Jan 12, 2011

Bricsnet Announces $10 Million in New Funding

Additional Investment will Fuel Enhancement of Leading Solutions for Real Estate, Facility and Project Management.

San Francisco - Bricsnet, a leading provider of technology solutions for Integrated Workplace Management -- including real estate, facility and project management -- announced today the completion of a $10 million capital increase.

The investment round, completed in mid-December and led by Chairman and CEO Hector Rodriguez, was subscribed to by the company's long-lasting investors, including controlling shareholder Torimbia as well as other existing shareholders. The company plans to use the funds to enhance product development and services, and to extend its leadership in the growing market for corporate and public sector real estate management systems.

"Bricsnet has continued to demonstrate its investment value through market growth and technological leadership," said Rodriguez. "By fully capitalizing on our previous investments, Bricsnet has achieved consistent traction and secured strategic customer relationships and partnerships with Fortune 500 companies. Our most recent investment is an unequivocal reflection of our confidence in the company's vision and in its ability to serve its clients," added Rodriguez.

Bricsnet's global client list includes more than 200 leading corporations, retailers, public sector organizations, educational institutions, architecture, engineering and construction firms.

Bricsnet's business was founded in 1986 and helps large corporations improve profits by more effectively managing all aspects of the workplace (including buildings, land, space, people, assets and systems). Bricsnet Enterprise and Bricsnet Retail are leading real estate management systems that -- along with Bricsnet Strategic Advisory Services -- provide fast, pragmatic and innovative solutions to increase shareholder value. Bricsnet ProjectCenter is an easy to use, online system for project management and collaboration.