International AEC software group Nemetschek has joined the Series A funding round for SmartPM, an innovator in automated construction project controls
The investment represents a continuation of Nemetschek’s relationship with SmartPM, having initially invested in the contech firm last year.
SmartPM is developing schedule controls software, specializing in data-driven tools and analytics for the commercial construction industry.
By leveraging AI and machine learning, it enables clients to optimize project performance, mitigate risks and ensure timely, cost-effective project completion.
The injection of capital will accelerate SmartPM efforts to enhance its AI-driven contech platform, expand its team and increase market penetration.
Contech redefining standards of project delivery
Matt Wheelis, Nemetschek’s SVP strategy, build and construct, said SmartPM helps executives and site teams 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,” he added.
“The follow-on investment by the Nemetschek Group is a great sign of trust for us,” said SmartPM CEO Michael Pink.
“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.”
Tanja Kufner, head of startups and ventures at Nemetschek Group, said SmartPM can “redefine the standards of project delivery”.
“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,” she added.
“We are excited to continue our joint path with this exceptional team.”
