Irish-founded software firm CIM raises millions for international expansion

19 Sep 2022

CIM CEO and founder David Walsh. Image: Alison Miles

The Sydney-headquartered company, which was founded by Irishman David Walsh, is planning to expand into Asia and North America.

Building analytics software company CIM has closed a A$10m Series A funding round to fuel its expansion plans.

The round was led by Five V Capital alongside Carthona Capital. It comes as the Australian company launches its international expansion plans into Asia and North America, and plans to double its staff headcount over the next 12 months.

Sydney-headquartered CIM also has an office in the UK and its European headquarters in Ireland. Last year, the software company shared plans to add a further 85 people to its Irish team over a 36-month period.

CIM creates analytics software for the operation of large buildings. Its Peak platform integrates building intelligence, machine learning and mechanical engineering with the aim of improving efficiency and sustainability across property portfolios.

The company was founded in 2013 by Irishman David Walsh, who emigrated to Australia in 2009. Walsh said he identified that building owners were rich in data but poor when it came to information.

“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,” Walsh said.

“The built environment accounts for approximately 40pc of all carbon emissions globally and our goal is to help the sector reduce more than one gigatonne of emissions.”

Some of CIM’s biggest clients include Charter Hall, Intel, Scentre Group, Lendlease, Dell, QIC and The GPT Group. The software company is also currently partnering with property management giant CBRE in Australia.

“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,” Walsh said.

“It brings us closer to our vision of positively impacting the daily lives of the 2m facilities managers currently managing buildings globally.”

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Leigh Mc Gowran is a journalist with Silicon Republic