ATLANTA, May 29, 2024 – (BusinessWire) – SmartPM Technologies, Inc., a leading innovator in automated project controls for construction, announces the successful closure of a $5.5 million Series A funding round. This significant milestone is led by investors Building Ventures, with participation from GS Futures and existing investors The Nemetschek Group, marking a pivotal moment in SmartPM’s journey of innovation and market expansion.
Having established a robust product-market fit, SmartPM is at the forefront of revolutionizing the commercial construction industry with its advanced schedule controls platform. This platform empowers contractors, project managers, and stakeholders to harness real-time data, predictive analytics, and actionable insights, ensuring projects are completed on time, within budget, and according to the highest quality standards.
“In every project, there is a moment of reckoning when the reality of the project’s progress against timelines must be dealt with. SmartPM’s comprehensive platform allows project stakeholders to not only monitor their progress but also to take proactive, timely actions and steer projects toward successful outcomes for all stakeholders,” said Jesse Devitte, Co-founder and General Partner, Building Ventures. “It’s no surprise that the market’s response to SmartPM’s product is overwhelmingly favorable—we have never received more positive feedback from existing customers on any company or product in diligence. I am excited to join the board of directors, and our entire team is thrilled to be helping Mike Pink and his team grow their business going forward.”
Fueling Growth and Innovation
The infusion of capital will accelerate SmartPM’s strategic initiatives, focusing on enhancing its AI-driven platform, expanding their team, and increasing market penetration. This aligns with the company’s commitment to delivering unparalleled efficiency, transparency, and risk management solutions to the commercial construction sector.
SmartPM’s Series A Funding: A Vote of Confidence from Industry Leaders
The involvement of Building Ventures, The Nemetschek Group, and GS Futures underscores the confidence in SmartPM’s vision and the transformative potential of its technology. These partnerships are set to propel SmartPM’s mission of redefining project delivery through innovation, expertise, and customer-centric solutions.
“SmartPM understands how to build software our industry needs. It is an approachable platform to get the most from the existing scheduling process,” said Aaron Toppston, Managing Partner GS Futures. “Moreover, it unlocks insights into organizational health and trends, allowing builders to reduce risk and improve delivery. The AI labeling and machine learning tools enabling these insights are downright impressive — but the fact that a user needs nearly zero training to use the platform is the magic of its value.”
Targeting the ENR 400 Audience
With a proven track record of success and a growing presence among the top firms, SmartPM’s announcement is particularly significant for the ENR 400 audience. The company’s platform is uniquely positioned to address the complex challenges faced by these leading firms, offering scalable solutions that drive operational excellence, mitigate risks, and enhance competitive edge in the rapidly evolving construction landscape.
“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.
A Future Geared Towards Excellence
“SmartPM is extremely fortunate to have joined forces with an exceptional group of investors. Building Ventures, GS Futures, and The Nemetschek Group bring an unparalleled wealth of industry knowledge and experience in building Contech software companies,” said Michael Pink, CEO of SmartPM. “Their understanding of our schedule analytics and project controls platform, and the myriad of problems we solve, is beyond my expectations. These investors not only grasp our vision but passionately 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.”
SmartPM is set to redefine the standards of project delivery, ensuring that every stakeholder can achieve optimal outcomes through advanced, data-driven project controls. As the company embarks on this new chapter, it remains dedicated to its mission of empowering the construction industry to manage projects smarter, safer, and more efficiently than ever before.
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: smartpm.com
