DraftingSPACE announced Wednesday that it has been acquired by Vancouver-based BuildDirect, an online platform for home improvement.
BuildDirect made the purchase for an undisclosed amount.
For the University of Waterloo Velocity company, which helps homeowners design rooms with its software, the acquisition means setting up a new BuildDirect Waterloo office.
“We’ll be heading up the design centre team,” said Beth Nenniger, CEO and co-founder of DraftingSPACE. “We get to continue to do what we love to do, which is automating the home design space and making it possible for every homeowner to be their own designer.”
It was during Communitech’s Techtoberfest event last year that Sid Paquette, Director at OMERS Ventures, introduced Nenniger to BuildDirect.
“In a really short period of time, after seeing our demo Jeff [Booth, President and CEO of BuildDirect] said, ‘This is awesome and we want you to be part of our company’.”
Nenniger and co-founder Laura Austin are excited to be part of a Canadian company that “is still small enough and running super fast – just like a startup.”
The new design centre will house a 10-person team within the year, according to Nenniger, who is looking for new space for the centre. DraftingSPACE is currently housed in the Velocity Garage in the Tannery in downtown Kitchener.
“For every step of the process that you need to go through to get a renovation done, we’ll be there to help you, and this new partnership will enable us to do more with that,” she said.
