CIM, a Sydney-based company specializing in property operations software, has raised over $100 million in a recent funding round led by Five V Capital, Carthona Capital, and property executives such as Mark Steinert, former CEO of Stockland. This injection of funds will enable CIM to expand its presence globally, particularly in Asia and North America, and to double its team size over the next year.
CIM’s software facilitates collaborative working practices among property teams, helping businesses to improve financial performance and reduce their carbon footprint. The company’s European operations and impressive client list, which includes Charter Hall, Intel, Scentre Group, Lendlease, Dell, QIC, and The GPT Group, demonstrate the effectiveness of CIM’s technology. Furthermore, CBRE, Australia’s leading property management company, has recently signed on with CIM.
Scott Crellin, National Director of Operations for GPT Group Property, has revealed that CIM has been enlisted to provide oversight across all sites, helping the company to achieve the highest levels of performance, collaboration and site optimisation. The platform integrates building intelligence, machine learning and technical engineering support to improve efficiency, sustainability and comfort across property portfolios.
QIC’s National Capital & Planning Manager, Damien Stacey, has praised the data provided by CIM, saying it enables them to determine precisely when and where maintenance is needed, eliminating the need for scheduled maintenance. CIM Founder and CEO, David Walsh, aims to help the sector reduce more than one gigatonne of emissions, accounting for around 40% of all carbon emissions globally.
Five V Capital’s Ed Bigazzi sees CIM as a solution that solves three problems at once: reducing the carbon footprint of a building, saving the building owner running costs and improving the bottom line, and closing the loop between detecting and fixing faults through smart workflow. Bigazzi sees significant global market opportunities, and the company is still in the very early innings of its growth. Walsh is excited to expand into Asia and North America, getting closer to the company’s vision of positively impacting the daily lives of the two million facilities managers currently managing buildings worldwide.
