STRONGSVILLE, OH – August 17, 2020 – Foundation Software, a local company best known as the provider of America’s #1 construction accounting software and a construction-specific payroll service, recently announced the acquisition of the company by Thoma Bravo, a firm recognized for their expertise in growing technology companies.
Since its founding by CEO Fred Ode, Foundation Software has been a Northeast Ohio Cinderella story, starting with Ode as the sole employee in 1985 to over 350 employees today with offices in four states and over 6,000 clients nationwide. The company is recognized both locally and nationally with awards for growth, product development and employee satisfaction.
For the last 35 years, Foundation Software has been proudly family-owned, and following the transaction, Ode will continue to maintain a minority ownership in the company. “Overall, I am excited about what lies ahead for all of us, but I would be lying to say this is easy for me. I will dearly miss the excitement, challenge and drama of building a business. Literally half of my life has been with the company—not a day goes by where I do not think about it. I always lived for the journey and never the end. I wish I could hang around to play it out another 35 years. But like all good things, there is an ending and it is time for me to move on to that proverbial next phase of life.”
The company, which started out as a developer of a single product—accounting software for construction—has grown over the years into providing multiple services and products, all aimed at the construction industry. “From our payroll automation offering, Payroll4Constrution.com, to our mobile apps and now our new project management software, ProjectHQ, each tool was created with the same drive to help contractors run the business side of their business. We built Foundation Software into a dominant force in the construction back office software space through a dedication to continuous improvement and a commitment to excellence,” says Ode, “and we will remain laser-focused on this mission.”
As for the rest of the company, they will continue to maintain their headquarters in the community that helped raise them—on Royalton Road in Strongsville, OH—under the leadership of new CEO and president, Mike Ode.
About Foundation Software
Foundation Software is a national software developer that, for the past 35 years, has provided contractors with America’s #1 construction accounting software®: FOUNDATION®. In addition to their core job cost accounting product, Foundation also offers project management and mobile tools to help contractors run the business side of construction. Payroll4Construction.com compliments the organization’s software offerings by delivering a payroll processing and reporting service exclusive to the construction industry. The company has been recognized locally and nationally for its innovative products, corporate growth, and as a top workplace. For more information, call (800) 246-0800 or email email@example.com.