Atlanta Construction Startup SmartPM Technologies to Grow Globally
Construction software company SmartPM Technologies incorporated has shut its largest acquisition contest. It currently prepares to extend globally and combine artificial intelligence into its product. The company acquired a round of financing from construction companies Zachry Construction Corp. and Nemetschek Group, which resulted in a total raise of US$4.5 Mn, according to SmartPM CEO.??
Importance of Financing
The acquisitions provide the company more credibility in the market area, which is necessary for the company strives to understand and expand from the new associates. As each will convey their own individual experience and vantage points to the table to support. SmartPM becoming an amazing world-class product with an international spread, according to the CEO. The growing demand for advanced project management abilities, the popularity of cloud-based solutions, and the desire for advanced customer experience and better alliances between teams drive the growth of the construction software market. In addition, as per the research report of Astute Analytica , the growth graph of the global construction software market will grow at a CAGR of 8.3% in the future.?
Future Plans to Expand Globally?
SmartPM prepares to increase its staff from about 25 to more than 40 workers by 2024. It also examines multiplying its present client base of about 115 within 2 years. It will boost marketing to develop its existence in the European and South American markets. The most current acquisition gets the total budget for the construction project analytics firm to US$7.5 Mn.?
About the Investors?
Nemetschek Group is an investor in construction software firms including California-based Bluebeam Inc. and Germany-based Nevaris as part of the acquisition, the company's senior Vice President of Strategy for the construct and build unit will enter the council of SmartPM. Zachry Corporation is a heavy and civil construction firm established in San Antonio, Texas. It spans over 5,500 construction projects for clients across the globe.?
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Conclusion?
SmartPM’s technology established in 2016, studies construction project timelines and detects viable sites of inefficiency to be cost-efficient, lower risk, and avoid delays. After its current acquisition, the startup will initiate leveraging AI to enhance decisions made by its clients, according to the CEO. In 2021, SmartPM was tilted by the Technology Association of Georgia on its Top 40 Innovative Technology Firms and it is also recognized as a Startup to watch by Atlanta Business Chronicle.?
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