Munich-based Thinkproject, a leading cloud-based Common Data Environment provider for construction and engineering projects, grew revenue by over 20% during the financial year of 2018.
Revenue for Thinkproject, both in Germany and internationally, grew across all target segments (public and private asset owners, general contractors and project managers). This positive trend also led to an expansion of staff in development, sales and customer services, resulting in an overall 15% increase to approximately 300 people across the entire group. The year 2019s highlights included, amongst others, the acquisition of contract management specialist CEMAR, and numerous wins of strong customers.
Thinkproject expanded both its regional scope and the scope of the product by acquiring UK-based CEMAR, a leading cloud-based solution for managing NEC (New Engineering Contracts) and FIDIC (International Federation of Consulting Engineers) contracts. Thinkproject was awarded several international contracts from customers including Bayer AG, Siemens RE, CG Group AG, DEKA, Gerchgroup AG, Arkema, Femern Link Contractors and others. Thinkproject also continues to thrive in the government infrastructure sectors such as rail and road.
We are very pleased with the business development of thinkproject in 2018, says Thomas Bachmaier, founder and CEO. In 2019, we will focus on the further expansion of our product portfolio by bringing CEMAR contract management to Asian and European markets and by offering thinkproject in the United Kingdom as well as in France. We will also launch a new user interface (UI/UX) with Version 10 of thinkproject, as well as further accelerate our investment in mobile solutions and BIM.
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