CIM, the Irish-led 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 closed an AU$10 million Series A funding round. Led by Five V Capital alongside Carthona Capital, the funding comes as the company launches its international expansion plans into Asia and North America, in addition to building out their team with a doubling of headcount expected in the next 12 months.
CIM, with locations in Horgan’s Quay Cork, London and Sydney, is the brainchild of Irish software engineer David Walsh. Walsh, who emigrated to Australia in 2009, founded CIM and built its world-leading property operations platform after he identified that building owners were data-rich but information poor, and there was no focus on finding or fixing the root cause of wastage.
The resulting PEAK Platform empowers property operation teams to work smarter – generating significant operational efficiencies including improved financial performance, reduced climate impact and superior customer experience.
David Walsh, Founder and CEO at CIM, commented,
“CIM makes it easy for operation teams to manage large buildings at their peak performance and deliver significant economic and environmental benefits for building owners, operators, tenants and wider society. 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.”
Ed Bigazzi, Venture Capital Lead at Five V Capital commented,
“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.”
CIM has 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.
Mr Walsh concluded,
“We have been very fortunate to partner with many innovative and highly collaborative building owners and property management firms across Australia and Europe. It’s been a long road from my roots in Tipperary to building CIM into the position we enjoy today, and I’m excited to initiate the next stage of our growth by expanding into Asia and North America.
It brings us closer to our vision of positively impacting the daily lives of the two million facilities managers currently managing buildings globally.”
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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