Properties are one of the most valuable assets sold on a daily basis. Each time a property is sold there’s a need for a floor plan along with the other materials. However the quality of existing materials varies a lot and quite often they’re not even available in digital form. CubiCasa makes it super easy for anyone to transfer their floor plans into appealing high quality form cost efficiently and on top of that they automatically create an approximate 3D model based on the floor plan. User just submits an image of the floor plan, basically any source material will do, even something drawn into napkin. These add tremendous amount of informational value around the transaction. Furthermore there’s numerous other purposes that CubiCasa’s floor plan database can used for, like planning decoration or being used as a source material for building automation services and indoor navigation.
From a napkin into a high quality approximate 3D floor plan in a snap.
Prior to Butterfly’s investment CubiCasa had launched successfully their first product version and honed the delivery process into excellent condition especially for real estate market. They have nearly 10% market share of Finnish real estate agents and their month to month growth ration have been around 15%. Furthermore they have taken their first steps into North-American market.
“We have been doing property visualisations manually for long. Some time ago we found a way to significantly lower the cost of entry level product, i.e. creating basic floor plans and indoor 3D model based on it. There’s definitely huge market for such data, but the right business model is a bit trickier question. That’s where Butterfly fits in very nicely. In addition to bringing in money, their business model expertise is a great asset to us. We also liked their coach-type attitude to co-operation and entrepreneurial spirit. They’re definitely the kind of people any startup team would like to have around.” (Harri Pesola, CEO of CubiCasa)
Butterfly invested into CubiCasa because they can cumulate floor plan data and 3D models extremely efficiently while making money in the process. This provides protection for their business and enables numerous business models, each with multi-billion dollar market opportunity. Furthermore the team has strong entrepreneurial background with plenty of startup experience and good connections to the main market in North America. Butterfly’s investment will be used for testing and validating business models as well as entering to the North American market.
Use of 3D information is growing and the models used are getting more complex. Furthermore it’s not just the designers running heavy duty workstations, but many different kinds of interest groups, such as construction workers at the construction site, who need to access and collaborate with the models. CadFaster enables this in real time with a Dropbox type of business model. Their technology is more efficient than any other on the planet, enabling the use of even the most detailed models also on mobile devices such as iPad.
Due to its cloud based optimizations MyCadbox is the fastest 3D visualization engine on the planet. It can handle gigabyte level models also on mobile devices such as iPad.
Already before the investment CadFaster had launched MyCadbox service, secured a partnership with Vectorworks as well as significant number of beta users, including some from organizations such as Foster and Partners.
”CadFaster is employing a modern business model and lean customer centric product development methods. Therefore we also needed an investor who really understands these. The real added value investor makes the difference. The role of Butterfly while creating our business model and moving towards lean startup practices has been instrumental already before the investment.” (Raimo Kuismin, Chairman of CadFaster, Inc.)
Cadfaster’s MyCadbox facilitates easy sharing of 3D models and collaboration with them.
Butterfly invested into CadFaster because they’re able to answer the customer need of real time 3D data collaboration with technologically advanced low barrier of entry product that is built on modern business model. This allows introduction of new customer segments into real time 3D data collaboration and thus significant growth potential. Reference customers and install base as well as proven 3D technology knowledge and a balanced team with experience were important factors as well. Furthermore, there are plenty of potential exit targets that have a history of acquisitions. Butterfly investment will be used to validate the new Dropbox like business model as well as establish the required metrics to leverage the valuation up for exit.