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Gehry Technologies Experiences Exponential 25 Percent Year Over Year Revenue Growth2011 Marks Several Milestones for the Architecture, Engineering, and Construction Technology and Services Leader (February 21, 2012)
LOS ANGELES, CA -- (Marketwire) -- 02/21/12 -- Gehry Technologies (GT), a global leader in applying technology to building industry challenges, experienced double digit revenue growth for the second year in a row in 2011, even in spite of the turbulent economy. The company also achieved several significant milestones, including Series B funding, the formation of a visionary board of advisors led by Frank Gehry, and strategic new hires and partnerships.
Strong financial growth
The company's 2011 double-digit revenue growth marks a 25 percent year over year increase for the past two consecutive years. In addition to this steady revenue growth, in November 2011, GT announced that it secured $10 million in Series B financing, bringing its total funding to $15 million. The round was led by Autodesk with participation from Dassault Systems and private investors. The funding will be used for the further expansion of GT's technology consulting services, as well as continued development of its data collaboration systems.
In Oct. 2011, GT co-founder and chairman, Frank Gehry, brought together the world's most distinguished architects and designers -- including David Childs, Zaha Hadid, Moshe Safdie and Greg Lynn -- to form a strategic alliance furthering GT's vision to advance 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. "Gehry Technologies is enabling architects to take control of the entire design process, ensuring that their intent is realized," said Safdie. "This is a discussion that the entire profession should engage in."
GT also enhanced its leadership team in 2011, with the addition of Deep Bhattacharya, executive vice president of Business Development and Strategy; Matt Reid, senior vice president of Marketing; and Jim Cheung, vice president of Research and Development.
Partnering for success
GT formed two strategic partnerships in 2011. First, the company formed an agreement with Dassault Systemes, a leader in 3D design and PLM solutions. The deal integrated GT's Digital Project products into the Dassault Systemes' portfolio, enabling them to be distributed through Dassault Systemes' direct and indirect sales channels. This agreement allows for broader distribution of GT's Digital Project and leads the way for Dassault Systemes' longer term diversification strategy to address this market.
GT also formed an agreement with Autodesk, Inc., a world leader in 3D design, engineering and entertainment software, to help architecture, engineering and construction (AEC) professionals to more fully realize the benefits of the Building Information Modeling (BIM) process to meet the demands of today's competitive building industry. The partnership enables GT to better serve its customers by expanding its consulting services to firms seeking to transform business and design workflows with Autodesk BIM solutions.
In 2011, GT extended its global footprint to the APAC region, opening offices in China, Australia and South Korea.
With offices already in Hong Kong, Beijing and Shanghai, GT expanded its presence in China with a new office in Guangzhou. The four offices combine to employ a large team of people who have contributed expertise to a variety of projects, such as the Qunli Museum, the Haerbin Recreation Labor Centre, the Haerbin Opera House and the New Library of Beijing University of Civil Engineering and Architecture.
A new office in Sydney is currently engaged in projects with Laing O'Rourke and University of Technology, Sydney. In addition, GT opened an office in South Korea and is serving customers like Samsung C&T, Seoul Metropolitan Government, Daewoo E&C and Heerim Architects and Planners.
Continued progress in 2012
GT anticipates its growth and momentum to continue in 2012 and beyond. New product announcements later this year will continue to elevate GT's position in the industry and change the role of technology in design and construction.
"At GT, we're not just developing software, we're building a strategy around development tools and services to help make BIM easier to use, interoperable and more powerful -- along with a better return on investment," said Dayne Myers, CEO of Gehry Technologies. "Our customers have propelled us to new levels in 2011 and we look forward to serving them and the industry at large with new products and services in 2012."
For more information, visit: www.gehrytech.com
About Gehry Technologies
Gehry Technologies (GT) provides design and project management technology and consulting services, including BIM implementation, 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. Gehry Technologies is privately held, with offices in Los Angeles, New York, Paris, Abu Dhabi, Hong Kong, Shanghai, Guangzhou, Beijing, Seoul, and Sydney. For more information about Gehry Technologies, visit www.gehrytech.com.
Gehry Technologies Media Contact:
Emerge Media Communications
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