Gehry Technologies (GT) intends to expand its building information modeling (BIM) consulting services and continue development of its design and project management technology, drawing upon $10 million in Series B financing that the firm recently secured. This round of financing, led by Autodesk with participation from Dassault Systemes and private investors, brings total funding to $15 million.
GT noted that “BIM users are seeing positive payback from their use of the technology, even as the design and construction industry confronts a down economy. Users enhance productivity, improve their ability to integrate teams, and earn an edge on the competition. More specifically, two-thirds of BIM users say they see positive ROI on their overall investment in BIM; 87 percent of expert users are experiencing positive return on investment with BIM; and 93 percent of BIM users believe there is potential to gain more value from BIM in the future.”
Recent GT projects include the Lou Ruvo Brain Institute in Las Vegas, the New World Symphony campus in Miami, and New York’s Alice Tully Hall in the Lincoln Center. In each project, GT said that its technology and approach resulted in more collaborative project development, the delivery of real-time information, and faster time-to-market.
GT Official Provides CPC/BIM Additional Information
In an email interview with Construction Project Controls and BIM Report, GT Chief Executive Officer Dayne Myers provided the following additional details:
CPC/BIM: Your company stated that funding will be used in part to expand your BIM consulting services. What details can you provide about this expansion in terms of the BIM consulting services that currently exist, what specifically will be added, and by when?
Myers: GT originally started out as a BIM consulting firm. In the years since its founding, however, the company has expanded to helping clients throughout the construction process, allowing them to use BIM and other technologies to improve their ability to manage construction data in particular. As a result, GT now works with architects, engineers, PMs and CMs, contractors, subcontractors, and fabricators, helping them improve their processes by making sure the appropriate data generated in the design phase gets to the proper parties in the engineering and construction phases and in the right form. In the future, GT will be expanding these services and also advising more broadly on system integration and technology use in general. The Autodesk investment and partnership allows us to expand our geographic reach and add more expertise in helping with project delivery.
CPC/BIM: Your company has stated that funding also will be used to continue developing design and project management technology. What details can you provide about this technology in terms of what it will do, by when it will be developed and introduced into the marketplace, and how it differs from comparable technology in the marketplace?
Myers: In addition to Digital Projects, GT’s BIM software, the company has developed software collaboration and data management technology that it uses on projects on behalf of our clients. We are now developing commercial versions of some of these technologies with the objective of marketing them to the broader AEC market.
CPC/BIM: Your company provides technology and consulting services worldwide. In which countries/regions of the world does the company serve, and what new areas, if any, will be targeted for expansion? When may this expansion occur?
Myers: We currently have offices in Los Angeles, New York, Paris, Abu Dhabi, four offices in China (Shanghai, Beijing, Hong Kong, Guanghzou), Seoul, Mexico City, and Sydney.
CPC/BIM: How will the company promote its services? What is the company’s promotional budget?
Myers: In the past, GT has relied primarily on its reputation and client relationships as well as speaking at trade shows and conferences to promote its work. The new investment will allow us to expand those efforts, and the company has recruited a new marketing team -- led by Matt Reid, senior vice president of marketing -- to expand its marketing presence.
CPC/BIM: What goals has the company set in terms of number of clients, revenue, etc., and by when?
Myers: Our objective is to grow dramatically, but we prefer not to disclose specifics.