Dublin, Ireland-based Evercam has raised a total of €8m investment to help it further grow its presence in Europe, North America, and Asia-Pacific.
As previously covered in EE (read April 2020 post: Evercam : site imagery, AI and BIM), Dublin, Ireland-based company Evercam provides cameras for construction sites to provide regular feeds of images that can also be used to create time-lapse and project management video sequences.
Established in 2010 by Marco Herbst and Vinnie Quinn, the company looked at various potential applications of high resolution cameras and since 2017 has been solely focused on supporting construction projects, with its clients including several of Ireland’s leading main contractors.
Evercam began as a solution for time-lapsing construction projects but subsequently evolved. By 2020, its development team was applying artificial intelligence (AI) and machine learning (ML) to extend the uses of the camera imagery and software. Using the AI image recognition tools, for example, allowed monitoring of vehicle movements in and out of a site. Evercam imagery could also produce live and historic visual evidence to support building information modelling (BIM), enabling detailed comparison of what was designed and scheduled with what was delivered and when – effectively validating so-called 4D BIM programs.
Evercam raises €8m investment
Evercam has announced that it has raised a total of €8m investment to help it further grow its presence in Europe, North America, and Asia-Pacific. The round was led by Richard Hayes, Calista Direct Investors S.A. (EuroBIM) and Eoghan Quigley, alongside a “stellar consortium of investors”, and follow-on investment from Swisspost Ventures and Elkstone Partners.
The company says communication and accountability are the key drivers of success in the construction industry and believes the visualisation platform it has built enables this by being the ultimate source of reality-capture data. Evercam combines both the digital plan data (4D BIM) and the current reality (fixed position cameras, drone and 360° cameras) and turns it into actionable insights for the entire project team.
It says the investment will help it meet the demands of the global market, and strengthen its support and success teams. Stephen Duffy, chief of staff at Evercam, says:
“Construction is a $10 trillion industry, and the appetite for technology-based solutions is increasing … Evercam is a powerful visualisation and collaboration platform and our traction to date is a testament to the value that it brings to construction teams. We’re excited to use this investment to further grow our global client base. We’d like to thank our existing investors for their continued support and welcome our new investors to the business.”
Evercam has tripled its number of employees in the past two years and now has 600+ projects live globally.