Dallas, Texas (December 19, 2022) – Willow, a leading provider of digital twin solutions for critical infrastructure and real estate, has successfully completed its latest funding round, raising US$28.8 million. Finalized in December, the round will enable the ongoing deployment of Willow’s software, WillowTwin™ to its blue-chip customer base.
Willow’s existing shareholders who participated in the round, included Willow Chairman and Director Nicholas Moore – the former CEO of Macquarie Group, Jim Cooney – Chairman of TCI Renewables and a Director of Willow and Ric Clark – the former CEO of Brookfield Properties.
Willow Chief Executive Officer and Co-Founder, Joshua Ridley commented on the most recent capital raise as a vote of confidence from existing investors and the critical nature of the digital twin technology for built assets.
The investment round follows a recent recalibration of Willow’s strategy to focus on its largest growth area, Real Estate and Smart Facilities. “Digital Twins have many applications, but this is a time for sharp focus on where we are uniquely positioned to win,” Ridley said.
Real Estate and Smart Facilities are prominent components of business operations across many industry verticals, including office buildings, retail stores, warehouses, distribution centers, hospitals and other healthcare facilities, airports, train stations, and more. Times of economic stress make it even more important for our customers to adapt and find innovative ways to adjust their business to the new reality.
Willow’s Enterprise SaaS product, WillowTwin™ assembles and structures data across static, spatial, and live data sources, into a virtual replica of the built form. Through the twin, organizations and corporations who own or manage facilities of any kind can drive operational efficiency and cost reductions, improve their sustainability management, and improve IoT/Operational Technology security across their facilities. Willow has deployed its technology with world-class companies including Microsoft, Dallas/Forth Worth International Airport and Brookfield Properties.
The company recently announced a new partnership with Procore technologies (NYSE:PCOR), a US$6.6 billion market cap construction management software company, that will streamline the transition of digital deliverables from the construction phase to the handover and operations phases.
Willow continues to deepen its existing partnership with Microsoft as evidenced by the recent announcement of the integration of Willow with Microsoft Cloud for Sustainability. This integration will allow corporations who own or manage facilities, to achieve an accurate and holistic view of their sustainability footprint, by connecting their buildings to the Cloud.