PlanRadar announces remarkable global growth of more than 50% year-on-year in 2023, underlined by antiquing spirit of innovation and strategic entrepreneurship in the face of industry challenges and geopolitical turmoil.
PlanRadar is a leading digital construction, real estate, and facilities management platform that since its founding in 2013, has fast established itself as one of the world’s leading PropTech companies. Its significant growth comes in the wake of the company’s substantial territorial expansion, workforce growth and R&D amplification over the past year after raising about $70m in its Series B funding round in 2022.
Strong presence in European markets
PlanRadar’s growing footprint is in response to the huge global appetite for its technology and its continuing success in transforming an industry that historically has been reluctant to go digital. Europe, a primary market for PlanRadar, showcased a 50% revenue increase, despite reports of a projected decline in the construction industry. This growth is driven by consistently strong performances in DACH countries, Italy and exceptional growth in Great Britain. Also, Spain experienced a notable 90% customer growth, signaling a positive response to European sectoral instability.
Successful expansion into MENA and APAC regions
The MENA and APAC regions emerged as rising stars, in line with reports and forecasts of steady growth in both regions (MENA, APAC). PlanRadar has been present in these areas since 2022 with offices in Dubai, Singapore, and Sydney. The Asian expansion led to a doubling of PlanRadar’s client base in 2023, underscoring the market’s potential and confirming the company’s ambitions for the coming year. Group Co-CEO Ibrahim Imam states:
“We are committed to deepening our roots within the regions we’ve expanded into. We see very dynamic economies, both established and emerging in these countries. As construction takes on a growing role in these countries’ growth, PlanRadar is committed to being a stable partner, on hand to help to drive their acceleration. 2024 promises to be a year filled with advances for the platform, with the launch of several AI features.”
PlanRadar also reflects this positive trend within its overall employee growth, with over 150 new hires recorded during 2023.
Strategic planning in the face of geopolitical instability
The past few years have been marked by increasing instability, resulting in economic shockwaves. This has placed a growing strain on companies at both a domestic and international level, not least in the construction industry. As a matter of importance, PlanRadar works in partnership with customers to adapt to the volatile environment, supporting them to continue to thrive. Sander van de Rijdt, Group Co-CEO explains:
“The nature of PlanRadar’s business model is such that we are constantly working with and encouraging our clients to future-proof their organizations. We have seen firsthand how companies that choose to keep on advancing and optimizing their processes, and technology investments are subsequently better prepared to confront the fallout of global economic shocks.”
Client-Centric Innovations
The company’s continual focus on evolving industry demands and client satisfaction has pushed significant innovations in R&D and new product features. In 2023, PlanRadar released its Document Management feature, giving customers the power to manage plans and documents centrally, with all updates tracked for full traceability. All document approvals and authorisations are handled in PlanRadar’s platform, instead of scattered across email and elsewhere, with robust versioning to keep all files organised. This new functionality helps users manage plans and documents from the very early planning phases of a project through to construction and into operations.
Centralisation is a core feature of PlanRadar’s proposition and has proven to increase transparency, while cutting hours of process time allowing companies to focus on matters more important to them such as business growth and client service.
Feature enhancements: Along with ongoing improvements and new features, there were two key enhancements.
The “Calendar view” was introduced for users to see tickets more accessibly. Users wanted to be able to align tickets with their own diaries. Where previously they could see the tickets on a list or a visual plan, having them detailed in a calendar helps greatly to incorporate tickets into their day-to-day planning.
The “Schedule” functionality was refined further to help users’ project management needs allowing them to link project dependencies and see the complete critical path. Essentially, they get a clearer view of the full project and any and all potential bottlenecks and delays, and can better prepare any contingency plans.
All improvements are made with the aim to both simplify clients’ lives, as well as to encourage them to use PlanRadar comprehensively across project phases.
Here’s how users have been actively using PlanRadar in 2023:
· More than 8.5 million tickets created
· More than 14 million images uploaded
· More than 700,000 plans uploaded
· Around 1.2 billion interactions
· Around 28 terabytes of down- and uploaded storage per month
As a business that started in Vienna and has since grown into an organization which spans across the globe, PlanRadar continuously adapts its strategy and continuously innovates. And, despite global challenges, its success in 2023 has shown its ability to turn obstacles into opportunities to innovate and thrive.
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