Boulder-based software company concept3D Inc. has secured $1.25 million in equity funding, as the company plans its growth with a new software platform and an expanded staff.
The company, which began as a 3-D modeling firm, has evolved to focus its main product, CampusBird, on creating 3-D maps of college campuses, enabling universities and their visitors to take interactive virtual tours. Its newest product, Simuwatt, an energy design, modeling and management platform, will be the engine behind a pair of apps, currently in beta.
The first app, the Simuwatt energy audit app, will be used by energy auditors to create 3-D building models by inputting data directly into a tablet, increasing efficiency and decreasing the cost of the audit. The 3-D model would then be used by the auditors and building owners to identify areas to improve the energy efficiency of the building.
The second is Simuwatt's solar app, which would be used by commercial solar firms to maximize efficiency and energy output from commercial solar arrays.
Both applications are planned to launch later this summer.
CEO and co-founder Oliver Davis said the money raised this round will go straight into creating jobs for Coloradans.
"We currently have 16 employees, and we're planning to have 30 by the end of the year," Davis said. "Most of the new staff will be in web development and sales."
Investors in this round of Series B equity funding include Brad Schell, co-founder of @Last Software which is the developer of the ubiquitous Trimble SketchUp®. Schell, a big name in Colorado's tech scene, heads a list of diverse indivduals who contributed to concept3D. According to Davis, most of the investors this round are individuals without personal interest in the energy industry.
concept3D's plans hinge on the strength of its 3-D mapping platform, Atlas, the Simuwatt energy platform, and integrating the technology into web applications for its clients.
"We consider the future to be heavily based around these platforms," said Davis. "We're growing fast, and we're very excited for the future."