MUNICH, Germany and LONDON, UK, Jul 6, 2022 – The Nemetschek Group, one of the leading software providers for the AEC/O and media & entertainment industries, announced to have invested in the UK-based start-up SymTerra, a construction site communications platform. The investment underlines the Nemetschek Group venture strategy of driving digitalization and efficiency in the construction industry.
Over 30% of construction costs are directly related to re-work and delays, because of miscommunication on site. SymTerra’s communication platform allows easy, instant, and intuitive communication across multiple contractors to the same project. Clients, contractors and subcontractors can now document works via images and video, cross reference assets and activities, and share information instantly with who they need to.
As the founders come from construction themselves, SymTerra is set to resolve a unified pain-point across all construction sites: poor communication. “We’ve lived the pain of the re-work issue due to poor information and communication on our projects. Unlike existing software where information is siloed, we allow site teams to communicate and share updates through flexible pricing and user permissions that reflect how work is actually delivered. Our users have helped refine SymTerra to be a tool that site teams want to use”, explains John Ryan, SymTerra Co-Founder and CEO.
“Miscommunication in construction generates spendings of 280 billion USD globally. SymTerra´s innovative solution is aimed at avoiding those unnecessary costs”, says Yves Padrines, CEO of the Nemetschek Group. “We are excited to be working more closely with the inspiring team. Our global reach can support SymTerra bringing their solution to a large number of customers, making the industry more efficient and productive.”
Tanja Kufner, Head of Startups & Venture Investments at the Nemetschek Group adds that “investing in SymTerra perfectly aligns with our strategy of driving innovation and digitalization throughout the entire value chain of construction.” The cash infusion from several investors will enable SymTerra to significantly grow their team and expand upon their features so that the platform becomes further accessible to the whole supply chain.
The results speak for themselves: The use of SymTerra on the Liverpool Street Project allowed the project team at MTREL to achieve real-time reporting and obtain live updates from site on over 500 planned activities during a critical 10-day Easter blockade. The project for the platform extension and renovation of the London Liverpool Street Station involved installing a new crossing, platform widening, improved lighting and upgrades to signal renewals. “We were able to update the hour-by-hour program in real-time, identify any change to the critical path and effectively re-sequence works or re-allocate resources to ensure completion on time. The app allowed us to obtain comprehensive visibility over what was happening on site and enabled us to confidently report back to stakeholders on progress”, says Matthew Stimson, MTREL Project Manager.
The investment in SymTerra is the first for the Nemetschek Group in a UK-based startup and a continuation of the strategy of supporting young and innovative entrepreneurs to shape the future AEC/O market and drive innovation. See also our recent announcements regarding investments in the start-ups Imerso, Reconstruct, and Sablono.
About Nemetschek Group
The Nemetschek Group is a pioneer for digital transformation in the AEC/O and the media & entertainment industries. With its intelligent software solutions, it covers the entire lifecycle of building and infrastructure projects, guides its customers into the future of digitalization and enables them to shape the world. As one of the leading corporate groups worldwide in this sector, the Nemetschek Group increases quality in the building process and improves the digital workflow for all those involved. Customers can design, build, and manage buildings more efficiently, sustainably and resource-saving. The focus is on the use of open standards (OPEN BIM). The portfolio also includes digital solutions for visualization, 3D modeling, and animation. The innovative solutions of the brands ALLPLAN, Bluebeam, Crem Solutions, dRofus, FRILO, Graphisoft, Maxon, Nevaris, RISA, SCIA, Solibri, Spacewell and Vectorworks in the four customer-oriented segments are used by approximately 6.5 million users worldwide. Founded by Prof. Georg Nemetschek in 1963, the Nemetschek Group today employs around 3,400 experts all over the world.
Publicly listed since 1999 and quoted on the MDAX and TecDAX, the company achieved revenue amounting to EUR 681.5 million and an EBITDA of EUR 222.0 million in 2021. For more information, visit https://www.nemetschek.com.
Since launch in March 2021, SymTerra has built a client portfolio that currently includes £5bn worth of construction and infrastructure projects for industry-leading organizations Thames Water, MTR, Kier, Cambridge University, Balfour Beatty, and Transport for London. In the first 6 months it was shortlisted on a Kier project by New Civil Engineer for the best smart data collection. Investors in SymTerra’s seed funding round include SamaiPata, Nemetschek, Pi Labs and Accel. Following the seed investment, SymTerra will be seeking to grow its team to 25 people by the end of the year, tripling current headcount, responding to significant demand from current clients as well as enabling the team to explore opportunities in new regions. For ore information, visit https://www.symterra.co.uk.