Ottawa-based Mydoma, which provides a project management platform for interior designers, has been acquired by California-based competitor Studio Designer for an undisclosed amount.
BetaKit has reached out to Studio Designer and Mydoma but did not hear back by publication time.
Studio Designer says its platform is used by over 15,000 designers, including large industry firms such as Ken Fulk, Pembrooke & Ives, and Nate Berkus. By acquiring Mydoma, Studio Designer said the two companies will support nearly 20,000 interior designers across the United States and Canada.
“As a former interior designer, I was inspired to create Mydoma to solve the challenges that I experienced firsthand running my own firm,” Mydoma founder and CEO Sarah Daniele said in a statement. “Over the last ten years, we are proud to have built an industry-leading product used by thousands of designers across the US and Canada”
Founded in 2014, Mydoma’s project management software allows interior designers to create and track project tasks, budgets, and contracts. The platform also provides a client portal for customers to view the details of their projects and a visualizer for designers to test out their vision in a virtual 3D space.
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Mydoma previously raised a $275,000 seed round from The Capital Angel Network, the Wesley Clover Foundation, and two private investors in 2016, according to the Ottawa Business Journal.
Daniele told Business of Home that Mydoma was at a point where it either needed an outside partner or additional financing round when Studio Designer approached to discuss a potential deal.
Studio Designer CEO Keith Granet told Business of Home that he saw the deal as a way to reach early-career designers, saying that Mydoma’s offerings are easier for one-person firms to adopt, while Studio Designer comes with additional tools for larger teams. While the two platforms are currently remaining separate, Mydoma’s backend systems and customer-facing teams are being integrated with Studio Designer, Business of Home also reported.
There has been a lot of activity around Canadian project management software companies this year, with Calgary-based SumoQuote being acquired by a Utah-based roofing software company in February. Meanwhile, Vancouver-based Ontraccr and Calgary-based PayShepherd both secured seed rounds in early March.
Feature image courtesy Scott Graham via Unsplash.
