MUNICH, Germany, May 31, 2024 – The Nemetschek Group, a leading global software provider for the AEC/O and media industries, participated in a Series A funding round for SmartPM Technologies, Inc., a leading innovator in automated project controls for construction. The investment is a continuation of the business relationship with SmartPM. Already last year, the Nemetschek Group announced an investment.
“What excites us about SmartPM is how it helps construction executives and site teams solve operational problems by helping them understand the root cause and potential solutions for scheduling issues. This simple and easily adoptable solution delivers value without changing established schedule workflows. We are very much looking forward to continuing our collaboration with the SmartPM team, especially under the guidance of their exceptional leadership,” says Matt Wheelis, SVP Strategy, Build & Construct at the Nemetschek Group. Wheelis is part of the board of SmartPM.
SmartPM is developing schedule controls software, specializing in data-driven tools and analytics for the commercial construction industry. By leveraging AI and machine learning, SmartPM delivers comprehensive insights, enabling clients to optimize project performance, mitigate risks, and ensure timely, cost-effective project completion.
“The follow-on investment by the Nemetschek Group is a great sign of trust for us”, says Michael Pink, CEO of SmartPM. “They have a deep understanding of our market and are the perfect partner to support our mission to establish a new standard in data management, analytics, and project controls in commercial construction. Very exciting times ahead for SmartPM as we intend to grow and scale our business, serve many more customers and take the product to a whole new level.” The infusion of capital will accelerate SmartPM’s strategic initiatives, focusing on enhancing its AI-driven platform, expanding their team, and increasing market penetration.
“SmartPM is set to redefine the standards of project delivery; users can manage projects smarter, safter and more efficiently. The platform is uniquely positioned to address the complex challenges of construction companies, offering scalable solutions that drive operational excellence, mitigate risks, and enhance competitive edge in the rapidly evolving construction landscape,” says Tanja Kufner, Head of Startups and Ventures at the Nemetschek Group. “We are excited to continue our joint path with this exceptional team.”
About SmartPM Technologies, Inc.
SmartPM Technologies, Inc. is a leading provider of schedule controls software, specializing in data-driven tools and analytics for the commercial construction industry. By leveraging AI and machine learning, SmartPM delivers comprehensive insights, enabling clients to optimize project performance, mitigate risks, and ensure timely, cost-effective project completion. For more information, visit: www.smartpmtech.com.
About Nemetschek Group
The Nemetschek Group is a leading global software provider for digital transformation in the AEC/O and media industries. Its intelligent software solutions cover the entire lifecycle of building and infrastructure projects and enable creatives to optimize their workflows. Customers can design, build, and manage buildings and infrastructures more efficiently and sustainably and develop digital content such as visualizations, films, and computer games more creatively. The software provider is driving innovations such as digital twins, open standards (OPEN BIM), and sustainability in the AEC/O industry, constantly expanding its portfolio by investing in deep-tech startups. More than seven million users worldwide are shaping the world with the customer-focused solutions of our four divisions. Founded by Prof. Georg Nemetschek in 1963, the Nemetschek Group today employs around 3,600 experts globally.
The company, which has been listed in the MDAX and TecDAX since 1999, achieved a revenue of EUR 851.6 million and an EBITDA of EUR 257.7 million in 2023 according to preliminary figures. For more information, visit www.nemetschek.com.
