ToolWatch, a leading provider of construction operations solutions connecting the field, warehouse, and back office, announced the acquisition of busybusy, developer of the popular time-tracking software for construction and other remote industries. The move solidifies ToolWatch as the construction industry’s most comprehensive operations platform and will enable customers to drive lean initiatives by obtaining an accurate, timely snapshot of critical cost drivers like labor, equipment, tools, and consumables.
“At ToolWatch, our mission is to create powerful tools that help contractors better understand and navigate an increasingly complex business landscape,” commented Jay Martin, ToolWatch CEO. “busybusy’s record of innovation in time tracking for field-based workers is an ideal complement to the ToolWatch suite of construction operations solutions. ToolWatch continues to aggressively build out its platform capabilities, most recently adding an integrated EHS module. Workforce management is the logical next step, since bringing these capabilities together creates safer, more efficient job sites.”
Founded in 2010, busybusy’s GPS time tracking and jobsite monitoring software has tracked nearly 58 million timecard hours at thousands of construction companies in more than 30 countries. The company’s technology empowers field employees to track labor, materials, and heavy equipment from an easy-to-use mobile app that gives management real-time insights into field crew productivity plus accurate data for improved job costing and estimating, faster payroll processing, and better decision-making. Considered a job site essential for its reliability and ease of use, busybusy’s user-friendly app is simple to implement in the field and to integrate with leading accounting, estimating, payroll, and project management software including Procore, Quickbooks, and Sage.
“busybusy was founded to bring order to the inherently chaotic construction environment and to make projects run more smoothly by quickly delivering information to the people that need it,” said busybusy CEO Isaac Barlow. “Combining with ToolWatch will give us the resources and support necessary to expand our product offering to cover critical capital and expense items, thereby boosting the value of our job cost and billing capabilities.”
Market leaders in their respective spaces, ToolWatch and busybusy share a customer base and a mission to increase contractors’ productivity and efficiency. Customers look to both entities to streamline workflows and provide data that improves visibility into operations. The combined organization is well-positioned to drive innovation and deliver an enhanced customer experience through the exchange of intellectual property.
The acquisition will add workforce management to the ToolWatch platform’s existing construction operations and EHS capabilities while bringing ToolWatch’s workplace safety and construction operations expertise to busybusy. ToolWatch job costing and billing workflows will ultimately expand to include labor costs, equipment status, tool usage, and consumable replenishment, relieving accounting teams of manually collecting and calculating this data.
ToolWatch and busybusy customers can continue to expect the high levels of uninterrupted customer support. As part of the transition, busybusy employees will join the ToolWatch organization, with Jay Martin serving as CEO of the combined entity.
The Riverside Company, a global growth-oriented private equity firm, is the majority investor in ToolWatch and provided additional capital to fund this strategic combination.
To view the original press release, please click here.
