BeamUP, which has developed a platform to design and manage building systems, has secured $15m in a seed funding round led by StageOne Ventures and Ibex Investors, as well as prominent investors including Chano Fernandez, CEO of Workday.
BeamUP generates digital models of facilities to reduce system and infrastructure design time and improve management efficiency.
The technology also cuts ongoing operational costs associated with manual processes, errors, rework and reduces the risk of compliance and regulatory breaches.
BeamUP, founded in 2019, employs 36 people out of its R&D center in Tel Aviv and offices in London and California.
Stephane Levy, CEO and Founder of BeamUP: “Buildings and the systems within them are as complex as cities, but the tools to design and manage them have not kept up.
“By introducing intelligence and historic and macro level data into this industry, BeamUP automates manual processes to prevent dangerous compliance breaches and skyrocketing costs for enterprises who manage hundreds, if not thousands, of facilities.”
Nate Meir, partner at StageOne Ventures, said: “Beyond initial design and installation, facilities must be managed, maintained and updated over time.
“Early on, we identified BeamUP as uniquely positioned to tackle both of these problems and it has been great to work with the team as they upgrade a desperately outdated ecosystem.
“BeamUP has demonstrated impressive traction with global customers who are automating these processes to improve operations and significantly cut costs, year over year.”
Gal Gitter, partner at Ibex Investors, added: “Every so often we come across a company that challenges the status quo. AI startups like BeamUP are enabling the $1.1tn commercial real estate industry to apply data to the age-old problem of the management of enterprise facilities which have a significant impact on a company’s bottom line as well as on carbon emissions.”
Main image: Stephane Levy, CEO and Founder of BeamUP (Credit: BeamUP)
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