Newforma is a company that focuses on Project Information Management (PIM) for the Architecture, Engineering, Construction, and Operations (AECO) industry. The company offers cloud-based software solutions that streamline project management, improve communication, and increase efficiency by enabling teams to locate, organize, report, and act on project information. Newforma primarily serves the construction industry, with solutions designed specifically for architects, engineers, contractors, and owners. The company was founded in 2003 and is based in Manchester, New Hampshire.
ESPs containing Newforma
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The construction finance platforms market is a space that has been slow to digitize and relies heavily on manual tracking and paper documentation. This market focuses on providing solutions to the problems faced by real estate developers and construction lenders, such as disconnected spreadsheets, scattered documents, and human error. The platforms in this market aim to increase efficiency by auto…
Expert Collections containing Newforma
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Newforma is included in 2 Expert Collections, including Construction Tech.
Companies in the construction tech space, including additive manufacturing, construction management software, reality capture, autonomous heavy equipment, prefabricated buildings, and more
Job Site Tech
Companies in the job site tech space, including technologies to improve industries such as construction, mining, process engineering, forestry, and fieldwork
Latest Newforma News
Oct 16, 2023
Government Initiatives for the Adoption of BIM Drives the Global Building Information Modeling Market Growth: Building information modeling is a highly collaborative software that allows architects, contractors, engineers, and other AEC professionals to work and collaborate on a single 3D model. The software also helps in collecting, sharing and managing data. Because of these benefits of BIM, the governments of various countries have implemented various policies to mandate the use of technology to ensure the planning, design, and construction of buildings across the world. Countries such as the US, the UK, the Netherlands, South Korea, Japan, Hong Kong, Singapore, Australia, and a few other countries have already mandated the use of BIM in the public sector. The UK is one of the leading BIM implementing countries in the world, which has mandated a minimum of Level 2 collaborative BIM for all projects. Similarly, the government buildings agency in the Netherlands mandated the use of BIM for public projects. Also, to promote the use of BIM, the Building and Construction Authority (BCA) of Singapore had made it mandatory to submit BIM plans to get regulatory approval. Such a growing government initiative to mandate the use of BIM is propelling the growth of the building information modeling market. In the global building information modeling market, APAC is expected to have the highest CAGR in the forecasted period. The growing construction industry and the increasing adoption of new technologies are some of the major factors for the growth of the building information modeling market in the region. The large population in countries such as India and China has increased the demand for commercial and residential infrastructure. APAC comprises a large number of emerging economies, such as India, China, and other southeastern countries, which are posting strong demand for more infrastructure projects. Moreover, several countries in the region are focusing on attracting new investments in infrastructure development. For instance, India's government has allowed 100% FDI under automatic routes in completed projects for operations and management of townships, malls/shopping complexes, and business constructions. All the above factors are expected to support the growth of the construction industry in the region, which will fuel the market growth in APAC. In addition, to cater to the increasing demand for urban infrastructure in the region, construction companies in APAC are adopting new technologies to streamline workflows and reduce human errors. Building information modeling software offers various advantages, such as improved accuracy and coordination, reduced risks and costs, increased productivity and efficiency, greater sustainability, and enhanced communication and collaboration. Due to these advantages, the companies operating in the market are widely adopting building information modeling technology, supporting the growth of the APAC market. Global Building Information Modeling Market: Segmental Overview Based on type, the market is segmented into Io software and services. The software segment held the largest building information modeling market share in 2022 and is also anticipated to register the highest CAGR in the market during the forecast period. Based on the project life cycle, the building information modeling market is segmented into preconstruction, construction, and operations. The preconstruction segment held the largest share in 2022 and is also anticipated to register the highest CAGR in the market during the forecast period. Based on applications, the building information modeling market is segmented into civil infrastructure, oil and gas, industrial, utilities, and others. Order a Copy of this Report at https://www.theinsightpartners.com/buy/TIPRE00030097/ The civil infrastructure segment held the largest share in 2022 and is also anticipated to register the highest CAGR in the market during the forecast period. Based on end user, the building information modeling market is segmented into AEC professionals, contractors, and others. The AEC professionals segment held the largest share in 2022 and is also anticipated to register the highest CAGR in the market during the forecast period. Based on geography, the market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). North America held the largest building information modeling market share in 2022, whereas APAC is also anticipated to register the highest CAGR in the market during the forecast period. Global Building Information Modeling Market: Competitive Landscape Autodesk Inc, Archidata Inc, AVEVA Group plc, Asite Ltd, AECOM, Bentley Systems, Dassault Syst, Nemetschek SE, Trimble Inc, and Hexagon are among the key building information modeling market players. These building information modeling market players focus on green tech product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities. Recent Developments: September 2022: Hexagon AB announced the acquisition of iConstruct Pty Ltd, a provider of BIM software used in commercial, infrastructure and industrial construction. Through this acquisition, Hexagon will be able to deliver greater data management, project planning and communication efficiencies to more customers, segments and disciplines involved in the construction process. December 2021: Siemens Smart Infrastructure announced that they had signed an agreement to acquire digital twin software for buildings from EcoDomus, a US-based company. This acquisition will help Siemens Smart Infrastructure expand its digital building portfolio, including its cloud-based building operations twin software and its flagship building management platform Desigo CC. The EcoDomus software creates, maintains and visualizes Building Information Modeling (BIM)-based digital building twins, making design and construction data available for building operations and maintenance. February 2021: Newforma announced the expansion of its BIM capabilities through the acquisition of Quebec-based BIM One, which owns BIM One Consulting and the cloud-based BIM collaboration platform BIM Track. Newforma has a key focus on Project Information Management (PIM), which is designed to streamline communication, manage files and simplify construction administration for architects, engineers, contractors, and owners. The acquisition of BIM One will augment the above capabilities of Newforma with technology and knowledge in BIM coordination, collaboration and analytics workflows. Go through further research published by The Insight Partners:
Newforma Frequently Asked Questions (FAQ)
When was Newforma founded?
Newforma was founded in 2003.
Where is Newforma's headquarters?
Newforma's headquarters is located at 1750 Elm Street, Manchester.
What is Newforma's latest funding round?
Newforma's latest funding round is Acq - Fin - II.
How much did Newforma raise?
Newforma raised a total of $30.5M.
Who are the investors of Newforma?
Investors of Newforma include Ethos Capital, Battery Ventures, Borealis Ventures, North Bridge Venture Partners, Kodiak Venture Partners and 3 more.
Who are Newforma's competitors?
Competitors of Newforma include Finalcad, Bridgit, ProPlanner, Thinkproject, SoftTech Engineers and 7 more.
Compare Newforma to Competitors
ProPlanner operates as a construction scheduling and planning software. It offers a range of features such as project planning, project scheduling, resource management, cost tracking and budgeting, reporting and analytics, and more. ProPlanner was formerly known as Ipsum. It was founded in 2016 and is based in San Francisco, California.
OpCenter is a company focused on construction information management in the construction industry. It offers software solutions that facilitate secure file sharing, project collaboration, and tracking of project activities, designed for architects, engineers, and general contractors. The company primarily serves the construction industry. It is based in Washington, DC.
Bridgit builds cloud-based mobile and web construction software. The platform helps general contractors, engineering consultants, architects, owners, and subcontractors to manage project work. Its product features include application programming interface (API) and integrations, risk management, security and compliance, forecasting, dashboards, reporting, human resources, remote planning, project database, and mobile applications. The company was founded in 2014 and is based in Kitchener, Canada.
Concora develops a digital experience platform. It helps architects, designers, engineers, contractors, and builders find products to specify for their projects. Concora was formerly known as SmartBIM Technologies. The company was founded in 2013 and is based in Alpharetta, Georgia.
SmartPM Technologies develops schedule analysis and monitoring systems designed to streamline the data management and analysis process for the construction industry. Its system offers an automated analytics platform that translates construction schedule data into concise visuals that stakeholders can understand and utilize proactively to address project risk issues. The company was founded in 2012 and is based in Atlanta, Georgia.
Touchplan is a company that focuses on providing real-time, collaborative construction planning software. The company's main service is a cloud-based platform that facilitates collaboration between general and specialty contractors, preventing schedule and budget slippage, ensuring jobsite safety, and providing owners with insights to track progress and anticipate problems on projects. The company primarily sells to the construction industry. It is based in Boston, Massachusetts.