Gehry Technologies Raises $10M; Autodesk Leads Round

LOS ANGELES, CA -- (MARKET WIRE) -- Dec 06, 2011 -- Gehry Technologies (GT), a global leader in applying technology to building industry challenges, has secured $10 million in Series B financing, bringing its total funding to $15 million. The round was led by Autodesk with participation from Dassault Systemes and private investors. The additional funding will further expand GT's BIM consulting services as well as continued development of its design and project management technology

"Autodesk supports our vision to use Building Information Modeling-based technology to improve efficiency and reduce waste in design and construction processes in order to help our clients achieve better ROI," said Dayne Myers, CEO of Gehry Technologies. "This funding will enable us to aggressively pursue and achieve this vision through further innovations and expansion."

Gehry Technologies (GT) provides design and project management technology and consulting services to leading owners, developers, architects, engineers, general contractors, fabricators, and other building industry professionals worldwide. GT solutions increase creativity and control; reduce project risks, costs, and completion times; and improve processes and decisions through collaboration, project visibility and information access.

"Autodesk believes that adoption and improvement of BIM processes is essential for the AEC industry to realize the full value of BIM," said Jim Lynch, vice president, Architecture, Engineering and Construction Solutions, Autodesk. "Given that GT is a leader in driving such process changes, we see this investment, which we announced last month as part of our strategic relationship with Gehry Technologies, as furthering the shared vision of improving the industry's use of and returns from technology."

According to McGraw-Hill Construction research, BIM users are seeing positive payback from their use of the technology, even as the design and construction industry confronts a down economy. Users enhance productivity, improve their ability to integrate teams and earn an edge on the competition. More specifically:

  • Two-thirds of BIM users say they see positive ROI on their overall investment in BIM.
  • 87% of expert users are experiencing positive ROI with BIM.
  • 93% of BIM users believe there is potential to gain more value from BIM in the future.

Recent GT projects include the Lou Ruvo Brain Institute in Las Vegas, the New World Symphony campus in Miami and New York's Alice Tully Hall in the Lincoln Center. In each project, GT's technology and approach resulted in more collaborative project development, the delivery of real-time information and faster time-to-market.

This news comes on the heels of an announcement that GT Co-founder and Chairman, Frank Gehry has brought together the world's most distinguished architects and designers -- including David Childs, Zaha Hadid and Greg Lynn -- to form a strategic alliance furthering GT's vision to transform the building industry and the practice of design. The alliance will enable new approaches to design through technology in order to create more effective industry processes and a higher quality built environment.

About Gehry Technologies
Co-founded by legendary architect Frank Gehry, GT provides design and project management technology and consulting services to leading owners, developers, architects, engineers, general contractors, fabricators, and other building industry professionals worldwide. GT solutions increase creativity and control; reduce project risks, costs, and completion times; and improve processes and decisions through collaboration, project visibility, and information access. GT is privately held, with offices in Los Angeles, New York, Paris, Mexico City, Abu Dhabi, Hong Kong, Shanghai, and Beijing. For more information about Gehry Technologies, visit www.gehrytech.com.

Gehry Technologies Media Contact:
Sarah Tonzi
Emerge Media Communications

Email Contact
585-905-1806 





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