World-leading building operations solution CIM raises $10 million in Series A funding
CIM, the creator of a world-leading property operations software solution that enables teams to work more collaboratively and accelerates the journey to net zero emissions, have announced that it has raised A$10 million after closing its Series A funding round.
The round was led by Five V Capital alongside Carthona Capital and also included seasoned property executives such as Mark Steinert, former CEO of Stockland. The new capital will be used to expand CIM internationally into Asia and North America, in addition to building out the team with a doubling of headcount expected in the next 12 months.
CIM is a fast growing Australian technology company that empowers property operation teams to work smarter – generating significant operational efficiencies including improved financial performance, reduced climate impact and superior customer experience. Headquartered in Sydney, CIM also has established operations in Europe with landmark clients globally including Charter Hall, Intel, Scentre Group, Lendlease, Dell, QIC and The GPT Group. They are also currently partnering with CBRE, Australia’s largest property management company.
David Walsh, Founder and CEO of CIM said, “The built environment accounts for approximately 40% of all carbon emissions globally and our goal is to help the sector reduce more than one gigatonne of emissions. I’m excited to initiate the next stage of our growth by expanding into Asia and North America and getting closer to our vision of positively impacting the daily lives of the two million facilities managers currently managing buildings globally.”
Ed Bigazzi, from Five V Capital said, “CIM is unique in that it solves three problems at once. First, it reduces the carbon footprint for a building which moves us towards net-zero and makes the building more valuable. Second, it saves the building owner running costs and improves the bottom line. And third, it closes the loop between detecting a fault and fixing a fault through smart workflow. We see a significant global market opportunity, and we are still in the very early innings.”