Autodesk to Acquire AI-Powered Construction Software Provider Pype
SAN RAFAEL, Calif.,
Pype's suite of software reduces tedious manual entry and human error that can lead to rework, cost overruns and schedule delays on construction projects. The company's technology leverages artificial intelligence and machine learning to automatically analyze and extract critical construction data such as project plans and specifications to be used throughout the project lifecycle. By automating these traditional manual workflows and converting real-time data into actionable insights, construction teams have the power to increase collaboration and project efficiency. Pype customers include top general contractors such as
Since 2017, Autodesk has invested in nine construction technology startups. The company also acquired Assemble, BuildingConnected and
"I could not be more optimistic about the future of the building industry," said
"We're incredibly proud of the rapid growth Pype has experienced since its founding in 2015," said
"JE Dunn has been a pioneer at incorporating innovation to create and enhance robust digital and automated processes," said
Pype will integrate with Autodesk Construction Cloud for streamlined project management
Autodesk Construction Cloud, which brings together Assemble, BIM 360, BuildingConnected and
Following the acquisition, Autodesk plans to integrate Pype products with Autodesk Construction Cloud. Pype's product suite includes:
- AutoSpecs: Allows construction professionals to generate submittal logs in a matter of minutes
- Closeout: Accelerates the construction closeout process via an easy-to-use, centralized dashboard and automated document collection
- eBinder: Automatically converts hundreds of closeout documents into a fully indexed, hyperlinked and searchable turnover file
- SmartPlans: Extracts submittals, product schedules, and contract compliance requirements from drawings
"Too many critical construction workflows are still performed manually by project teams, leading to inefficiencies and exposing companies to increased risk such as schedule delays and cost overruns," said
"While risk is inherent in the construction business, leveraging artificial intelligence to automate tedious yet consequential data and processes significantly reduces project risk associated with human error," said Karuna Ammireddy, CTO and co-founder of Pype. "Together, Pype's solutions with Autodesk Construction Cloud will enable customers across the industry to mitigate risk during each step of the building process."
Terms and Business Outlook
The transaction is subject to customary closing conditions and is expected to close during Autodesk's third quarter of fiscal 2021, ending
For more background on the acquisition, please see the accompanying PDF here.
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Media Contact: Stacy Doyle, 503-330-6115, Stacy.Doyle@autodesk.com, Investor Relations Contact: Abhey Lamba, 415-547-3502, Abhey.Lamba@autodesk.com