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- GoCanvas
GoCanvas Acquisition, Valuation, Funding & Investors
GoCanvas was acquired by Nemetschek for $770M in June 2024, a 11.5x multiple on $67M of revenue.
GoCanvas revenue at acquisition
$67M
Last twelve months · Jun 2024
GoCanvas revenue multiple at acquisition
11.5x
EV/Revenue · Jun 2024
Cumulative funding GoCanvas raised
$19M
across 4 funding rounds
About GoCanvas
GoCanvas is a Reston, Virginia-headquartered mobile forms and operations platform founded in 2008. It enables field service teams to digitize inspections, work orders, signatures, and data collection on iOS and Android devices. Acquired by Nemetschek Group in 2019, GoCanvas serves construction, oil and gas, and service industries across 70 countries with templates for compliance and dispatching. The app provides offline functionality, GPS stamping, and real-time dashboards, replacing paper processes for over 50,000 businesses worldwide.
Founded
2008
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Subscription
Revenue
$67M (Jun 2024)
Valuation
$770M (acquired Jun 2024)
GoCanvas Acquisition
GoCanvas was acquired by Nemetschek for $770M on 6 June 2024.
The acquisition price implies a 11.5x revenue multiple on $67M of revenue.
Before the acquisition GoCanvas had raised $19M across 4 funding rounds.
GoCanvas Holdings, Inc., headquartered in Reston, Virginia, provides field worker collaboration software that digitizes traditionally paper-based processes, simplifies inspections, improves safety, and maximizes compliance, serving over 300,000 active users worldwide as of Q1 2024. The Nemetschek Group, a leading global provider of software solutions for the architecture, engineering, construction/operations (AEC/O) and media industries and parent of Bluebeam, acquired all shares of GoCanvas from K1 Investment Management. The deal, announced on June 6, 2024, was valued at over $700 million, reflecting an 11.5x multiple on GoCanvas's 2023 ARR of $67 million, with financing from Nemetschek's cash resources and credit facilities. The acquisition closed on July 1, 2024, following regulatory approvals, integrating GoCanvas into Nemetschek's Build & Construct division to create a unique construction ecosystem with complementary technologies, customer bases, and regional sales splits. Strategic rationale centers on accelerating digitalization in construction, capturing field worker opportunities across AEC/O lifecycles, enhancing US market positioning for Nemetschek while expanding GoCanvas into Europe and Asia-Pacific, and driving synergies like 20% annual growth, operational leverage, and innovation in mobile data collection, analytics, and workflow automation. GoCanvas CEO Viyas Sundaram and his team joined Nemetschek post-closing, with both companies operating independently until completion. Advisors included Moelis & Company as exclusive financial advisor to GoCanvas, and legal counsel from Kirkland & Ellis, Morris, Manning & Martin for GoCanvas, underscoring the transaction's alignment with Nemetschek's subscription/SaaS transition and competitive edge in field productivity for construction and adjacent industries.
| Acquirer | Date | Type | Price | EV/Revenue |
|---|---|---|---|---|
| 6 Jun 2024 | Strategic M&A | $770M | 11.5x |
GoCanvas Funding History
GoCanvas has raised a total of $19M across 4 funding rounds.
GoCanvas' first fundraising round was a $4M Series C in June 2013. The most recent completed round was a $4M Series D in February 2016.
GoCanvas funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Feb 2016 | Series D | Zebra Ventures; RC Capital; Osage Venture Partners | $4M | GoCanvas raised $4 million in a funding round on March 5, 2016. The investors match Osage Venture Partners, RC Capital, and Zebra Ventures. This appears to be the company's only funding round, with total funding of $4 million. |
| Dec 2014 | Series D | RC Capital (lead); Camber Creek; Baltimore Angels; Osage Venture Partners | $9M | - |
| Jan 2014 | Series C | Osage Venture Partners | $2M | - |
| Jun 2013 | Series C | Camber Creek; Motorola Solutions Venture Capital; Osage Venture Partners | $4M | GoCanvas raised $4 million in a Series C funding round on approximately March 6, 2013, from investors Camber Creek, Motorola Solutions Venture Capital, and Osage Venture Partners. The company, then known as Canvas, provides business mobile apps and forms. |
Who has invested in GoCanvas?
6 investors have backed GoCanvas across its funding rounds, including Osage Venture Partners, Camber Creek, RC Capital, Motorola Solutions Venture Capital, Baltimore Angels and Zebra Ventures.
Lead investors include RC Capital.
GoCanvas Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Participant | Jun 2013 | ||
| 2 | Participant | Jun 2013 | ||
| 2 | Lead | Dec 2014 | ||
| 1 | Participant | Dec 2014 | ||
This data is available for Pro users. Sign up to see all 6 GoCanvas investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by GoCanvas
GoCanvas has acquired 1 company to date.
Last acquisition by GoCanvas was on January 1st 2022. GoCanvas acquired Device Magic for undisclosed valuation.
Latest Acquisitions by GoCanvas
| Description | Device Magic is a Raleigh-headquartered mobile forms platform that allows businesses to create digital checklists, inspections, and reports deployable on iOS and Android devices. Founded in 2011, it supports barcode scanning, GPS logging, photo capture, and offline functionality. Integrations with Salesforce and Google Sheets enable data workflows for field services, audits, and compliance tracking. |
| HQ Country | |
| HQ City | Raleigh, NC |
| Deal Date | 1 Jan 2022 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all GoCanvas acquisitions and their M&A valuation multiples. Start Free Trial | |
GoCanvas Competitors
GoCanvas competitors include listed companies like Foxit Software, Cybozu and McMillan Shakespeare, and private ones like Workboard, Wrtn Technologies and Typeform.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $159M | $13M | $770M | 3.0x | ||
| Private | - | - | $800M | - | ||
| Private | $139M | - | $693M | 5.0x | ||
| Publicly listed | $241M | $84M | $881M | 3.1x | ||
| Private | $70M | - | $935M | 13.4x | ||
| Publicly listed | $336M | $179M | $970M | 3.5x |
GoCanvas Public Comps
GoCanvas is no longer listed, but its public comps include Foxit Software, Cybozu, McMillan Shakespeare, Hancom, NeoJapan, CyberLink, Polaris Office, Wondershare, Seresco and Done.ai Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $159M | $13M | 3.4x | 3.0x | 39.8x | 19.8x | |||
| $241M | $84M | 3.4x | 3.1x | 9.8x | 9.2x | |||
| $336M | $179M | 4.5x | 3.5x | 8.4x | 11.4x | |||
| $238M | $35M | 1.3x | 1.1x | 8.8x | 6.2x | |||
| $53M | $19M | 2.0x | 2.0x | 5.6x | - | |||
| $77M | $11M | 0.7x | 0.7x | 5.1x | 5.6x | |||
| $236M | $17M | 1.3x | 3.8x | 18.2x | 34.8x | |||
| $229M | ($6M) | 6.3x | 6.4x | (231.3x) | (175.1x) | |||
This data is available for Pro users. Sign up to see all GoCanvas competitors and their valuation data. Start Free Trial | ||||||||
Common questions about GoCanvas
| When was GoCanvas founded? | GoCanvas was founded in 2008. |
| Where is GoCanvas headquartered? | GoCanvas is headquartered in Reston, VA, United States. |
| Is GoCanvas publicly listed? | No, GoCanvas was acquired by Nemetschek in June 2024. |
| Who acquired GoCanvas? | GoCanvas was acquired by Nemetschek in June 2024. |
| How much was GoCanvas acquired for? | GoCanvas was acquired for $770M in June 2024, a 11.5x revenue multiple. |
| How much funding has GoCanvas raised? | GoCanvas has raised $19M across 4 funding rounds. |
| What was GoCanvas' last funding round? | GoCanvas' last funding round was a $4M Series D in February 2016. |
| Who are GoCanvas' investors? | GoCanvas' investors include Osage Venture Partners, Camber Creek, RC Capital, Baltimore Angels, Zebra Ventures and Motorola Solutions Venture Capital. |
| Which companies are comparable to GoCanvas? | Companies comparable to GoCanvas include Foxit Software, Workboard, Wrtn Technologies, Cybozu, Typeform and McMillan Shakespeare. |
| How many companies has GoCanvas acquired? | GoCanvas has acquired 1 company, including Device Magic. |
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