Bentley Systems Commits $100 Million of Venture Funding to Accelerate Infrastructure Digital Twins
November 10 2020 - 7:25AM
Business Wire
Launches Bentley iTwin Ventures to co-invest
in digital twin ecosystem
Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure
engineering software company, today announced the establishment of
Bentley iTwin Ventures to invest in promising technology companies
addressing the emerging opportunity for infrastructure digital twin
solutions for roadways, railways, waterways, bridges, utilities,
industrial facilities, and other infrastructure assets.
Bentley iTwin Ventures is a $100 million corporate venture
capital fund which fosters innovation by co-investing in startups
and emerging companies that are strategically relevant to Bentley
Systems’ objective of advancing infrastructure through going
digital. The fund will target investments in transformational
digital twin solutions supporting the design, simulation,
construction, and/or operations of physical infrastructure.
Bentley iTwin Ventures will invest in early and mid-stage
companies that demonstrate ability to develop applications and
solutions that leverage and extend infrastructure digital twin
opportunities, particularly in the public works and utilities, and
industrial and resources, infrastructure sectors. The fund will
invest in opportunities which can leverage Bentley’s iTwin Platform
and open-source toolkits, supporting subject matter expertise,
commercial teaming, and/or global reach and relationships within
the infrastructure engineering community.
"Taking advantage of the momentum from Bentley Systems’ initial
public offering, we are excited to expand our Acceleration
Initiatives by formally launching the Bentley iTwin Ventures fund
to support the growth of entrepreneurial companies dedicated to
infrastructure digital twin solutions," said Greg Bentley, CEO of
Bentley Systems. "Our iTwin Platform provides a scalable
open-source foundation for technical and commercial innovation that
will empower a vibrant ecosystem to creatively combine and connect
what digital twins now make possible for infrastructure
constituents. Proprietary analytics, data services, benchmarking,
and infrastructure-as-a-service commercial models, for instance,
are not in Bentley Systems’ direct scope, but we are glad to have a
stake in bootstrapping these future successes. Here’s to the
fullest going-digital ecosystem for infrastructure digital
twins!”
Bentley Systems worked with corporate venture capital firm
Touchdown Ventures to establish Bentley iTwin Ventures. An initial
investment in FutureOn a.s. (www.futureon.com) was announced on
October 16, 2020.
About Bentley iTwin Ventures
Bentley iTwin Ventures is a corporate venture capital fund
sponsored by Bentley Systems, Incorporated. It invests in and helps
catalyze the growth of companies developing innovative
technologies, products, and services which intensify the
infrastructure digital twin ecosystem. For more information, please
visit www.BentleyiTwinVentures.com
About Bentley Systems’ Acceleration Initiatives
Bentley Systems’ Acceleration Initiatives was launched in 2020
to invest in new and incremental participants in open ecosystems to
advance infrastructure digital twins. The Bentley Systems
Acceleration Initiative is chartered to accelerate the creation and
curation of digital twins, and to foster technologies and
innovations so enabled, by nurturing new ventures, making minority
investments through Bentley iTwin Ventures, and acquiring and
expanding digital integrators. Wholly owned investments to date
include Digital Water Works, Digital Construction Works (joint
venture with Topcon Positioning Systems), Virtuosity, and The
Cohesive Companies. Bentley iTwin Ventures is a $100 million
corporate venture capital fund which co-invests in entrepreneurial
companies that are leveraging and expanding the infrastructure
digital twins ecosystem; co-investments to date include FutureOn.
Chief Acceleration Officer Santanu Das welcomes queries from
potential ecosystem participants at
www.BentleyAccelerationInitiatives.com
About Bentley Systems
Bentley Systems (Nasdaq: BSY) is the infrastructure engineering
software company. We provide innovative software to advance the
world’s infrastructure – sustaining both the global economy and
environment. Our industry-leading software solutions are used by
professionals, and organizations of every size, for the design,
construction, and operations of roads and bridges, rail and
transit, water and wastewater, public works and utilities,
buildings and campuses, and industrial facilities. Our offerings
include MicroStation-based applications for modeling and
simulation, ProjectWise for project delivery, AssetWise for asset
and network performance, and the iTwin platform for infrastructure
digital twins. Bentley Systems employs more than 4,000 colleagues
and generates annual revenues of more than $700 million, in 172
countries. www.bentley.com
Bentley, the Bentley logo, and Digital Construction Works (DCW)
are either registered or unregistered trademarks or service marks
of Bentley Systems, Incorporated or one of its direct or indirect
wholly owned subsidiaries. All other brands and product names are
trademarks of their respective owners.
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Rachel Rogers +1 415 897 5670 Rachel.Rogers@bentley.com Follow
us on Twitter: @BentleySystems
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