Germany’s thinkproject increased its revenue by more than 25% in 2019 and anticipates continued double-digit revenue growth in 2020.
Munich-based thinkproject, which describes itself as “Europe’s leading construction and engineering SaaS provider”, increased its revenue by more than 25% in 2019. Following profitable growth in the international construction software market, recent acquisitions, and continued investment in its products, around 400 employees and over 2,000 customers, thinkproject enters 2020 with significant new customer wins and the introduction of an indirect channel partner.
thinkproject acquired Essen-based ceapoint aec technologies GmbH in February 2019 (post), strengthening its BIM capabilities with ceapoint’s DESITE BIM while extending ceapoint’s regional scope. In October 2019, thinkproject then acquired Germany-based BIM common data environment (CDE) specialist Conclude GmbH (post). The acquisition further strengthened the company’s leading position with asset owner customers in the central European DACH region, and added cost management capabilities to its product portfolio.
During 2019, thinkproject also won a major infrastructure project in the Asia Pacific region, supporting
clients embracing NEC contracting standards (thinkproject acquired the UK-based NEC contract change management platform CEMAR in May 2018), and won its largest enterprise customer contract to date in mainland Europe.
In early 2020, thinkproject has already won two new major clients, and has invested in growing its European indirect channel partnerships by appointing BIM expert Mensch & Maschine as a non-exclusive pan-European reseller for DESITE BIM (20 January 2020 post).
Appointed thinkproject CEO in May 2019, Gareth Burton (right) is enthusiastic going into the company’s 20th year in operation:
“We are proud of the diverse company we have built and will continue to invest in our people, environment and the communities we work in. Thanks to our fantastic employees and customers, we have delivered substantial growth in recent years and we anticipate continued double-digit revenue growth in 2020.”
Ralf Grüßhaber, thinkproject’s CFO, says:
“After the tremendous growth we saw in 2019, we want to continue gaining market share at further improved margins. We are expanding our geographic footprint to provide improved support for our clients and this will be an exciting year for the product side of thinkproject as we continue investing in our product integration and innovation. We are planning to launch our multilingual CEMAR product this year, which will support wider NEC contract management across Europe and beyond.”
Burton adds:
“We will strengthen our cross-selling efforts, helping us meet increased demand from our customers for construction intelligence and make use of the integrated broad product portfolio we have within our group: CDEs, BIM, contract management, cost management, managed services and mobile solutions. Plus, we will further expand our growing reseller partnerships in 2020.”
