Bricsnet raises $10m

Latest investment round brings total invested in Bricsnet to over $65m.

This week, Bricsnet announced that it had completed of a US$10 million capital increase. The company, which describes itself as “a leading provider of technology solutions for Integrated Workplace Management – including real estate, facility and project management”, completed the investment round last month.

The round was led by chairman and CEO Hector Rodriguez, and was subscribed to by the company’s long-lasting investors, including controlling shareholder Torimbia as well as other existing shareholders. The company, which has main offices in the US (in San Francisco) and Europe (in Madrid), plans to use the funds to “enhance product development and services, and to extend its leadership in the growing market for corporate and public sector real estate management systems”.

It is not clear whether this will include investment in Bricsnet ProjectCenter, its online system for project management and collaboration. I did an online interview with Bricsnet’s Cristina Niculescu, head of ProjectCenter in Europe, a year ago – when she said ProjectCenter accounted for about 20% of Bricsnet’s revenues.

The fundraising announcement sounded very familiar and it seems to be a regular activity at Bricsnet. The company completed a $13m investment round in October 2007, and two rounds totalling $14m in 2005 (post). Adding this latest round, it would appear the business has to date received investments totalling some $65.4m, including its $18.4m IPO in 1999.

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  1. […] while also stabilising Bricsnet over the following two-plus years and securing new funding (post). He very recently resigned from his 11-year tenure at the company in pursuit of other business […]

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