Textura's estimated $56-million initial public offering illustrates the expanding role of information technology in the $7-trillion-a-year global construction business.
 
The Deerfield, Ill.-based company, which helps project teams close out bank draws faster using electronic means, has grown rapidly since its inception in 2004.
 
Last year, Textura reached $21.7 million in revenue, a 106.2% annual increase. Sales in 2010 were $6 million, a 90% increase over 2009, according to public filings.
 
The company has yet to reach profitability, however. Last year, it booked an $18.8-million loss after an $18.9-million loss in 2011.
 
Even so, investors of fast-growing companies say they are more interested in hockey-stick like revenue growth charts than profits. Eventually, they say, a tech company's high startup costs will yield rewards as the technology spreads. Textura currently serves 41 of the top-100 general contractors ranked on the ENR Top 400 list.
 
Because of its success in streamlining construction projects, ENR named Textura one of its Top 25 Newsmakers for 2009.
 
For Textura to continuing growing, it will need to expand abroad. Today, it serves projects in the U.S. and Canada. However, "in certain markets, due to local business practices and regulations, we believe our value proposition could be even stronger than in our established markets in North America," says the company's prospectus.
 
The company plans to sell 4 million shares, or roughly one-fifth of the company, at a price of between $13 to $15 per share. It will to use the estimated $49.8 million in net proceeds to pay down debt and fund new ventures, records indicate.
 
Textura, which most recently updated its S-1 filing on May 28, is set to go public on the New York Stock Exchange under the ticker symbol TXTR.