More than half a million pounds has been raised by a Hull tech business to help it support companies in meeting new building safety rules in the wake of the Grenfell Tower tragedy.
The team behind Bimsense has secured £575,000 in a latest funding round, as it looks to ensure its innovative solution is embraced as the Building Safety Act is enforced.
The company brought forward software programme Operance - a name under which it trades - which helps property owners deliver the so-called ‘golden thread’ requirement, showing how safety has been considered at every stage of a building’s lifecycle - from design and construction to management.
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Bimsense was founded in 2016 by Ian Yeo and Scott Pilgrim as a consultancy specialising in building information modelling. They developed Operance in 2020 and it has since won multiple industry awards and is now used by well-known industry names such as GallifordTry, REDS10, Algeco, Morrison Construction and RLB.
It was initially supported by the Northern Powerhouse Investment Fund, through Mercia Equity Finance, secured a second tranche earlier this year, and has now been backed again - taking the total beyond £1 milion.
Scott Pilgrim, chief product officer at Bimsense, said: “The new Building Safety Act has introduced the most sweeping reforms in living memory for the construction and residential property sectors. By bringing building intelligence together in one place, Operance can help them meet the challenge. “NPIF and Mercia have backed us from the start and the latest funding will allow us to add new features and provide further support for the property industry.”
He said the latest funding will enable the company to develop new modules to meet other parts of the act – in particular the need to register high-rise residential buildings and produce a safety case report.
It comes as Mercia takes an office in Hull, alongside Bimsense in C4DI.
Maurice Disasi, investment manager at Mercia, said: “The Bimsense team have created the world’s first purpose-built ‘golden thread’ solution and we are pleased to have been able to support them. Operance will play a key role in helping building owners to comply with the rules and creating safer, more efficient buildings for everyone.”
NPIF was set up by the British Business Bank in partnership with 10 local enterprise partnerships.
Phil Glover, business development manager at HEY LEP, said: “We are delighted to see further NPIF funding support for this innovative Hull-based company who are helping the construction industry to reduce carbon emissions and save lives.”
Sean Hutchinson, senior investment manager at British Business Bank, added: “The Northern Powerhouse Investment Fund offers businesses an alternative route to funding and we are proud to have supported Bimsense from the beginning of its journey. The building industry is experiencing substantial change and it is northern companies like Bimsense that are offering advanced digital solutions to help industry leaders navigate through it.”
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