Kahua takes Bain Capital growth investment at a valuation above $1B

Kahua, an AI enterprise construction platform for complex capital programs, said Tuesday it secured a minority growth investment from Bain Capital’s Tech Opportunities fund at a valuation above $1 billion.

Owners of big building programs still run multi-year work across tools that do not share one file. Kahua is selling one governed construction system of record with AI inside it, and Bain Capital is marking that business above $1 billion after Kahua said annualized revenue hit $100 million.

On Tuesday, 29 September 2026, Kahua said it secured a minority growth investment from Bain Capital’s Tech Opportunities at a valuation above $1 billion. A minority stake is a share that does not take control of the company. A valuation is the price this announcement puts on the whole company. Above $1 billion is the figure the release gives for that price. Kahua calls itself an AI enterprise construction platform for complex capital programs. A capital program is a multi-year plan to fund, design, build, and then run a large asset, such as a hospital, a road, or a data center. PR Newswire carried the release, datelined Alpharetta, Georgia. That page stamps it Sep 29, 2026, 10:30 ET, which is 10:30 a.m. Eastern. Kahua’s own newsroom carries the same announcement, datelined Atlanta, and prints September 29, 2026. That page does not print an hour. Those lines are Kahua’s.

What the partnership is for, as Kahua states it. It will support the next phase of growth. That includes continued investment in AI and product innovation, go-to-market, customer success, and talent. Go-to-market is how the company finds and wins customers. Customer success is the work of keeping those customers on the product. Talent is hiring and developing the people who build it. Those lines are on the release. The release does not say how many dollars Bain is putting in, or what percent of Kahua that stake is.

Kahua says it has reached $100 million in annualized revenue. Annualized revenue is the pace of a year’s sales, taken from a recent run rate. It is not a promise of next year’s cash, and it is not a completed audit. One hundred million dollars is Kahua’s figure. The release calls that milestone the point at which this next phase of growth begins. It does not print a growth rate, a prior year’s revenue, or the terms of a customer contract.

What Kahua says the product is. It describes a system of record that connects the people, processes, and data behind a capital program. A system of record is the software a company treats as the official copy of that work. The platform is configurable, so a customer can set it up for its own process, and governed, so the rules for who can see and change a record stay in place. Kahua says many organizations still run these multi-year programs across fragmented systems and disconnected processes. Fragmented, here, means the plan, the budget, and the field notes live in different tools that do not share one file. The sectors it names are federal government and defense, transportation, healthcare, and education. It also says investment is accelerating in energy, digital infrastructure, data centers, and other major assets. Those lines are Kahua’s.

Kahua says it serves more than 2,500 customers and supports more than $400 billion in capital programs on its platform. More than 2,500 is the customer count. More than $400 billion is the value of the building programs on the software, not Kahua’s own revenue. The $100 million figure is the revenue. The $400 billion figure is the programs. Kahua says that, as a connected system of record, it holds the governed data and the context an AI tool needs inside the workflows where customers plan, manage, and decide, across the life of the asset. That life runs from funding and planning through construction and long-term operation. Those lines are Kahua’s.

Scott Unger, chief executive and co-founder, said the company has spent years building the system organizations rely on to run their most complex programs, and that this investment validates that work. He said reaching $100 million in annualized revenue reflects the trust of customers and the strength of the team. He said Kahua and Bain intend to accelerate AI capabilities and product innovation, deepen the value delivered to customers, and invest in the talent the company needs to keep growing. That quotation is his, in the release.

Philip Meicler, a partner at Bain Capital Tech Opportunities, said Kahua has built the technology backbone for owners and delivery teams, connecting data across the life of an asset, from funding and planning through construction and long-term operation. An owner, here, is the organization paying for the building and living with it afterward. A delivery team is the group that designs and builds it. He said Kahua’s AI platform and its place in the category position the company as a partner owners and managers of large capital programs cannot do without. He said Bain looks forward to working with Unger and the Kahua team, and to bringing its experience scaling software businesses as Kahua expands across markets. That quotation is his, in the release.

In plain terms, Kahua said on Tuesday that Bain Capital’s Tech Opportunities took a minority growth stake, and that the deal prices the company above $1 billion, after Kahua said annualized revenue reached $100 million. The stated use is more work on AI and the product, plus selling, customer success, and hiring. The pages do not say how much cash Bain wrote, or what share of the company it bought.

The picture is Kahua’s Noa assistant on a tablet. The screen reads “Hi I’m Noa,” under a knot-style mark, and offers actions to check a project record, find a project record, learn about Kahua, and open a course map. Kahua’s AI page names Noa as the assistant inside the platform, powered by Kahua AI, working inside a customer’s own Kahua environment. It is the company’s product screen.