SmartPM Technologies, a company that builds automated project controls for construction, announced the successful closing of a $5.5 million Series A funding round. This milestone, led by investors Building Ventures, with participation from GS Futures and existing investors The Nemetschek Group, marks a pivotal moment in SmartPM’s journey of innovation and market expansion.
SmartPM is at the forefront of transforming the commercial construction industry with its advanced schedule control platform. This platform enables contractors, project managers, and stakeholders to harness real-time data, predictive analytics, and actionable insights, ensuring projects are completed on time and within budget.
This funding round will accelerate SmartPM’s strategic initiatives, focusing on enhancing its AI-driven platform, expanding their team, and increasing market penetration. And this aligns with the company’s commitment to delivering unparalleled efficiency, transparency, and risk management solutions to the commercial construction sector.
With a solid track record of success and a growing presence among the top firms, SmartPM’s announcement is especially significant for the ENR 400 audience. And 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.
KEY QUOTES:
“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.
“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.”
- Jesse Devitte, Co-founder and General Partner, Building Ventures
“SmartPM understands how to build software that our industry needs. It is an approachable platform to get the most from the existing scheduling process. 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.”
- Aaron Toppston, Managing Partner GS Futures
“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.”
- Matt Wheelis, SVP Strategy, Build & Construct Division of the Nemetschek Group
“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. Their understanding of our schedule analytics and project controls platform, and the myriad 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.”
- Michael Pink, CEO of SmartPM
