BeamUP, Ltd, the AI platform that designs and manages enterprise building systems, launches today with $15 million in seed investment led by StageOne Ventures and Ibex Investors. The round also included participation from prominent angels including Chano Fernandez, CEO of Workday.
Upgrading an outdated ecosystem by challenging the status quo
Buildings, and the systems within them, are as complex as cities. Yet, traditionally, facility design and operation have largely remained manual, generating disparate formats and desktop-bound files which are difficult to store and maintain. This leads to planning errors and discrepancies between design documentation and data with what exists and results in dangerous and expensive compliance issues, outages, and inefficiencies. Commercial facilities’ systems, including security, IT, IoT, electrical and HVAC, account for roughly 40% of a building’s entire construction cost and 40% of the world’s energy consumption. Moreover, low compliance rates with building energy codes result in inefficient, wasteful facilities. Clearly, the tools to design and manage buildings and their systems are not up to par. That is what BeamUP is trying to change.
BeamUP is the first automated design and lifecycle management platform for building systems such as security, IT, IoT and HVAC. It efficiently designs infrastructure, enhances collaboration, and operates smart, safe, and sustainable facilities with the use of AI technology. How it works? By using intelligence, historic, and macro-level data, BeamUP’s AI technology streamlines and unifies the design, maintenance, and operations processes for enterprise real estate; it generates digital models of facilities to reduce system and infrastructure design time from months to days and improve management efficiency by 70%. Furthermore, it automates manual processes to prevent dangerous compliance breaches and costs for enterprises that manage hundreds, if not thousands, of facilities. It thus promotes operational excellence.
By automating processes, BeamUP is improving costs and operations. BeamUP customers can expect initial design and budgeting time to be reduced by 94%, ongoing system changes and refurbishments to be lessened by 98%, and design and compliance errors to be lowered by 82%. Moreover, BeamUP customers reduce rework by 30%, reduce maintenance time by 20% and improve the efficiency of building operations by 12%. Such reductions can greatly impact the company’s bottom line as well as carbon emissions.
BeamUP was founded in 2019 by Stephane Levy, the company's CEO. He is joined by Eli Gorovici (Chief Operating Officer), David Harris (VP Strategic Ops), Becky Garnett (VP Business Development), and Naor Yuval (VP R&D). The company has already started working with several Fortune 100 companies. The capital from the seed investment will be used to grow its sales, marketing, and operational departments to keep up with the company's overall global expansion with leading enterprise organizations.