Munich & Atlanta (Nov. 21, 2024) — The Nemetschek Group announced its participation in a Series B funding round for Document Crunch, a technology company dedicated to transforming document compliance and risk management for the construction industry. The investment and partnership with Nemetschek will enable Document Crunch to accelerate growth, expand its platform, enhance the technology and increase its market reach. Document Crunch’s artificial intelligence (AI)-driven solutions are designed to streamline compliance tasks, reduce risks, and alleviate the burden of manual oversight for construction professionals.
Document Crunch’s focus on contract-related AI is complementary to design reviews and construction drawings with Bluebeam, a Nemetschek brand. “At Nemetschek, we are convinced of the transformative potential that AI holds in driving efficiencies and unlocking deeper insights in the construction industry. Our investment in Document Crunch is a natural extension of our commitment to innovation,” says Matt Wheelis, SVP, Strategy, Build & Construct Division at the Nemetschek Group. “We look forward to working with our joint customers to accelerate the potential for ethical AI in construction.”
"We share a clear vision with Nemetschek for how to transform the construction industry worldwide," says Josh Levy, CEO and cofounder of Document Crunch. "We want to meet the industry where it works, and one of those places is Bluebeam. There is a natural synergy with how Document Crunch can serve as an intelligence and automation layer within the Bluebeam experience, allowing just-in-time insights to de-risk construction industry workflows. Together, we'll make our industry better."
Tanja Kufner, head of startup and venture investments at the Nemetschek Group, highlights the market potential: “Contract risk management and compliance is an area ripe for disruption through recent advances in large language models (LLMs), which align perfectly with the text-based nature of contracts. Document Crunch stands as a pioneer in this niche, building a powerful distribution network and unique industry partnerships with key industry players, to ensure it remains at the forefront as AI technology evolves.”
Nemetschek aims to establish a technical and go-to-market partnership between Bluebeam and Document Crunch to jointly support project managers with actionable insights and enable proactive measures on site. This collaboration will strengthen Document Crunch’s position in document compliance and provide Bluebeam customers with a holistic approach to construction project management.
Visit documentcrunch.com.
