REDWOOD SHORES, Calif. (BUSINESS WIRE)- BuildPoint Corporation, a provider of bid and risk management for the construction industry, today announced that it has reached a major milestone in enabling over 50,000 users and powering nearly 1.6 million construction bids -- effectively transforming the way bids are solicited, evaluated and awarded in the construction industry. BuildPoint is enjoying widespread adoption by the $3.3 trillion architecture, engineering and construction (AEC) industry. ''We are very pleased with the commitment of our users in driving the adoption of the BuildPoint solution throughout the construction industry,'' said Mike Kaul, CEO at BuildPoint. ''Our customers recognize that streamlining business processes through technology is critical to their success. It is exciting to see our hard work paying off.''

BuildPoint Expands Seasoned Management Team

Today, BuildPoint also announced the management appointment of Mike Krueger as vice president for North American sales and the promotion of Henry Purdy from director of product management to vice president of product management.

''These are significant appointments for BuildPoint,'' said Mike Kaul, CEO. ''Mike brings ten years of enterprise software sales experience, plus proven leadership and success in taking new products to market. And Henry, an original member of the BuildPoint product team, has been critical in developing product strategy and ensuring timely implementation for our company. BuildPoint will benefit greatly from the expertise and leadership of these individuals as we continue to lead the construction industry for online bidding and grow as an enterprise solution for the construction industry.''

About Mike Krueger, VP, North American Sales

Mr. Krueger's 15-year career in the software industry includes key sales management positions with several well-known and highly successful companies. Krueger brings to BuildPoint a broad range of experience in managing direct and indirect sales channels, sales development and strategic partner relationships.

Prior to joining BuildPoint, Krueger sold the first five reference accounts and built the first sales team for MS2, an enterprise application start-up. Prior to joining MS2 he was vice president of sales and marketing for Zanza, Inc. where he was involved in marketing and selling their enterprise relationship management solution to Fortune 1000 companies. Prior to Zanza, Krueger spent 3 years at Pure Atria where he was responsible for North American sales. During his tenure at Pure Atria, annual revenues rose from $8M to over $100M, and headcount rose to more than 700 employees. There, he assisted in orchestrating several acquisitions and taking the company public in 1995. Mr. Krueger also built and managed the Western Region sales organization for Powersoft Corporation. He spent the early part of his career in sales and management positions with several start-ups.

Kruegar earned a bachelor of science degree in computer science from Arizona State University.

About Henry Purdy, VP, Product Management

Mr. Purdy has over 10 years of both national and international engineering and construction management experience. As an original member of the product team, he has played a critical role in shaping BuildPoint product strategy and ensuring timely implementation.

Prior to joining BuildPoint, Purdy was a project manager at Rutherford & Chekene, a leading structural engineering firm. While at Rutherford & Chekene, he led several major firm projects in evaluation, design, estimation and construction administration, conducted firm marketing and business development, and developed company-wide computing standards. Early in his career, Purdy was a design engineer at Black & Veatch.

Purdy obtained his bachelor of science degree at Duke University with a major in civil and environmental engineering; he also has a master of science degree in structural engineering from Stanford University where he participated in research and development of construction technology at the Center for Integrated Facility Engineering. He holds a structural engineering license.

BuildPoint Progress Over the Past Year

BuildPoint's rapid adoption over the past year can be attributed to the following important milestones:

To date, BuildPoint has more than 50,000 users enabled on the BuildPoint solution;

To date, the BuildPoint solution has powered the bidding for nearly 1.6 million projects;

BuildPoint has invested heavily in account management and technical staff to develop and

implement solutions requested by the company's ENR 400 design panel;

Last year, BuildPoint brought in Mike Kaul as chief executive officer and Raj Matthew as

chief financial officer furthering BuildPoint's strategy to expand its technology and service

offerings to deliver a comprehensive enterprise-level solution for the construction industry;

Last August, BuildPoint launched SubQual, the construction industry's first universal

subcontractor qualification tool;

Last March, BuildPoint completed its Series C round of funding - new entities, as well as

previous investors, participated, generating $28 million in funding; and,

BuildPoint has ramped up to 40+ full-time employees (60% tech; 30% sales, account

management and marketing; and 10% G&A).

About BuildPoint Corporation

BuildPoint is the leader in bid and risk management for the construction industry. The company's provider relationship management (PRM) solution enables general contractors to cut cost and reduce risk by streamlining and integrating the bidding and qualifying functions. BuildPoint is a private company whose investors include J. P. Morgan Chase Partners, RMC Group, SAP Ventures, NorthStar, Techfund Capital, Thomas Weisel Partners, Vortex Partners and, part of The McGraw-Hill Companies. The company is headquartered in Redwood Shores, Calif.