excited to partner with Bain Capital, which understands what it takes to help innovative software businesses scale. Together, we intend to accelerate our AI capabilities and product innovation, deepen the value we deliver to customers, and invest in the talent needed for Kahua's continued growth."

A Platform Built for Complexity

Kahua targets a specific pain point in the construction and infrastructure sector: capital programs in highly regulated, mission-critical environments — federal government and defense, transportation, healthcare and education — keep getting bigger and more complex. Investment is accelerating in energy, digital infrastructure, data centers and other major asset sectors. Yet many organizations still run these multi-year programs on fragmented systems and disconnected processes.

Kahua's answer is a single configurable, governed platform that connects the people, processes and data behind a capital program. The scale is substantial. More than 2,500 customers across a diverse range of industries use the platform, which currently supports more than $400 billion in capital programs.

That scale matters for the AI angle. As a connected system of record, Kahua holds the governed data and context that make AI useful within the workflows where customers plan, manage and make decisions across the asset lifecycle. The company argues this data foundation — not just model capability — is what separates useful enterprise AI from hype.

Bain's Perspective

Philip Meicler, a partner at Bain Capital Tech Opportunities, framed the investment around Kahua's position across the full asset lifecycle, from funding and planning through construction and long-term operation.

"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," Meicler said. "Kahua's differentiated AI platform and leadership in this category positions it as indispensable partner to owners and managers of robust capital programs."

Meicler signaled that Bain's contribution will extend beyond capital: "We look forward to partnering with Scott and the Kahua team and bringing our experience scaling technology businesses as the company expands across markets."

Bain Capital, founded in 1984, manages approximately $225 billion in assets across five focus areas — Private Equity, Growth & Venture, Capital Solutions, Credit and Real Assets — with 24 offices on four continents and more than 2,000 employees.

The Stakes

The billion-dollar valuation marks a milestone for a company operating in a segment of construction technology that focuses on program owners rather than contractors. As capital spending surges into data centers, energy infrastructure and other large asset classes, the software layer that governs how those programs are planned and executed becomes more valuable — and more contested.

For Kahua, the immediate task is converting Bain's capital and operational expertise into market expansion while defending its position as incumbents and startups alike race to embed AI into construction workflows.