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, has announced that it has raised AU$10m after closing its Series A.
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, 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, says, “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 says, “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.
“We asked CIM to get involved so they could give us the oversight we needed across all sites and assist our team to continually achieve the highest levels of performance, collaboration and site optimisation possible.” said Scott Crellin, National Director, Group Property Operations at The GPT Group.
“Scheduled maintenance is now a thing of the past as the data helps us determine precisely when and where maintenance is needed. We can now actively anticipate and prevent breakdowns which means equipment is more likely to last its specified lifespan and we don’t have to resort to costly fixes or replacements.” said Damien Stacey, National Capital & Planning Manager at QIC.
CIM recently won at the Telstra Business Awards (NSW) for embracing innovation and the sustainability project of the year at the Analytics and AI Awards. It is also listed in the Australian Financial Review’s Fast 100 growth companies and the Financial Times Asia-Pacific High-Growth Companies.
CIM was advised by the Jarden Technology Investment Banking team led by Bryce Thompson and law firm HFW led by Aaron Jordan.
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