Exactly one year after the successful completion of the EUR 30 million financing round in March 2020, PlanRadar has further consolidated and strengthened its market leadership position as a digital documentation and communication expert in the construction industry and real estate management sector. This company recorded a rapid growth in the number of users, a successful start of business in the new markets, as well as a high growth in turnover despite the COVID19 pandemic.
Thanks to its rapid and successful development and growth, one of the world`s leading analytics companies for startups, Tracxn, recently rated PlanRadar as "Soonicorn", a company that could soon become a unicorn startup, which is a company with a potential value of one billion US dollars.
PlanRadar`s astonishing market success has been reflected in monthly growth rates of five to eight percent over the past year. Also, the number of customers exceeded 10,000 for the first time, and it is expected that the number of users will exceed 100,000 in the first quarter of 2021.
The successful business results of the company ensured the attraction of capital. Thus, in the spring of 2020, two internationally known strategic investors, Insight Partners and e.ventures, invested EUR 30 million in PlanRadar, an amount intended for strategic expansion, as well as business strengthening in the years to come.
– The year 2020 was successful once again, despite the difficult economic environment – said Sander Van de Rijdt, Member of the Management Board and one of the founders of PlanRadar, and added: – Our product innovation, which was well accepted by the market, was more important than strong sales figures – especially new BIM functionality and expanded integration possibilities with other platforms. We have also far exceeded our expectations in terms of launching new markets such as Russia, Poland, France, Spain or Italy.
– The strong increase in license revenues as well as the existing capital allow PlanRadar to finance further growth. We are already planning new international goals – said Ibrahim Imam, Member of the Board and one of the founders of PlanRadar, and added: – The fact that customers today see PlanRadar as a platform necessary for successful project management with their existing back-office systems confirms that our strategy is appropriate. We are not talking about replacing existing systems here, but about providing accurate data from a construction site or real estate in real time. Therefore, PlanRadar is increasingly becoming the standard for the construction industry and real estate management, especially in Europe.