WIZZCAD, the leading provider of SaaS BIM-native solutions for building, refurbishing and maintaining structures, announced that it has completed its first round of funding of €5 million from German and British investors, with Berlin-based VC, Join Capital, as Lead Investor. This funding will allow WIZZCAD to continue its expansion into the French market and launch its international development strategy.
WIZZCAD at the centre of digital transformation in the construction sector
The construction industry is undergoing a revolution as it adopts digital models around the world and is poised to realise its first significant productivity gains in 20 years. WIZZCAD is at the centre of this transformation, thanks to its next-generation SaaS collaborative platform that allows all business processes to be digitalised, from design to operation, and whose technological superiority is now recognized by all the major names in the industry.
BIM and AI are driving forces behind the buildings of tomorrow WIZZCAD is the only collaborative platform that links project data from the design to the operations of the asset through Building Information Modelling (BIM), thus creating a "digital twin" that can also be leveraged. The data is enriched and used all along the lifecycle of the building. This data becomes a tangible digital asset that companies can create, manage and utilise at any time. The digital twin is the central tool to support the emergence of smart buildings and improve the quality, safety and sustainable operation of these buildings.
A SaaS platform adopted by construction and real estate majors
WIZZCAD solutions have already convinced many key players, including Vinci, Bouygues Construction, Eiffage, Engie, Cegelec, Colas, GTM Bâtiment, and Gecina. The platform has been used in over 10,000 projects. In 2018, WIZZCAD expanded internationally by opening an office in London to tap into the fast-growing British construction market, where BIM has been widely adopted.
A round of funding to accelerate gains of international market share
Today, WIZZCAD aims to go several steps further. The company is now mature enough to win increasingly ambitious projects and thus accelerate its international expansion strategy. To fund its ambitions, WIZZCAD raised €5 million from German and British investors who can provide the resources and networks required to carry out this strategy. For this fundraising round, WIZZCAD was advised by New End Associates (London).
Commenting on this transaction, Sebastian von Ribbentrop, CEO of JOIN Capital and Lead Investor, said, "WIZZCAD is not only a pioneer in the digital transformation of an underdigitalised industry worth more than €10 trillion, but it is the creator of a remarkably intelligent BIM-native platform that facilitates collaborative work and interactions among all stakeholders throughout the value chain. In addition, the WIZZCAD team is made up of
visionary professionals, which is what truly convinced us of the company's potential."
Cyril Perrin, co-founder and CEO of WIZZCAD, commented, "Our investor's confidence in us will help us move forward and strengthen our determination to turn our recognised technological leadership into commercial success on a European scale. We have everything we need to accelerate the transformation of an industry that needs to become more efficient, especially as it lies at the crossroads of today's greatest challenges – particularly those related to energy efficiency."
WIZZCAD supports construction stakeholders in their digital transformation by helping them build quality projects, safely, on time and on budget. Continuous innovation and in-depth expertise in the construction industry have enabled WIZZCAD to become one of the leading players by offering the most complete SaaS solution on the market. From design to operation, the WIZZCAD solution allows project data to be defined and linked so that companies can extract predictive forecasting. BIM (building information modelling) is a major strategic focus for WIZZCAD, which offers its solutions to meet the new uses and challenges of smart buildings.
More than a virtual representation of the infrastructure, WIZZCAD delivers an exact digital twin that will be leveraged in sync with the actual infrastructure. WIZZCAD solutions have already been adopted by many customers, including Vinci, Bouygues Construction, Eiffage, Engie, Cegelec, Colas, GTM Batiment, and Gecina, on more than 10,000 projects in France and abroad.