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SYDNEY, AUSTRALIA, 26th September 2022: 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, plans to rapidly expand into Asia and North America following the completion of a Series A and an additional secondary round.
CIM today announced that it has completed a secondary transaction of $6.6 million following the successful closure of its $10 million Series A earlier this month. The secondary transaction was led by Investible and Fifth Estate Asset Management and also included notable investors who also participated in the Series A, such as ANB Investment, Frazis Venture Fund and Infratech Growth Partners.
David Walsh, Founder and CEO, says, “I’m delighted to welcome an additional set of investors to CIM that share our passion for reducing climate impact and want to help build a software business that can make a significant impact in the long term. I’m excited to take CIM to Asia and North America - our research indicates there are over fifty thousand buildings in the US alone that could materially benefit from using software such as our PEAK Platform.”
Tom Kline, Investible Co-Head of Climate Tech said “We were blown away by the ability of CIM's platform to significantly reduce building energy usage, one of the largest contributors to global emissions. The emissions savings are already meaningful but as the platform scales internationally the climate impact is enormous. Add to that David's ability to attract both top talent and leading property groups as customers, we believe CIM's future is very bright.”
Nicolas Tabardel, Investment Manager at ANB Investment said “We are delighted to join CIM on its mission to make buildings more comfortable and energy efficient. By scaling up its technology, CIM will allow property owners to save money, use resources more efficiently, and reduce their footprint.”
Matthew Morgan, Infratech Growth Partners Managing Director said "We are proud to support a truly innovative company in CIM as they enter the next phase of their growth. With a market-leading technology, we see the opportunity that it presents to disrupt the property industry globally. The proposition is a highly attractive one for property owners and operators - the platform reduces operational expenditure and defers cap ex by enhancing operational efficiency, improving sustainability performance and facilitating a collaborative workflow."
"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.
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About CIM
CIM creates innovative building analytics software that helps run large buildings at their peak performance. The award-winning PEAK platform integrates building intelligence, machine learning and technical engineering support to improve efficiency, sustainability and comfort across property portfolios. CIM’s customers include large real estate investment trusts, high tech manufacturers, major cultural institutions, airports and property management firms in Australia and Europe. For more information, please visit www.cim.io
Media Enquiries
For more information or to arrange interviews, please contact CIM's APAC Content Manager Chris Joannides on 0431 968 136 or chris.joannides@cim.io
Photo by Peter Nguyen on Unsplash