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2021: Building a foundation for unprecedented growth

Updated: Mar 25, 2022

After another unpredictable year, we are taking a moment to reflect on the learning experiences and new opportunities that emerged. From our $7.4 million Series A funding, to adding 23 new team members, to receiving two new security certifications, it was a year of client success, exciting new growth across the VEERUM organization, and innovative product development. We remained focused on our commitment to bringing total visibility to asset data, reducing our client’s site exposure, and delivering projects on time and under budget. We’re proud to have supported the safety, efficiency, and security of over $225 billion unified assets around the world.

As 2021 winds down, here we present a glimpse into VEERUM’s most exciting year yet.


VEERUM raises $7.4 million in Series A funding

We were incredibly proud to announce $7.4 million in Series A funding led by BDC Industrial Innovation Venture and Builders VC, as well as continued participation from Brick & Mortar Ventures, Evok Innovations, InterGen and Creative Venture.

Our Series A funding was the catalyst that enabled a wave of momentum for the company as a whole. We doubled our team, tripled our revenue, and advanced our application to a point that we didn’t even see as possible before.”

—David Lod, CEO


VEERUM participates in a step challenge for Accessible Housing Society

How did the VEERUM team stay connected while working apart? We found a solution by participating in a virtual step challenge for Accessible Housing Society, a Calgary non-profit organization that provides safe, affordable housing for those struggling with chronic homelessness, limited mobility, and disability.

We took 4 million steps and raised $4,280 in donations.

This year I’m super proud of the team for staying invested in our culture, advancing our technology, and supporting our clients despite being physically disconnected due to the ongoing global pandemic.”

—Rob Southon, CTO


Sap Basu joins the team as VP of Product Management

In March, we welcomed Sap Basu as VEERUM’s first ever VP of Product Management, bringing with him over 20 year's experience in building, operationalizing, and leading multibillion dollar product portfolios. Sap’s diverse industry experience and leadership were essential to our continued growth and success throughout 2021.

“In 2021, I am proud of how we fostered a product-focused view around everything we do. From creating meaningful backlogs by incorporating stories directly from client’s requests, to bringing the voice of the customer into product roadmap and marketing planning, we set out to prioritize our product in a very disciplined manner.”

—Sap Basu, VP of Product Management

Along with Sap, VEERUM added 23 new positions to the company throughout 2021.

“I’m incredibly proud of the culture we’ve built and our low turnover rate. I’m thrilled to see how many talented people we’ve added to our team. It truly is a validation of our culture and product.”

—Chris Bacon, Director of Finance


VEERUM is now available on AWS Marketplace

At VEERUM, we are always looking for ways to make adoption easier for our clients. That’s why we joined AWS Marketplace to make it even simpler to source, deploy, and adopt our solution. Read more about VEERUM on AWS Marketplace here.


Our CEO, David Lod is named a finalist in the EY Entrepreneur of the Year program

The EY Entrepreneur Of The Year® is a global awards program that shines a spotlight on entrepreneurs across the country that are transforming our world through unbounded innovation. This year, we were incredibly proud that our CEO, David Lod had been named a finalist in the EY Entrepreneur Of The Year® 2021 Prairies program.


VEERUM hosts first Client Advocacy Group

VEERUM is a listening organization and we always look for opportunities for clients to voice their successes, pain points, and areas for improvement with the VEERUM solution. Throughout the year, we invited a core group of clients together to share, influence and advise VEERUM on our product. We look forward to hosting our third Client Advocacy Group by the end of the financial year.

“One of the biggest highlights of the year is attending the Client Advocacy group and hearing our tier 1 clients give high reviews of our solutions team. I’m incredibly proud of how invested our solutions team is in the success of our clients, and it’s been amazing to watch them grow together.”

—Trevor MacMaster, CCO

“There has been an incredible amount of feedback from our clients that we’ve incorporated into our product and even team structure this year. We’ve gone above and beyond in structuring our organization to meet our client’s needs.“

—Rob Southon, CTO

VEERUM releases 360 pano

One of the most exciting features we released in 2021 was VEERUM 360 pano. It allows our users to seamlessly transition between the ultra-realism of 360 photos and powerful accuracy enabled by VEERUM's 3D point cloud viewer.

"With the release of 4.0 of the VEERUM application, we’ve given our users an entirely new way of experiencing VEERUM. We also heavily invested in our Research, Development and Algorithms team and product offering. Our clients are seeing value from that investment via machine learning based automation.”

—Rob Southon, CTO

“With the release of 360 pano, we've taken the power and precision of point cloud technology and layered in the clarity of high resolution panoramic photos. It’s what AI and ML engines require in order to scale and includes what humans need to see to understand site conditions.”

—David Lod, CEO


VEERUM refreshes our website

In July, VEERUM unveiled our new website. The new and improved landing pages allowed us to better highlight our products, share our award-winning solution, and showcase our expertise.

“An early highlight for me this year was updating our website. We completely transformed the website, better highlighting our products and ultimately making our brand much stronger.”

—Sap Basu, VP of Product Management


VEERUM transforms legacy facilities with VEERUM Reality Site

“Throughout this year, we made amazing progress on the evolution of VEERUM Reality Site. We took the time necessary to make highly targeted improvements, resulting in a rapid ROI for our clients.”

—Trevor MacMaster, CCO


VEERUM is awarded CIOReview's Most Promising Oil and Gas Solution Providers of 2021

Last September, we were selected as one of CIOReview’s Most Promising Oil and Gas Solution Providers of 2021.

This recognition was a true testament to our incredible clients, outstanding team, and encourages us to continue on our journey to solve the industry's biggest challenges.


VEERUM achieves ISO/IEC 27001 certification

At VEERUM, we have always placed a high priority on data security and continuous improvement of data protection processes and internal systems. This year, we invested significant time and specialist consultations into achieving several security certifications, including ISO/IEC 27001.


VEERUM is SOC 2 Type II certified

On the heels of our ISO 27001 certification, we were thrilled to announce our SOC 2 Type II certification, the highest industry standard for managing client data based on security, availability, processing integrity, confidentiality, and privacy.

“Achieving our SOC 2 Type II certification was a culmination of 18 months of hard work and preparation. It was a significant step in the maturation of the VEERUM organization, and I am incredibly proud of the team for this milestone.”

—Chris Bacon, Director of Finance

VEERUM partners with Canadian data capture company Inline Group

In order to provide our clients with unmatched efficiency and quality for Canadian industrial assets, we partnered with data capture company Inline Group. Inline captures and processes critical asset data up to four times faster than average, and VEERUM visualizes all asset data in less than 48 hours. Read more about the collaboration here.


VEERUM presents at the Digital Twins in Energy conference in Houston

In December, we participated in our first in-person conference since 2019 at the Houston Digital Twins in Energy conference. This was a wonderful opportunity to connect with other members of the industry, discuss solutions to industry challenges, and identify potential partners.

“At the Digital Twins conference in Houston, it was incredible to see the value that VEERUM can provide in conjunction with other digital twin applications. We can aggregate disparate asset information sources, improving data silos and creating a single interface for all asset information.”

—Scott Benesh, Co-Founder and VP Capital Projects


We are thrilled about what’s next for VEERUM in 2022.

“I'm proud of the work VEERUM has accomplished this past year. We've grown the business while continuing to maintain high client satisfaction and our solid culture. We set the foundation for 2022 which will take us to new levels of growth and opportunity. The banner year is right in front of us.”

—David Lod, CEO

To all our supporters, partners, and clients, we are immensely grateful for your support throughout 2021. Thank you for an unforgettable year.


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