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HammerTech Moves One Step Closer to Unicorn Status as It Helps Construction Companies Overcome the Industry's Mounting Challenges
Friday, August 11, 2023
Company continues to expand its footprint, moving into the UK and Ireland, as well as Canada, with new contracts and amid high demand With over 15,000 projects globally and a strong revenue growth rate year-over-year, HammerTech exceeds expectations with 94% retention
CHICAGO, Aug. 3, 2023 /PRNewswire-PRWeb/ -- HammerTech, the world's leading compliance, risk and safety software for the construction industry, today released impressive metrics as it inches towards its predicted unicorn status by addressing the most pressing needs of construction companies and workers worldwide. The company also shared details on its global expansion into the UK, Ireland and Canada, five years after entering the U.S. market.
"The increase in workplace injuries and accidents on construction sites is concerning. Our mission to help make sites safer is rooted in developing solutions that solve real problems for teams in the field while creating valuable insights to save time and make informed safety and operational decisions," said HammerTech Co-founder and CEO Ben Leach. "We ensure teams aren't anchored in the site office and can easily communicate with subcontractors to markedly improve collaboration around EHS requirements. It takes time to establish yourself in new markets, however it is clear the mission and product are resonating which explains our sustained growth."
HammerTech's construction EHS software is now used by more than 400 clients and 15,000 projects globally. This translates to over 3 million worker inductions completed in the HammerTech platform and represents a 40% increase in the number of North American clients within the last 12 months. Additionally, the company posted strong revenue growth year-over-year, with an above industry retention rate of 94% at a time when many technology providers are seeing retention collapse.
Moving Into New Territory
Currently, 85% of the Top 100 builders in Australia use HammerTech's digital platform to consolidate safety and site operations processes into one paperless system. Since expanding into the U.S. market in 2018, the company has followed a similar trajectory, with its first client, DPR Construction, still a blue-chip partner in the HammerTech Community today. HammerTech has added many top ENR clients over the past year, with an emerging hub of contractors headquartered out of the Midwest and East Coast, including national players FCL Builders, Shawmut Design and Construction and Power Construction. As the company broadens its reach across North America, it has been a part of several marquee projects, including the Squamish Nation Nch'?ay? Development Corporation and Westbank First Nation-sponsored, Sen?A?w project in Vancouver, B.C being built by Peak Construction Group, as well as MIT's adaptive reuse of the Metropolitan Storage Warehouse, in Cambridge, MA, being built by Shawmut Design and Construction.
Industry demand for HammerTech's technology has escalated throughout the world, as it works with global contractors who deliver high-profile global clients in the technology and pharmaceutical sectors. To fully support such demand, the company recently announced its expansion into the UK and Ireland while increasing its presence in New Zealand and Canada. The company has doubled headcount over the past two years, with employees spread between offices in its primary locations: Australia, the U.S., Canada, the UK, Ireland, and New Zealand.
As part of its effort to serve new customers and meet a broader range of needs and workflows, HammerTech is also investing deeply in product development, with new capabilities set to debut later this year.
To learn more about how HammerTech is helping to create a safer and more efficient construction industry, please visit www.hammertech.com.
About HammerTech
HammerTech is a software platform, created by construction and technology professionals, that simplifies more EHS, site operations and paperwork processes than any other tool on the market. By using HammerTech to automatically mine digital EHS processes, general contractors gain preventative EHS insights to solve unique construction safety problems.
HammerTech was founded in Melbourne in 2015 with the aim of making construction sites safer, and the system has been designed to support unique company requirements while improving the visibility, timeliness and accuracy of data. The platform speeds up administrative tasks, such as permits management, by up to 57% for over 15,000+ projects worldwide, enabling staff to spend more time onsite focused on mission-critical tasks and less time on paperwork.
Pull Quote
"Our mission to help make sites safer is rooted in developing solutions that solve real problems for teams in the field while creating valuable insights to save time and make informed safety and operational decisions"
Media Contact
Amber Moore, Moore Communications, 1 5039439381, amber@moorecom2.com
SOURCE Moore Communications
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