Resources Operance raises additional £750K funding to help companies comply with Building Safety Act
We’re thrilled to announce that Operance has raised a further £750,000 from NPIF – Mercia Finance, which will support the addition of new features on the platform in response to the latest “higher-risk building” legislation.
“We are excited to secure this additional funding, which supports our mission to manage the world’s building information and create safe, harmonious places for everyone,” enthuses Scott Pilgrim, Operance Co-Founder and Chief Product Officer.
“Operance has been at the forefront of innovation, helping companies meet the requirements of the new building safety legislation efficiently. This funding will enable us to take it to the next level.”
Operance – the world’s first true “Golden Thread” software.
Operance helps building owners produce a “golden thread” of building information and comply with the Building Safety Act, which aims to improve building safety in the wake of the Grenfell Tower tragedy.
The Act is being introduced in phases and the latest phase requires owners of ‘higher-risk buildings’ – which covers around 13,000 properties – to register them with the Building Safety Regulator and assess the safety risks and produce a safety case report to show how risks will be managed. From April 2024, further building information provisions are set to come in force.
Launching in 2020, the Operance platform has been transforming the way that building information is defined, curated, accessed and maintained. The software is used by housing authorities such as Camden, Basildon and Harrow and construction firms including Kier, Higgins, United Living, Vermont and Rider Levett Bucknall.
Maurice Disasi, investment manager at Mercia, says:
“The Building Safety Act will bring about major changes in the construction and property industry and will drive uptake of digital technology. Operance is the first platform that has been specifically designed to help firms meet the requirements of the Act.
“This latest funding will enable the company to add new features and expand its presence in an industry that is ripe for change.”
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