SmartPM Technologies, Inc., an Atlanta-based company that provides proprietary software in the real estate and construction industry, has secured a $1.1 million seed round.
CEO and founder of SmartPM Michael Pink said the company received the funding from more than 10 angel investors, most of whom are based in Atlanta. Pink declined to disclose the names of the investors involved in the company's first funding round.
Capital raised from the round will be used to hire employees for product development, customer management and sales, as well as advancing the company's technology, Pink said.
"Prior to funding, we had three (employees) and now we have seven," he said. "We plan by the end of the year to have 12 to 15."
SmartPM provides software to real estate developers and construction managers that analyzes the data in construction project schedules on large commercial projects, Pink said. With the software, customers are able to analyze the progress, performance and financial risk associated with their commercial construction projects.
"We’re headed to become the standard in data analytics in construction and real estate," he said. "There’s a big void in that area regardless of all the product technology management that they do. No one knows how to actually analyze the data and we want to set that standard."
