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CINCINNATI-Construction Software Technologies Inc. has received a $5.5-million equity investment from a group of investors led by River Cities CapitalFunds. Construction Software Technologies provides online construction information for general contractors serving the commercial and industrial construction markets.

The company electronically hosts all project information including plans and specifications for online planning, bidding and the post-bid process for both public andprivate construction projects. Construction Software currently provides public plan room information in 17 states in conjunction with local chapters of the Associated General Contractors of America.

Construction Software Technologies, whose products are known in the market by the name “iSqFt,” will use the investment proceeds to enhance its national salesand marketing program; selling direct to general contractors and subcontractors through its strategic partnership with the Associated General Contractors of America.

The construction industry spends more than $500 million per year in Fedex and courier charges, and more than $1 billion per year in reprographic expenses to produce and distribute information to subcontractors to bid on projects, says Dan Fleming, a principal with River Cities Capital Funds. The “iSqFt” solution reduces these expenditures and increases efficiency, Fleming adds.

River Cities led Construction Software Technologies’ first institutional investment syndicate by investing $2 million, and Chrysalis Ventures, a Louisville-based venture capital firm, co-led with a $1.5 million investment. Messer Construction, a Cincinnati based regional general contractor, also invested.

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