Infobric at a glance
Infobric is a leading provider of software solutions with a mission to create socially sustainable and resource- efficient construction sites with a broad complimentary on-site and off-site offering and a growing European presence. The company offers end-to-end construction, infrastructure, and business services products and processes; access, attendance, time management, machine and energy control solutions, fleet management and telematics. With Infobric’s solutions, customers can optimize workflows, safety, and efficiency, ensure regulatory compliance, and monitor their assets and vehicle fleets.
Key developments in 2020
Infobric is the market leader in Sweden with ~60% share, a top-three player in Norway, and has a growing presence in Finland, Denmark, and the UK. During Summa’s ownership, Infobric has more than doubled revenues through over five acquisitions of software companies and steady double-digit organic software growth, in addition to having established a new management team and significantly broadened its offering. Substantial increase in EBITDA and EBITDA margin is largely driven by the strong growth in software, as Infobric is gradually turning more towards a software company. Infobric launched several new products during 2020, with the most significant release being newly acquired applications through EquipmentLoop, Buildsafe, and HMSReg vendor control.
The challenges we face
The productivity in the construction sector increased by only 2% in the past two decades – or in other words, since 1995 the global average value-added per hour has grown at around a quarter of the rate in manufacturing. No other sector has done worse. Simultaneously, more than one in five fatal accidents at work in the EU took place within the construction sector. There is thus a significant opportunity to improve safety, labor rights and efficiency through digitalization. Infobric is the leading technology platform in the industry, improving the safety and productivity of businesses and employees in the construction, infrastructure, and business services industries.
What is the outcome?
Infobric provides a wide range of software solutions to improve sustainability, efficiency, and safety of the entire construction site value chain, infrastructure, and business services customers. It encompasses access and attendance management, which provides clarity and compliance for the workforce and ensures only the right people have access to sites and tools. The company also monitors customers' vehicle fleets, equipment and CO2 footprint, identifying unsustainable driving patterns and improving efficiency, in addition to providing software to track tools and equipment.
Who are the stakeholders?
Infobric's main markets are currently Sweden and Norway. Infobric has also started to build a presence in Finland, Denmark, and the UK – extending the range of impact to cover all the Nordics. The company's customers benefit from improved workforce (and vehicle) control, cost optimization, and the ability to guarantee the safety of all employees. The employees are not only safer but will also benefit from a more compliant sector with fair and transparent labor compensation. Governments of the markets where Infobric is active also benefit from modern ways to enforce legislation.
How big is the effect, and does it last?
~30k active sites used Infobric solutions in 2020. 100 additional sites were in the largest category (project value above SEK 50m). These sites are operated by more than 9 500 companies, with over 100k system users in admin roles, and 100k connected units. Infobric's mobile solutions have been downloaded by over 300k construction workers, who can use it on different projects and sites.
If Infobric didn’t exist…
There is no alternative to Infobric's solutions at scale. Without Infobric construction sites, it would run the risk of unauthorized access, creating health and safety risks not only for the site employees but for all in the vicinity. Tax avoidance and illegal workforce would be easier to use, harming not only governments but construction workers forced to accept illicit practices and lower wages. Finally, the construction industry would continue to lag other sectors in efficiency improvement, hindering construction and infrastructure activity globally.
Impact risk: what can go wrong?
Infobric manages personal data, and as such data privacy and security are of paramount importance and must be safeguarded. Additionally, illicit use, and/or backsolving the software are unlikely, but potential scenarios to avoid legislative compliance. Finally, if the company experiences technological disruption or superior competing solutions, the current product portfolio may not achieve its full impact. Infobric invests considerable amounts of capital and effort in R&D to counteract all of these areas.