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CincyTech Invests in Cloud Takeoff

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CINCINNATI, Sept. 4, 2013 (GLOBE NEWSWIRE) -- CincyTech has invested $300,000 in Cloud Takeoff, a Mason, Ohio company that offers an easy and powerful cloud-based tool for contractors in commercial construction. The investment comes from the recently closed CincyTech Fund III.

Cloud Takeoff was named one of the construction industry's "Top New Products for 2013" by Constructech Magazine. Cloud Takeoff provides construction estimating (or "takeoff,") software coupled with the ability to share digital blueprint plans and collaborate in real time. The initial target market is contractors and material suppliers who desire an easier way to estimate, share and collaborate online without having to download plans.

The CincyTech investment will allow Cloud Takeoff to accelerate product development, including solutions for all types of mobile devices. Cloud Takeoff also plans to expand product integrations with plan rooms and content providers around the globe.

Cloud Takeoff was founded by Phillip Ogilby, his wife, Jane Baysore, and his son Justin. Phil and Justin created a successful estimating software program called "Buildware Pro" in the 1990's before founding iSqFt . Initially focused on the development of takeoff and estimating software for the commercial roofing and sheet metal industry, iSqFt is now the construction industry's leading online preconstruction management service.

"When I started iSqFt.com, my goal was to make the distribution of construction documents faster and more efficient for all parties involved," said Ogilby. "With Cloud Takeoff, we are taking the digital plan and specification experience to a whole new level. The team at CincyTech has almost instantly added value as a trusted partner."

"CincyTech was attracted to an experienced management team, led by Phil Ogilby, a seasoned entrepreneur," said CincyTech entrepreneur-in-residence Douglas Groh. "Moreover, Cloud Takeoff has already developed a basic version of the product that is gaining traction in the marketplace. The investment and support provided by CincyTech will enable Cloud Takeoff to more quickly build features and functions that greatly enhance the user experience. This, in turn, will accelerate customer adoption."

About CincyTech

CincyTech is a public-private venture development organization that invests in high-tech startups in Southwest Ohio. With support from the Ohio Third Frontier and corporations, foundations and individuals, it is stimulating the growth of venture-worthy companies in IT and bioscience.

CONTACT: Peg Rusconi, communications director, CincyTech 513-263-2728, pegrusconi@cincytechusa.com Phillip Ogilby, CEO Cloud Takeoff 513.253.0053

Source: CincyTech