Irish-led CIM raises €6.7m in fresh funding

Australian building management firm plans to double headcount and expand to Asia and US

Tipperary man David Walsh is founder and CEO of CIM.

Irish-led Australian software firm CIM has closed a $10m (€6.7m) Series A funding round. 

The firm creates software to manage large buildings at their peak performance reducing its carbon footprint and saving on costs.

CIM has locations in Horgan’s Quay Cork, London, and Sydney. It is the brainchild of Tipperary software engineer David Walsh.

Mr Walsh, who emigrated to Australia in 2009, founded CIM and built its software platform after he identified that building owners were data-rich but information poor, and there was no focus on finding or fixing the root cause of wastage.

Its clients include Charter Hall, Intel, Scentre Group, LendLease, Dell, QIC and The GPT Group.

The new funding round was led by Five V Capital alongside Carthona Capital and comes as the company launches its international expansion plans into Asia and North America. 

CIM also plans to build out their team with a doubling of headcount expected in the next 12 months.

"We have been very fortunate to partner with many innovative and highly collaborative building owners and property management firms across Australia and Europe," Mr Walsh said.

"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.

"It brings us closer to our vision of positively impacting the daily lives of the two million facilities managers currently managing buildings globally.”