SmartPM Secures $5.5 Million Series A Funding

SmartPM Technologies, a construction technology company providing a real-time automated analytics platform, announced a $5.5 million Series A funding round. The round was led by Building Ventures with participation from GS Futures and Nemetschek Group. This brings the total funds raised by SmartPM to $11.9 million across four funding rounds since its founding in 2012 by Billy Upchurch, Michael Pink, and Richard Pink.

SmartPM’s platform addresses the increasing challenges faced by construction projects, such as shorter timelines, rising material costs, and labor competition. By leveraging project data and analytics, SmartPM helps construction teams manage these challenges, ensuring projects are completed on time, within budget, and to the highest quality standards. The platform provides automated project controls and scheduling tools, capturing real-time data and predictive analytics to give users comprehensive insights into project status.

The funding will enable SmartPM to enhance its platform and expand its reach in the construction industry. The company's technology allows users to ingest schedule files from legacy tools like MPP, P6, and Phoenix, analyze the data to gauge schedule feasibility, track progress, and identify costly patterns. With these capabilities, SmartPM aims to mitigate unpredictability in project execution and improve stakeholder relationships by providing accurate forecasting and high-level insights available at a glance.