Satellier receives a $10 million investment

Deal Participants:
Company: Satellier View Profile Charts Homepage
Investors: Sequoia Capital View Profile Add Homepage   Google Search
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Deal Financials:
Investment Amount: $ 10 million
Series: B
Date:
Announced: Sep 29, 2007

PRESS RELEASE - Satellier receives a $10 million investment

Satellier LLC., Secures $10 Million in Second Round Equity Funding from Sequoia Capital



Global Leader in Workshare Services to the AEC Industry Will Expand
International Reach, Building Information Modeling Services

CHICAGO, Oct. 26 /PRNewswire/ -- Satellier, a pioneer and global leader
in the development of value-added design support and Building Information
Modeling (BIM) service solutions for the global architecture, engineering,
construction (AEC) industry, announced today that it has raised $10 million
in a second round of venture funding from Sequoia Capital. The investment
accelerates the company's rapid migration to full technology-enabled BIM
services and will facilitate robust global expansion.
Satellier is investing heavily in BIM services, including hiring key
technologists and thought leaders to direct dedicated BIM practice areas
and developing proprietary workshare software with BIM at the forefront.
Expanded service offerings will reach the architecture and engineering
marketplace as well as the construction and owner communities. The company
plans to open three new US offices in the next six months, and a U.K.
office and new delivery centers in India and around the world over the next
24 months.
"Sequoia brings a wealth of skills, resources, and experience to the
Satellier Board, and will assist us in establishing best-practice global
relationships, managing our rapid growth, and helping to accelerate our
transition to the industry's next-generation technology: Building
Information Modeling," notes Michael Jansen, Satellier's Chairman and CEO.
Sumir Chadha, Managing Director of Sequoia Capital India, adds, "As
many professional services from law to architecture are moving offshore, we
look for leading companies in their fields to have the greatest chance of
long-term success. Michael's vision for the future of Satellier, to create
the first ever transnational BIM firm, is poised to change the face of the
AEC industry."
About Satellier
Satellier is a leading workshare partner to the global AEC industry
providing a complete range of value-added design support solutions evolving
from computer aided design (CAD) documentation, 3D modeling, and Building
Information Modeling (BIM). Established in 2000, Satellier works in
partnership with leading firms the world over and has completed over 2,000
projects in more than 50 countries. Currently Satellier's client list
includes 18 of the world's top 30 architecture, interior design,
engineering, and construction firms. Headquartered in Chicago, Satellier
operates from its state-of-the art studio facilities in New Delhi and
Kolkata, India, where teams of over 400 talented English-speaking
professionals execute technical drawings in a world class environment.
Visit the Satellier website http://www.satellier.com for details.
About Sequoia Capital
Since 1972, Sequoia Capital has provided startup venture capital for
very smart people who want to turn ideas into companies. As the
"Entrepreneurs Behind the Entrepreneurs," Sequoia Capital's Partners have
worked with innovators such as Sandy Lerner and Len Bozack of Cisco
Systems, Jerry Yang and David Filo of Yahoo!, Gaurav Garg of Redback
Networks, Larry Page and Sergey Brin of Google, Dan Warmenhoven of Network
Appliance, T.J. Rodgers of Cypress Semiconductor, Lou Tomasetta of Vitesse
Semiconductor, Steve Jobs of Apple Computer and Larry Ellison of Oracle.
The companies organized by Sequoia Capital now account for about 12% of the
value of NASDAQ. To learn more about Sequoia Capital visit
http://www.sequoiacap.com.
Media Contact: Monica Schaffer
Diversified Media Design
Office: (646) 442-4317
Cell: (917) 846-1415
schaffer@dmdnewyork.com


Edit History:
Dec 10 '07
This version submitted by azstrik
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