Vitruvi Software Announces Acquisition by Bow River Capital, Strengthening Future Growth and Innovation

CALGARY, AB, July 19, 2023 /PRNewswire/ - Vitruvi Software, a leading provider of cutting-edge utility construction software solutions, proudly announces its acquisition by the Software Growth Equity Team of Bow River Capital, a Denver-based alternative asset manager. This strategic move is set to fuel Vitruvi Software's expansion plans and foster continued innovation in its product offerings.

With a steadfast commitment to digitizing the construction industry, Vitruvi Software has built one of the industry's most powerful and capable cloud solutions for powering digital construction management in the network, power and utility sectors. This acquisition by Bow River Capital's Software Growth Equity Team presents an exciting opportunity to leverage the Team's industry and operational expertise, resources, and capital to drive even greater growth for Vitruvi Software's platform offering.

"We are thrilled to join forces with Bow River Capital and embark on the next chapter of Vitruvi Software's journey," said Bryan McIver, CEO of Vitruvi Software. "This partnership will provide us with the necessary capital and resources to further enhance our software solution and solidify our position as product leader in digital construction management for geospatial projects."

Bow River Capital's extensive experience in the technology sector and their history of partnering with innovative software companies make them the ideal partner for Vitruvi Software. The investment firm's strategic guidance and financial backing is designed to enable Vitruvi Software to seek to accelerate product development, pursue new market opportunities, and enhance customer experience.

"Vitruvi Software has demonstrated exceptional platform capabilities, an intimate understanding of the digitization of geospatial construction management, combined with a high growth trajectory," stated Steve Joanis, Managing Director at Bow River Capital. "We are excited to collaborate with the talented team at Vitruvi Software and provide them with the necessary resources to drive their vision forward. Together, we will endeavor to unlock new avenues for growth and solidify Vitruvi Software's position as a leading software provider for utility construction."

Vitruvi is an innovative utility construction management software that allows you to efficiently manage every aspect of your utility construction project. It's an end-to-end, GIS-based platform that connects all stakeholders, seamlessly, for unmatched project control and collaboration. Vitruvi's best-in-class functionality spans the entire project build: from scoping and planning to reporting and close-out, integrating design data with cost and schedule, helping organizations optimize their operations, improve efficiency, and drive growth. Discover more at www.vitruvisoftware.com.

Founded in 2003, Bow River Capital is a private alternative asset management company based in Denver, Colorado focused on investing in the lower middle market in four asset classes including software growth equity, private credit, private equity, and real estate. Through its subsidiary Bow River Advisers, LLC, Bow River Capital also offers a registered, closed-end mutual fund – Bow River Capital Evergreen Fund (EVERX) – designed to provide institutional-quality private market access to a broader set of investors. Collectively, the Bow River Capital team has deployed Capital into diverse industries, asset classes and across the capital structure.

Bow River Capital Evergreen Fund is distributed by Foreside Financial Services, LLC which is not affiliated with Bow River Capital or its affiliates.

SOURCE Vitruvi™ Software

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