Ann Arbor-based Invicara, a provider of software solutions in the construction industry, today announced it has received a $10-million investment from Kingspan Group in Dublin. With the funds, Invicara will use its cloud-based platform to build a new solution that uses design and construction data to create new digital workflows.
Invicara has developed solutions that integrate with Building Information Modelling (BIM) technology. BIM provides detailed digital representations of buildings, allowing time and cost saving collaborations between partners on construction projects such as architects, engineers, contractors, and owners.
Kingspan’s investment provides it with a minority stake in Invicara, and Louise Foody, Kingspan’s director of digital and brand; and Mike Stenson, head of innovation at Kingspan; will join Invicara’s boards.
“For manufacturers of building systems and solutions, digitalization enabled by technologies like BIM is a game changer,” says Foody. “At Kingspan, we aim to leverage digital technologies to further align our offerings with our customer’s needs and more efficiently collaborate with owners, designers, and contractors at every stage of the building lifecycle.”
Invicara currently provides a cloud-based data management solution that helps owners and their design and construction partners create a data-rich digital twin of a building, leveraging BIM. The first product built on the Invicara platform, called BIM Assure, allows owners to access, validate, and report on model data. The product is currently in use in North America, Ireland, the United Kingdom, Australia, and Singapore.
Invicara is planning to release new capabilities for its platform in the coming months, while company officials say Kingspan’s global presence will provide for expansion opportunities in key market segments such as airports, healthcare, data centers, and retail, among others.
“Our relationship with Kingspan opens a new market opportunity for Invicara and provides us with deep context to build powerful solutions on the Invicara platform, enabling product manufacturers to participate in the digitalization of construction,” says Anand Mecheri, founder and CEO of Invicara. “From the start, Invicara’s vision has been to improve the value derived from BIM for the entire ecosystem of the built environment by providing an efficient flow of reliable data for a wide range of workflows.”