Aconex was founded in 2000 by Leigh Jasper and Robert Phillpot to offer construction collaboration and procurement management services (its name is a concatenation of Australian Construction Exchange). However, due to low market interest in web-based procurement, it focused on expanding its online collaboration services, growing domestic revenue rapidly during the first half of the 2000s. In September 2008, Aconex secured an A$107.5m private equity investment from US-based technology investor Francisco Partners. It has since established a substantial presence in North America.