Hull property Tech firm raises further £575k for ‘golden thread’ software

A Hull property technology business whose software helps companies to meet building safety rules has raised a further £575,000 from NPIF – Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund.
Michael Crossland
By Michael Crossland
Published 29th Dec 2022, 11:45 BST

The latest funding round for Bimsense follows the introduction earlier this year of the Building Safety Act, which is designed to improve standards in the wake of the Grenfell Tower fire.

Bimsense’s software Operance helps building owners meet the so-called ‘golden thread’ requirement and show that safety has been considered at every stage of a building’s lifecycle, from design and construction to management.

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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.

Tim Mutlow and Ian Yeo of Bimsense with Will Clark and Maurice Disasi of Mercia. Pictue by Shaun Flannery.Tim Mutlow and Ian Yeo of Bimsense with Will Clark and Maurice Disasi of Mercia. Pictue by Shaun Flannery.
Tim Mutlow and Ian Yeo of Bimsense with Will Clark and Maurice Disasi of Mercia. Pictue by Shaun Flannery.

"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.”

The company hope the latest funding will enable them 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.

Bimsense was founded in 2016 by Ian Yeo and Scott Pilgrim as a consultancy specialising in building information modelling.

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It developed Operance in 2020 with the help of an initial investment from NPIF – Mercia Equity Finance.

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.”

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Related topics:HullGrenfell Tower