SpiderPlus & Co.
4192・Growth Market・Information & Communication
Business
SPIDER PLUS Co., Ltd. is an ICT-focused company that develops the construction management SaaS "SPIDER+" (SPIDER+ / SPIDER+ Workspace), aimed at improving productivity in the construction industry, as its core service. Its main customers are site supervisors at general contractors and general facilities companies (subcontractors), with adoption progressing primarily at large-scale construction sites. As of the end of December 2025, the number of contracted companies reached 2,251, with ARR reaching ¥4,992,027 thousand. Beyond providing software, the company offers a combined "People x Technology" solution that integrates BPO Service (outsourcing of analog tasks) and Professional Service (customization and consulting), aiming to evolve into a "site infrastructure company." The company listed on the Tokyo Stock Exchange Growth Market in 2021.
Business Model
The main revenue source is stock-type recurring revenue (ARR) from SPIDER+ monthly license fees, with ARR standing at ¥4,992,027 thousand as of the end of December 2025. In addition, the structure improves average revenue per account (ARPA) through cross-selling of BPO Service (outsourcing of non-core on-site tasks) and Professional Service (core system integration and custom feature development). ARPA as of the end of December 2025 was ¥184 thousand (up 3.6% year on year). Adoption by major general contractors and subcontractors also contributes to revenue expansion through a network effect that promotes spillover to mid-tier and small-to-medium partner companies within the supply chain.
Company Strengths
Leveraging deep domain knowledge gained through founding experience in the construction industry, the company has built extensive adoption track records among leading general contractors (zenecon) and subcontractors (subcon) that drive the industry. The number of contracted companies as of end-December 2025 stood at 2,251 (up 6.3% year-on-year). The network effect, whereby adoption by major companies spurs adoption among mid-tier and small-to-medium partner companies within the supply chain, is contributing to efficient expansion of the customer base.
By combining construction management SaaS with a BPO Service that handles analog tasks on behalf of customers and a Professional Service responsible for core system integration and custom feature development, the company deeply embeds itself into customers' business processes. This has simultaneously achieved a reduction in churn rate and an increase in ARPA, with ARPA reaching ¥184 thousand as of end-December 2025 (up 22.7% versus 2021).
After roughly four years of upfront investment, operating loss for FY2025 (ending December 2025) was ¥10,899 thousand, a significant improvement from the previous period's loss of ¥519,192 thousand, while net loss for the period also narrowed to ¥17,357 thousand. The company holds cash and cash equivalents of ¥2,477,419 thousand, maintaining a framework that allows it to continue growth investments while preserving financial stability.
ENVALITH's Perspective
Performance Trend
Revenue continued to grow at a high rate, rising 20.2% year-on-year from ¥4,072 million in FY2024 (ended December 2024) to ¥4,896 million in FY2025 (ended December 2025). Meanwhile, operating loss narrowed sharply from ¥519 million in FY2024 (ended December 2024) to ¥11 million in FY2025 (ended December 2025), and net loss also improved from ¥772 million to ¥17 million. All key KPIs improved: ARR reached ¥4,992 million (up 10.2% year-on-year), the number of contracted companies reached 2,251 (up 6.3%), and ARPA reached ¥184 thousand (up 3.6%). Operating cash flow also turned positive at ¥78,890 thousand, and these figures confirm the transition from a phase of upfront investment to one that balances growth and profitability.
Growth Strategy
Evolving from a SaaS company into an 'infrastructure company' for construction sites, simultaneously pursuing domestic market share expansion and overseas development
Evolving the conventional construction management SaaS into an integrated on-site management platform, 'SPIDER+ Workspace,' the company aims to transform into an 'on-site infrastructure company' that comprehensively resolves all challenges faced at construction sites. The medium-term product roadmap, the 'Workspace Vision,' was announced in July 2025.
Strengthening cross-selling between the BPO Service, which handles non-core on-site tasks, and the Professional Service, which addresses company-specific needs, to continuously improve the value provided per client (ARPA).
In addition to the in-house sales organization, the company aims to expand its share of the construction DX market by strengthening collaboration with sales partners. Expanding the customer success framework will build up utilization track records among existing customers, further solidifying the customer base.
Advancing product and service development by combining the vast amount of on-site data collected by the sales, support, and customer success departments with the latest technologies such as AI. The company is also focusing on organizational development so that all employees utilize AI, achieving both improved internal productivity and cost efficiency.
In March 2024, the company established a wholly owned subsidiary, SpiderPlus Vietnam, Co., Ltd., in Hanoi, Vietnam. By applying its expertise to challenges common to construction sites both domestically and internationally, the company aims to achieve sustainable expansion of its business domain going forward.
Last updated: April 27, 2026