Nemetschek Group Invests In Project Cost Control Startup LiveCosts

▤ Summary

Munich, April 12 2023 The Nemetschek Group, a globally leading software provider for the AEC/O industry, today announced the initial investment in the Irish startup LiveCosts in form of an initial funding. This is a strong continuation of the Nemetschek Groups strategy to support young and innovative entrepreneurs within the construction industry.LiveCosts, the Irish software startup out to revolutionise the construction industry, today announced that it had secured a round of initial funding from the Munich-based Nemetschek Group.LiveCosts have simplified cost control with an easy-to-use software that connects the office to field. Their goal is to make simple construction technology available for all companies, no matter the size. The team offers a Software-as-a-Service product that seamlessly connects to a companys accounting system while offering simple, smart and sophisticated dashboards that power profitable projects.The founders worked in the construction industry themselves and know about the difficulties when it comes to managing different stakeholders and technologies.We basically tell contractors if they are making money or not, summarizes Ciaran Brennan, CEO and one of the co-founders of LiveCosts the benefits of the software.Excel and spreadsheets are still important tools but in a world of machine learning, digital tools, process automation and system integration, they are no longer an efficient and effective method to manage a companys project finances, he adds.Customers of LiveCosts confirm a massive efficiency gain. Our accounts person saves 1 day a week in admin work using LiveCosts, says Jackie Dunne from Ashgrove Ireland.Ciaran Devlin from Inline Construction adds that weve expanded in two years what other businesses would have expanded in ten.

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Nemetschek Group

$1M to $5M