Software firm closes $1.25M round of funding
Last Updated: 15:57 May 15, 2014
Boulder-based concept3D's main product is CampusBird, part of the company's Atlas map management software platform. CampusBird allows colleges and universities - more than 70 around the country are customers - to create interactive virtual campus tours.
The company is expanding the Atlas platform to industries like commercial and residential real estate, resorts and economic development agencies.
This summer concept3D will launch a pair of apps that are built off of its new simuwatt energy design, modeling and management platform that the company has been developing over the past couple of years in conjunction with the National Renewable Energy Laboratory in Golden.
The simuwatt energy auditor app will allow energy auditors to create 3D models of commercial buildings while conducting their audits and then quickly produce recommendations on how to make the building perform better.
The simuwatt solar app targets commercial solar installation firms and allows sales people, instead of doing eyeball assessments of a building's solar potential, to draw an outline of a space and get a 3D model output that more precisely defines that solar potential. The app speeds up the process for the sales person and creates a file output for SketchUp or AutoCad that can be used during the permitting and design process.
"The last frontier in solar savings is really in those soft costs because the hardware has come down so much," concept3D's founder and chief executive Oliver Davis said.
The new funding round came from 18 individual investors. It is the first outside funding raised by concept3D since a $500,000 round when it was founded in 2006.
Started as a 3-D modeling company, concept3D has evolved into a software and services company. The simuwatt platform and apps were funded by grants from the Department of Defense and the Department of Energy as well as through the company's revenue.
Davis declined to disclose revenue, but he said concept3D is a seven-figure company that he projects will grow 100 percent this year.
Concept3D has 15 employees, having recently hired vice presidents of sales, marketing and product. Davis expects to be at 25 employees by the end of the year, with an emphasis on adding to its sales and marketing teams in addition to development.
"We've done very little marketing over the years, so we're changing that quite a bit," Davis said.
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