LiveCosts cost control platform receives funding from Nemetschek Group

The Nemetschek Group, a software provider for the AEC/O industry, has announced the initial investment in the Irish startup LiveCosts in the form of initial funding. 

“We basically tell contractors if they are making money or not”, summarises Ciaran Brennan, CEO of LiveCosts (Photo: AdobeStock)

LiveCosts are said to have simplified cost control with software that connects the office to the field. The team offers a Software-as-a-Service product that connects to a company’s accounting system while providing dashboards that power profitable projects.

“We basically tell contractors if they are making money or not”, summarises 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 company’s project finances”, he adds.

LiveCosts was launched in 2020 after two extensive years of research – and was meant to solve the team’s own issues during a construction project. 

“With the support of the Nemetschek Group and our initial funding, LiveCosts can tap into new markets and broaden their portfolio. We are excited to be part of this journey and enabling construction teams of all sizes to gain better project insights”, explains Tanja Kufner, Head of Startup & Venture Investments at the Nemetschek Group.