BeamUP, Ltd, the AI platform that designs and manages enterprise building systems, launches today with a $15M round of seed investment led by Israel-based StageOne Ventures and US-based Ibex Investors, as well as prominent angels including Chano Fernandez, CEO of Workday (NASDAQ: WDAY).
Working with several Fortune 100 companies, BeamUP generates digital models of facilities to reduce system and infrastructure design time from months to days and improves management efficiency by 70%. The technology also cuts ongoing operational costs associated with manual processes, errors, rework and reduces the risk of compliance and regulatory breaches.
Enterprise real estate is a trillion dollar industry. Commercial facilities’ systems - including security, IT, IoT, electrical and HVAC - account for around 40% of a building’s entire construction cost and 40% of the world’s energy consumption. Low compliance rates with building energy codes (less than[ 50% in many jurisdictions](http://bcapcodes.org/compliance-portal/imt-compliance-case-studies/strategies-for-improving-compliance/)) result in inefficient, wasteful facilities.
Traditionally, facility design and operation has largely remained manual, generating disparate formats and desktop-bound files which are difficult to store and maintain. This leads to planning errors and discrepancies between design documentation and data with what exists in reality. The result: dangerous and expensive compliance issues, outages and inefficiencies.
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.”
**BeamUP in Action**
One of the world’s largest companies is working with BeamUP’s cloud based platform for the design and management of hundreds of new international facilities. Previously, this company worked with several external engineering firms. The resulting inconsistency and lack of standardization, disjointed processes, errors and inaccurate data led to project delays, compliance issues and excessive maintenance costs. Working with BeamUP, the customer anticipates the following savings compared to today’s manual engineering and management processes:
- Initial design and budgeting time by 94% (vs the time it takes an engineer to design a system manually using CAD based software and spreadsheets)
- Ongoing system changes and refurbishment time by 98%
- Design and compliance errors by 82%
These projections are based on pilots conducted in the US and EMEA regions over the course of 2020 and 2021.
BeamUP’s $15M seed financing will be used to scale its sales, marketing and operational departments as it rapidly expands globally with leading enterprise organizations.
"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," said Nate Meir, partner at StageOne Ventures. "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, comments: “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.”
BeamUP is now available for Fortune 500 enterprises looking to overhaul the process of designing and maintaining their facilities around the world.
BeamUP, founded in Tel Aviv in 2019, is the world’s first automated design and lifecycle management platform for building systems such as security, IT, IoT and HVAC. Its patented AI technology streamlines and unifies the design, maintenance and operations processes for enterprise real estate, reducing design time from weeks to days and driving operational excellence. The world’s largest companies work with BeamUP’s platform to efficiently design infrastructure, enhance collaboration and operate smart, safe and sustainable facilities. BeamUP’s team of architects, security, IT and other domain experts are based between Tel Aviv, London and California. For more information, visit: [www.beamup.ai](http://www.beamup.ai).
**About Stage One Ventures**
StageOne Ventures has been investing in exceptional entrepreneurs in Israel and abroad for over two decades, helping them build companies from the idea stage, all the way to exit. The fund focuses on early-stage ventures with innovative technologies that solve complex challenges for the enterprise and B2B markets. The vast majority of investments are made at seed-stage during the companies' formation, and include an allocation of significant reserves for follow-on investments.
**About Ibex Investors**
Ibex Investors is a multi-strategy investment firm targeting outsized returns through differentiated global strategies and is passionate about reshaping the investment and investor experience. Entrepreneurs will experience a new type of VC investor in Ibex, one that prioritizes relationship building, shares mutual success in reaching goals, and works in tandem to achieve those goals. Ibex prides itself on finding the hidden gems often overlooked by others. The firm is headquartered in Denver, Colorado with an office in Tel Aviv. For more information, please visit [www.ibexinvestors.com](http://www.ibexinvestors.com/).
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