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Caterpillar Ventures invests in busybusy


March 3, 2017
By Caterpillar Inc.

March 3, 2017 – Caterpillar Venture Capital Inc., a wholly owned subsidiary of Caterpillar Inc., recently announced a strategic investment in busybusy, a software development firm that helps customers optimize operations, specifically addressing real-time tracking of jobsite labor costs. 

The unique software application developed by busybusy helps drive efficiencies and productivity on customers’ jobsites. 

“While we will continue to focus on driving productivity gains from equipment on the jobsite through our technology and services, we know this accounts for only a fraction of the costs our customers are managing,” said Caterpillar’s Construction Digital & Technology manager John Carpenter. “By leveraging the software developed by busybusy, we can now be able to offer labor management services for our customers, which we know is one of their most significant variable expenses on the jobsite. This investment is a natural extension of the work we are doing to offer customers a suite of digital offerings to help them be more successful.” 

busybusy’s technology will be offered to construction customers as a subscription based service, adding to the suite of offerings within Cat Connect. 

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“Our mobile app automates labor and cost management with the contractor in mind. The real-time information we provide helps construction companies become more efficient, productive and profitable,” said Isaac Barlow, busybusy CEO. “The investment by Caterpillar Ventures will assist in the rapid improvement and expansion of our offerings.” 

Cat Connect Technologies and Services include hardware and software designed to improve customer operations, including Cat and non-Cat assets, as well as help customers leverage data generated by their assets to boost business results and strengthen their competitive advantage. 

About Caterpillar Ventures 
Caterpillar Venture Capital Inc. (Caterpillar Ventures) assists entrepreneurs around the world to grow and scale their businesses to build today for a better tomorrow by leveraging Caterpillar’s industry expertise, supply base and independent dealer network. Caterpillar Ventures’ focus areas of investment include robotics, energy, advanced materials, and digital solutions that help our customers be successful. Caterpillar Ventures is a wholly owned subsidiary of Caterpillar Inc., the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For more information, visit caterpillar.com/ventures. 

About busybusy
busybusy automates the process of collecting time cards, photo documentation and tracking labor costs by jobsite. The company’s mission is to provide businesses accurate information on jobsite costs so they can make profitable decisions. busybusy is based in Saint George, Utah and is a leader in software solutions for the construction industry. For more information, visit www.busybusy.com

Forward-looking statements 
Certain statements in this press release relate to future events and expectations and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believe,” “estimate,” “will be,” “will,” “would,” “expect,” “anticipate,” “plan,” “project,” “intend,” “could,” “should” or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance and speak only as of the date they are made, and we do not undertake to update our forward-looking statements. 

Caterpillar’s actual results may differ materially from those described or implied in our forward-looking statements based on a number of factors, including, but not limited to: (i) global and regional economic conditions and economic conditions in the industries we serve; (ii) commodity price changes, material price increases, fluctuations in demand for our products or significant shortages of material; (iii) government monetary or fiscal policies; (iv) political and economic risks, commercial instability and events beyond our control in the countries in which we operate; (v) our ability to develop, produce and market quality products that meet our customers’ needs; (vi) the impact of the highly competitive environment in which we operate on our sales and pricing; (vii) information technology security threats and computer crime; (viii) additional restructuring costs or a failure to realize anticipated savings or benefits from past or future cost reduction actions; (ix) failure to realize all of the anticipated benefits from initiatives to increase our productivity, efficiency and cash flow and to reduce costs; (x) inventory management decisions and sourcing practices of our dealers and our OEM customers; (xi) a failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures or divestitures; (xii) union disputes or other employee relations issues; (xiii) adverse effects of unexpected events including natural disasters; (xiv) disruptions or volatility in global financial markets limiting our sources of liquidity or the liquidity of our customers, dealers and suppliers; (xv) failure to maintain our credit ratings and potential resulting increases to our cost of borrowing and adverse effects on our cost of funds, liquidity, competitive position and access to capital markets; (xvi) our Financial Products segment’s risks associated with the financial services industry; (xvii) changes in interest rates or market liquidity conditions; (xviii) an increase in delinquencies, repossessions or net losses of Cat Financial’s customers; (xix) currency fluctuations; (xx) our or Cat Financial’s compliance with financial and other restrictive covenants in debt agreements; (xxi) increased pension plan funding obligations; (xxii) alleged or actual violations of trade or anti-corruption laws and regulations; (xxiii) international trade policies and their impact on demand for our products and our competitive position; (xxiv) additional tax expense or exposure; (xxv) significant legal proceedings, claims, lawsuits or government investigations; (xxvi) new regulations or changes in financial services regulations; (xxvii) compliance with environmental laws and regulations; and (xxviii) other factors described in more detail in Caterpillar’s Forms 10-Q, 10-K and other filings with the Securities and Exchange Commission.