An incorporated VC in the Sultanate of Oman, Pioneer Investors International LLC, signed a new deal with a Canadian project management Startup (RUBECT) through it’s local branch in Canada. RUBECT as a hybrid project management software empowers organizations and project stakeholders to manage and monitor their different projects in alignment with their strategies, regardless of projects’ type and size.
The Project Management Software market was valued at USD 5.37 billion in 2020 and is expected to reach USD 9.81 billion by 2026 and grow at a CAGR of 10.67% over the forecast period (2021 – 2026). As today’s corporations increase in size and complexity, an all-inclusive solution is needed to manage and coordinate an entire organization’s portfolio of different projects. These solutions help the management to shuffle between plans, workload, budgets, and resources, carefully observe the project progress and report on delivery success.
Project management software (PMS) has now evolved into a strategic function of today’s business due to the accelerating pace, technological advancements as well as digital transformation and disruption happening across almost every industry.
There are some factors that expect to enhance the growth of the Project Management Software (PMS) systems market such as increasing usage of software to manage resources, rising demand for a software that will minimize the risks, costs, budget and shuffle plans, help to access real-time dashboard anywhere and anytime. On the other hand, the increasing sophistication and rising capabilities such as reminders and setting due dates are also anticipated to provide further impetus to the growth of the market during the forecast period.
With the COVID-19 pandemic expanding all around the world, project management software is likely to provide a 360-degree view of analysis in terms of import and fare control, flexibility chain, provincial government strategy, future impact on the business, among others. Hence, the reliance on such digital solutions has greatly increased and is anticipated to witness no retreat even in the post-pandemic era.
Pioneer Investors seeks, through this deal, opportunities to open the floor for talents in the Project Management Software to exchange experiences and know-how with Middle-East startups in this emerging trend.
It is noteworthy that Pioneer Investors invests in several startup companies and various fields, including but not limited to the Internet of Things (IoT), educational technology (ED-TECH), and health technology (HEALTH-TECH).