The Nemetschek Group, a leading global software providers for the AEC/O and media & entertainment industries, announced their investment in the start-up SmartPM, a project controls automation platform, based in Atlanta, Georgia, USA. This investment further expands the Nemetschek Group's venture strategy of driving innovation in construction. Matt Wheelis, SVP of Strategy for the Build & Construct Division at the Nemetschek Group, will be joining the Board of Directors at SmartPM.
SmartPM is an Automated Project Controls and Schedule Analytics Platform. Its proprietary schedule analytics technology proactively identifies critical project risk issues throughout the entire construction lifecycle. The software organizes, analyzes, and translates complex and hidden schedule data into key metrics and graphic visuals that support decision-making, resulting in better project outcomes. Designed to work alongside and in tandem with current processes, SmartPM elevates CPM Scheduling Software (MS Project, Oracle Primavera, Power Project) by improving schedule quality and automating project control processes that align with construction industry best practices.
SmartPM has proven to reduce delays and increase savings, with its customers reporting a 50X ROI that often translates to saving millions of dollars on their commercial construction projects. SmartPM has seen rapid growth in its business, partnering with the top contractors in the U.S.
“Due to the inherent complexity of construction schedules, overruns are a risk, and this is not uncommon to the industry”, says Jon Elliott, CEO of Bluebeam and Chief Division Officer, Build & Construct at the Nemetschek Group. “It can be difficult to determine the cause of overruns in projects, and SmartPM addresses this issue through intelligence and analysis. We are proud to be furthering our commitment to innovation with our investment in SmartPM.”
“The Nemetschek Group is leading the charge in the digital transformation of the AEC industry across the Globe, and we feel very fortunate to have Nemetschek align with SmartPM as a strategic investor and industry partner”, says Michael Pink, CEO of SmartPM. “ Not only will Nemetschek help us establish a more global presence, but we are also very passionate about our collective mission to solve some of the more complex challenges in the AEC industry through technology. Together, we will improve this industry through cross-collaboration and collective innovation.”
Tanja Kufner, Head of Startups & Venture Investments at the Nemetschek Group, adds, “SmartPM is an exciting platform because of its approach towards mitigating construction project risk through the use of scheduling process controls. These controls can ensure project schedules are following the best practices and are executed well. The company builds on top of Mike’s 20 years of experience helping companies fight project delays and cost overruns. We are very happy to partner with Mike and the SmartPM team.”
Nemetschek Group brings a global reach as an investor in SmartPM with their portfolio of companies such as Nevaris, a software company specializing in solutions for construction management and technology, and mobile products on the jobsite. Another company with global reach is Bluebeam, a software company developing innovative technology solutions that set the standard for project efficiency and collaboration for AEC professionals.
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