Paris, May 12, 2022 - Finalcad, a specialist in software solutions for construction site monitoring in the building, energy and infrastructure sectors, today announced a new round of financing of $10M, bringing the company's total financing to over $73 millions. The financing was led by Cathay Innovation and Molten Ventures (formerly Draper Esprit) with support from Serena, CapHorn, Aster and ADP.
Finalcad: more than 10 years of innovation for the digitalisation of the construction industry
Launched at the end of 2011 by Jimmy Louchart, Joffroy Louchart and David Vauthrin, Finalcad was created with the ambition of helping companies in the construction sector to optimise their operational efficiency using digital tools. To meet this challenge, the company has designed a SaaS construction management platform that digitises data and processes related to construction projects. The solution facilitates collaboration and coordination between the various stakeholders on and off site, thus optimising the quality of the projects delivered. Many players trust Finalcad, including the Eiffage Group, which has just extended for several years the partnership it began in 2017 with the software editor to support the digital transformation of its construction sites.
A fundraising to strengthen investments and accelerate the company's transformation
The fundraising was led by Finalcad's management team, which was recently reinforced by the arrival of Pascal Laik as Chief Executive Officer to support the company's ambitious development plan.
Pascal Laik has been appointed CEO of Finalcad at the end of 2021. He brings to the company more than 30 years of experience gained in numerous senior positions at leading software companies such as Oracle, Siebel Systems, Informatica and C3.AI, whose international growth and development he has supported. His deep experience in the SaaS world, as well as in the management, marketing and implementation of digital transformation platforms acquired in the IoT, Big Data and AI universe are all assets at the service of Finalcad's objectives of operational excellence and sales growth.
With this new financing, Finalcad will reinforce the investments and the transformation started a few years ago, in a spirit of continuity with the historical investors. This round of financing will in particular enable the company to support R&D investments in areas such as safety and the environment on construction sites, as well as the use of data, including the use of Artificial Intelligence, for the benefit of field and management teams. Finally, after having developed its activity in South-East Asia over the last few years, Finalcad will continue its international deployment, in Europe as well as in North Africa.
Pascal Laïk, Finalcad's CEO, is very pleased with this new funding:
We are delighted with this round of financing, our objective is to make available to all construction professionals a unique and customisable collaborative platform that will enable them to digitise each stage of the life of their projects, from the start of the works to their operation, in complete autonomy.
Thanks to this funding, we will strengthen our positioning as a Field Experience Platform - a field-oriented productivity solution - in order to provide a better response to the day-to-day needs of operational teams and, for their management, by facilitating the steering and performance management via the analysis of data from construction sites. This funding will allow us to go even further in this direction, by fully exploiting the potential of BIM data and the capabilities offered by Artificial Intelligence.
Jean-François Cochy, Partner at Cathay Innovation, talks about the fundraising :
Thanks to its modern technology suite and its scalable, user-friendly digital tools, Finalcad is today an undisputed leader in the digitalisation of the construction sector. Finalcad provides solutions that help construction professionals optimise their operations and experience in the field.
DSince our initial investment in 2018, we have supported the strengthening of the team - resulting in the past year in the acquisition of a large Finalcad One user base, while retaining historical customers with renewed contracts. We look forward to supporting the team in this next phase of development and expansion with the strengths of our global platform..
Jonathan Sibilia, Partner at Molten Ventures, emphasises the prospects for construction professionals :
Finalcad provides a solution whose value is now widely proven and recognised. Significant time savings have been reported following feedback from numerous site engineers who have been using the solution for several months: over 28 hours/month for each user! These time savings are already considerable, but there is still a huge amount of value to be gained by taking the analysis of site data a step further. We are convinced that this analysis will be the main driver of the digital transformation of construction companies tomorrow.
Finalcad helps companies in various sectors, including construction, infrastructure and energy, to build and be built by supporting them in safe, profitable and responsible projects. Founded ten years ago by a team of experts with in-depth knowledge of the sector, Finalcad has supported over 24,000 projects in 35 countries with its solutions.
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