The AECO industry is grappling with significant labor shortages and rising data complexities. These factors are resulting in escalating labor costs and project delays. Newforma is purpose-built to tackle these real challenges, empowering teams to work more efficiently and stay connected. It stands out as the only platform that unifies cloud-based collaboration, intuitive navigation, and rapid onboarding—delivering a seamless experience where teams can find, share, and manage project information without barriers.
Newforma’s innovative solutions, shaped by thousands of user insights, capture corporate memory, facilitate seamless knowledge transfer, ensure clarity, enable effective collaboration, and offer quality assurance. All these lead to improvements in productivity and profitability in the AECO industry.
With a new leader at the helm, Newforma is poised to accelerate innovation and expand its global footprint. Peter Cannone, who began his tenure as the CEO in April 2025, has already set in motion an ambitious vision for the company’s near- and long-term future. “My vision is to make Newforma the heartbeat of project and information management for the AECO industry — modern, intuitive, and indispensable,” he says.
Addressing Issues Head-On
Newforma’s latest research report notes that about 77% of AECO firms miss deadlines due to poor project information management and disconnected communication. “Newforma addresses this head-on by centralizing all project conversations, files, and tasks in the cloud,” Peter says. Its platform eliminates silos, streamlines workflows, and ensures everyone has the right information at the right time. There is not much manual effort required. In addition to that, onboarding is fast, and even as the team changes or grows, critical knowledge is never lost.
“We empower organizations to preserve expertise, optimize resources, and deliver projects with confidence,” Peter says. “And when it comes to risk, we go a step further.” Newforma creates a comprehensive, auditable record of every decision, document, and conversation throughout a project’s lifecycle. Peter explains that this golden thread acts as a shield. Along with transparency, it ensures accountability and proactive risk management.
One of their customers shares that before Newforma, they were always involved in litigation at the end of projects. But, since adopting Newforma, they have not been in court once. That is the power of having a complete project record, clear accountability, and true collaboration, Peter says. Newforma allows firms to completely focus on delivering successful projects and not get distracted by legal disputes.
“With Newforma, you’re not just managing information,” Peter says. “You’re safeguarding your business and redefining what is possible for your teams.”
Listening to Clients
“Customer feedback is at the heart of everything we do,” Peter says. “Our ideas portal is a buzz with activity.”
One reason why Newforma is successful is because it listens to its clients. The company has several advisory groups in the different segments it operates in. The Product Advisory Board is filled with representatives from some of the world’s most influential and successful architecture and engineering companies.
Peter says that their product teams are always talking to clients, understanding what matters in their workflow, what they are thinking about, and what they need. He highlights that they build their roadmap based on what their clients tell them. This ensures that they are focusing on the top priorities, not doing 20 not-so-useful things. “We pick two or three things that we think are going to be important, which are needle movers for our clients and for the company,” Peter says. “Those are the things we are working on now.”
AI adoption is accelerating across sectors. Based on his previous experience of leading a data company, Peter explains that clients are more interested in outcomes and not in how AI works and what companies are doing to make data smarter. “They just want to know you’re using AI tools or AI algorithms to drive better outcomes for them,” he adds. Newforma is currently focused on critical AI investments. The plan is to make Newforma Konekt, the information management platform, much more robust over the next two to five years.
According to Peter, they are trying to stay ahead of their clients by determining what they are going to need to succeed in the market that is rapidly evolving due to AI, data, and labor shortages. “We are working thoughtfully on new product features that will be critical to them in the next two years,” he says.
“Our mission,” he adds, “is to ensure Newforma always feels instantly familiar and genuinely solves the challenges our clients face. Reconnect. Reimagine. Rediscover — this is our approach to innovation.”
Factors Driving Newforma’s Growth
Newforma’s cloud-native platform has been foundational to its growth and innovation journey. It has allowed the company to deliver faster updates, deeper integrations, and a modern user experience. “We’ve prioritized partnerships and interoperability. Newforma integrates effortlessly with industry-leading tools like Outlook, Teams, Revit, AutoCAD, Procore, and SharePoint, so your team can work efficiently without missing a beat—whether in the office or in the field with our mobile app. This ensures our customers can work how they want to as Newforma fits perfectly into our clients’ existing ecosystems,” Peter says. The company’s focus on customer-driven innovation also keeps it ahead of the curve.
Newforma built Newforma Konekt on top of the engine that was BIM Track. It was cloud-first and web-based, and BIM Track itself is now an important module of Newforma Konekt, which is a platform for project and information management beyond BIM. “The product’s modern, intuitive interface is a point of pride for our whole team,” Peter says. “Customers rave about how easy and useful it is from the moment they start using it.”
Also, security and trust are non-negotiable for Newforma, which is SOC 2 and ISO 27001 certified. The company is also actively pursuing FedRAMP authorization to meet the highest standards for data security and privacy. According to Peter, they use secure, geographically diverse data centers and maintain rigorous change management and audit processes. “Our clients can rest easy knowing their sensitive project information is protected,” he adds.
The CEO’s Diary
In December 2024, Peter sold his last company, DemandScience, to private equity. Following that, he began contemplating his next move, whether he should keep going or take a break. During that time, he received a call from Newforma. When he looked into the company and what it was doing, he realized it could prove to be “something very special.” What stood out to him was that Newforma was already a well-established entity in the AECO space, and with a different value proposition.
“What drew me to Newforma was its legacy of trust in the AECO industry and its untapped potential to lead the next era of project and information management,” Peter says.
He was also noted the commitment of investors, private equity partners, and employees to the company’s transformation and to addressing disruption in the ever-changing market of the AECO industry.
In this sector, Peter notes, digital technology is driving significant changes in areas such as data, data security, and how communication happens via email. “So, it was ready for an innovative information management platform, which could be lucrative, helpful, and different,” he adds. When he looked at what Newforma had developed, where they were, and the investments made in its platform, along with the size of the Total Addressable Market (TAM), he thought, “This is really a unique opportunity.”
Additionally, the people of the company left a great impression on him, says Peter. He felt it would be fun working with them. “And whenever I get a chance to disrupt or transform a market, I always sign up for it,” he adds. Peter is currently steering Newforma toward its next phase of growth and success.
The hallmarks of his leadership are transparency, empowerment, and relentless customer focus. “Great leadership means setting a clear vision, building trust, and enabling teams to move quickly and confidently,” he says. Peter values open communication, and he has adopted a data-driven approach to decision-making. And he is known for his willingness to adapt as the market evolves. “There’s no time to waste, as we’re in growth mode,” Peter points out. “This is the New Newforma and making that vision clear to all Newformers is essential for our exponential growth.”
In his role as the CEO, he sees himself as a “conductor of an orchestra.” He makes sure that everyone on his team has what they need so that they can effectively execute. “When you do that and things work, you get a growing business,” Peter points out.
“A leader who leads” is how he describes his leadership style. He not only listens to his team members and ensures they have every resource needed to succeed, but also removes roadblocks that may hinder their progress and growth. And, at the same time, he holds everyone accountable and expects them to give their best.
Peter feels a sense of pride seeing some of the people he has developed go on to become CEOs, CFOs, CMOs, and CROs at other companies. For him, this is the greatest achievement of his career. “I’m happy when people get something out of their time working with me,” Peter points out.
To those who are aspiring to step into leadership roles, he says, “Stay relentlessly curious. Listen to your customers and your teams.” He also encourages them to embrace change and challenge their own assumptions, or “the sacred cows” in their companies. “And, always remember that the best solutions are the ones that make life easier for your users,” he adds.
Growth Under New Leader
Peter joined Newforma in April 2025. So, it is too early to measure the company’s growth under his leadership. But the changes underway are already visible and will soon become even more apparent. Peter is building upon the solid foundation of work that has already been done.
Before he arrived to take over as the CEO, there had already been substantial investment made in the Newforma Konekt platform. According to Peter, enough groundwork was also laid for a new narrative, new proposition, and new differentiation in the market. “Things were moving along in a very good direction,” he adds.
However, Peter believes that they are at an inflection point. They now have to reestablish themselves in the market not based on what they were, but on where they are as today’s innovative leader. Recently, they launched Info Track, a new “must-have” module for Newforma Konekt. With Info Track, they are inviting the industry to reconnect with Newforma and redefine what is possible. “We are making our statement,” Peter says.
As the CEO, Peter wants to build on Newforma’s more than 20-year foundation of empowering architects, engineers, and contractors. He intends to accelerate their transformation as well. Describing Newforma, he says that it is a modern, intuitive, and cloud-native platform, built on decades of industry and client insights so every project team can work smarter, faster, and more collaboratively.
“Since joining, I’ve focused on reconnecting with our users, reimagining our solutions, and ensuring everyone understands just how intuitive and easy to use Newforma is,” Peter says. He points out that Info Track is a “perfect example of the New Newforma in action.” It is the only solution of its kind for AECO teams.
Roadmap for the Future
Peter is looking forward to executing the new go-to-market and the new Newforma Konekt information management strategies. He wants to make sure they deliver on that, expand their global footprint, sell, and spread the word about their offerings.
“We believe there is a tremendous opportunity over the next 12 to 18 months to deliver the continued innovation that we have,” Peter says. They have several new products lined up for launch, in addition to enhancements to their platform. The development of AI is a major priority for the company, and it intends to focus on it over the coming 12 months.
Newforma’s survey found that about 96% of AECO professionals plan to tap into AI to improve productivity. “Our AI roadmap is very exciting, and I look forward to sharing more as we launch new AI-powered workflows and tools,” Peter says. “Many of these have been developed thanks to direct customer feedback.” They are investing heavily in automation and AI-driven analytics to help teams work smarter, not harder. Peter says that from automating submittals and RFIs to providing predictive insights on project risks, their goal is to “eliminate busywork and surface the information that matters most.”
And Peter and his team plan to continue being a mindful, thoughtful, and a well-run operator. “We want to be an operational company where people are excited to come and work,” Peter points out.
The ultimate vision of Newforma is for the market to understand that Newforma is a must-have platform, not a nice-to-have. Peter says that the AECO industry leaders are already on board because they see tremendous value: litigation protection, the golden thread of information, corporate memory, knowledge transfer, quality control, and enhanced reputation.
“The cost of doing nothing is too high,” he says. “The ROI of Newforma is clear, and we invite anyone with doubts to let us show them a bespoke ROI analysis with their own data.” Under his leadership, Newforma will continue to scale innovation by staying close to its users and investing in emerging technologies. Peter says, “We will never lose sight of what makes us unique: making work easier, faster, and more rewarding for every project team.”
“If you haven’t seen Newforma lately, you haven’t seen what’s possible,” he adds.
