Aconex
Encyclopedia
Aconex is a privately held Australia
n company providing web-based electronic construction collaboration technologies
(also sometimes described as project management
or project extranet
systems), on a Software as a service
basis, to customers in the engineering, natural resources, construction
and property sectors. With over 300 employees worldwide, global revenues of $Au40m and offices in 43 locations, Aconex is the largest provider solely dedicated to construction collaboration technologies.
By late 2004, Aconex had established a presence in the UK
market, and was expanding into other regions including south-east Asia and the Middle East. Its overseas activity helped it win the 'Emerging Exporter' award in the 2006 Australian Export Awards.
In September 2008, Aconex secured a AU$107.5m private equity investment from US-based technology investor Francisco Partners
. It has since established a substantial presence in north America.
In 2011, Martin Hosking
stepped down as Aconex chairman after becoming embroiled in a controversy concerning another company he founded (RedBubble). He was replaced as chairman by Simon Yencken.
In 2011, the company launched an online bidding network, branded BidConTender.
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
n company providing web-based electronic construction collaboration technologies
Construction collaboration technology
Construction collaboration technology refers to software applications used to enable effective sharing of project-related information between geographically dispersed members of a construction project team, often through use of a web-based Software as a service platform.-History:The terms...
(also sometimes described as project management
Project management
Project management is the discipline of planning, organizing, securing, and managing resources to achieve specific goals. A project is a temporary endeavor with a defined beginning and end , undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value...
or project extranet
Extranet
An extranet is a computer network that allows controlled access from the outside, for specific business or educational purposes. An extranet can be viewed as an extension of a company's intranet that is extended to users outside the company, usually partners, vendors, and suppliers...
systems), on a Software as a service
Software as a Service
Software as a service , sometimes referred to as "on-demand software," is a software delivery model in which software and its associated data are hosted centrally and are typically accessed by users using a thin client, normally using a web browser over the Internet.SaaS has become a common...
basis, to customers in the engineering, natural resources, construction
Construction
In the fields of architecture and civil engineering, construction is a process that consists of the building or assembling of infrastructure. Far from being a single activity, large scale construction is a feat of human multitasking...
and property sectors. With over 300 employees worldwide, global revenues of $Au40m and offices in 43 locations, Aconex is the largest provider solely dedicated to construction collaboration technologies.
History
Aconex was founded in 2000 by Leigh Jasper and Robert Phillpot to offer construction collaboration and procurement management services (its name is a concatenation of Australian Construction Exchange). However, due to low market interest in web-based procurement, it focused on expanding its online collaboration services, growing domestic revenues rapidly during the first half of the 2000sBy late 2004, Aconex had established a presence in the UK
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
market, and was expanding into other regions including south-east Asia and the Middle East. Its overseas activity helped it win the 'Emerging Exporter' award in the 2006 Australian Export Awards.
In September 2008, Aconex secured a AU$107.5m private equity investment from US-based technology investor Francisco Partners
Francisco Partners
Francisco Partners is a private equity firm focusing on structured investments in the information technology sector.Francisco Partners Management LLC was founded in August 1999 and is headquartered in San Francisco and maintains an additional office in London, United Kingdom...
. It has since established a substantial presence in north America.
In 2011, Martin Hosking
Martin Hosking
Martin Hosking was born in 1960 and lives in the Dandenongs, Australia. He is a co-founder of RedBubble and former chairman of Aconex. He has lectured at the Melbourne Business School and been recognized as one of Australia's leading Web 2.0 Entrepreneurs....
stepped down as Aconex chairman after becoming embroiled in a controversy concerning another company he founded (RedBubble). He was replaced as chairman by Simon Yencken.
Products / services
Aconex's core services include:- Document management (managing drawings, models, contracts, reports, schedules and other documentation online)
- Project communication (correspondence management, audit trail)
- Process management (management of bids, tenders, requests for information and other standard industry processes)
In 2011, the company launched an online bidding network, branded BidConTender.