BIM One of Lévis receives $2M in financing from BDC Capital for its BIM Track coordination software
QUEBEC, February 18, 2020—BIM One, a consulting firm with expertise in the building information modeling (BIM) process, recently received non dilutive financing of two million dollars from BDC Capital’s Growth & Transition Capital division. These funds are intended to fuel the company’s growth by accelerating the marketing of its BIM Track coordination software. BIM One, founded in 2014 in Lévis by Jimmy Plante and Carl Veillette, is comprised of two divisions: One for consulting services and the other for software products, both of which have been growing steadily since their inception. BIM Track was launched in late 2016 and quickly found a following in the architectural, engineering and construction sectors around the world.
BIM is a method of working that promotes effective collaboration around a building or infrastructure throughout its lifecycle using an information rich digital model. BIM One’s BIM Track application integrates with the leading BIM and CAD software programs on the market to make it easier for the various participants in construction projects to manage the inevitable questions and problems that arise during the design and construction phases. BIM Track is offered in the form of software as a service (SaaS).
BIM One is one of the first companies in the world to offer such software, and the financing from BDC Capital has been planned to help BIM Track capture market share more quickly. This financing was customized to the specific characteristics of the two divisions of BIM One. It combines a patient mezzanine loan for established companies with a loan specifically designed for technology companies generating recurring monthly revenues, such as those providing software as a service.
“BDC Capital has been an important partner since the very beginning of our company. Their ability to understand our unique business model is impressive and that’s what led us to this tailored financing. This financing is significant for our company and will allow us to continue our technological and commercial progress,” said Jimmy Plante, Co Founder and CEO of BIM One.
This transaction was led by Charles Blouin, Director, Growth & Transition Capital, and information technology specialist in the Quebec office of BDC Capital. “BIM One is positioned at the centre of two major trends: The increased adoption of the BIM method on construction sites and the need to digitize this process to make it more efficient. Drawing on its expertise, the team behind BIM Track has created an innovative IT solution for a market that is expected to grow significantly during the coming years,” stated Mr. Blouin. “BIM One’s young management team inspires confidence through its management excellence, great maturity and strong ambition. In addition, it is strongly supported on the Board of Directors by experienced investors and industry representatives.”
About BIM One
Virtual Construction and Technology BIM One Inc. is a firm specialized in the digitization and optimization of digital processes for the architectural, engineering and construction industry. Composed of a multidisciplinary team of 75 employees based in Lévis, Montreal and the United States, BIM One deploys and sells its BIM Track web platform in more than 35 countries. BIM Track is a web based design and constructability issue management platform that enables teams to improve their workflows for communication and issue management. For more information, visit www.bimone.com and www.bimtrack.co
About BDC Capital
BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital.