As we reflect on the past year, 2023 stands out as a milestone for VEERUM. From securing $9.3 million in funding to bringing our entire team together for our fiscal year kickoff, it’s been a year of client wins, substantial internal growth, and exciting product advancements. Our focus on ensuring complete asset data visibility, reducing site exposure, and consistently delivering projects within set timelines and budgets has remained unwavering. Supporting over $225 billion worth of unified assets globally, we've prioritized safety, efficiency, and security throughout the year. Join us as we delve into VEERUM's most transformative year to date.
January: VEERUM introduces a new vision statement—“The new visual way of doing work”
VEERUM ushered in the new year with a new vision statement, "The new visual way of doing work." This statement served as a guiding beacon, aligning the team's ambitions and setting a clear path for the year ahead. Our new vision reflected VEERUM's commitment to evolving work practices through innovative visual solutions, fuelling excitement and anticipation for the months to come.
“I’m incredibly proud of VEERUM’s commitment to deliver innovative solutions that empower our clients to work visually. Witnessing our direct impact in fostering a reality-first approach is truly remarkable.” — Trevor MacMaster, VEERUM CCO
February: VEERUM attends ARC Advisory Group Industry Forum
February marked VEERUM's active engagement at the ARC Advisory Group 2023 Industry Forum, held in Orlando. The forum provided a platform for VEERUM to shine as it took center stage in ExxonMobil's keynote presentation, "Building the Industrial Metaverse on Open Digital Twins," showcasing the application's capabilities.
March: VEERUM is awarded the most promising digital twin solution provider of 2023 and announces partnership with Drishya AI
In March, we were named the most promising digital twin solution provider of 2023 by CIO Review. This acknowledgment not only validated VEERUM’s innovation efforts but also fuelled our mission to revolutionize asset management through visual intelligence. In March, we also announced a partnership with Drishya AI Labs merging artificial intelligence technology with VEERUM DigitalTWIN to spearhead digitalization in brownfield sites.
April: VEERUM is named a 2023 Best Workplace in Canada
In April, we were proud to be named a 2023 Best Workplace in Canada. This recognition affirmed VEERUM's commitment to fostering an inclusive and positive culture, nurturing its most valuable asset—the dedicated team driving innovation and growth.
"In 2023, I was proud of the supportive workplace we built. VEERUM's recognition as a 2023 Best Workplace in Canada reflects our team's dedication and collaboration, reinforcing our commitment to excellence." — Laura Callow, VP of Marketing
May: VEERUM raises $9.3M in funding and hosts our fiscal year kickoff
May emerged as a pivotal month for VEERUM's growth trajectory with the successful closure of a significant funding round of $9.3 million. Led by Idea Well Capital Partners, this investment affirmed VEERUM's position as a leading digital twin solution provider, enabling us to continue to drive transformative change in industrial asset management.
“Securing funds in May 2023 stands out as a defining milestone for VEERUM. It fuelled our mission to transform asset management through visual intelligence, relentless innovation, and continued delivery of innovative solutions." — Chris Bacon, Director of Finance
In May, we gathered the entire team at its Calgary headquarters for the first time for our fiscal year kickoff. The kickoff was full of insightful sessions, led by industry experts and the leadership team, fostering collaborative efforts and igniting innovative ideas. The event not only equipped the team with valuable knowledge but also strengthened bonds, laying a solid foundation for the year ahead.
“My favourite memory of the year was bringing our entire team together from across Canada and the US after three years of remote work. It was incredibly energizing and emotional to have everyone connecting and creating together.” — David Lod, VEERUM CEO
June: VEERUM presents at OpEx Calgary, Digitalization in Mining, and Downstream 2023
In 2023, we keyed in on attending diverse industry events. From keynote presentations to participating in panel discussions, and live demos, it was wonderful to engage with the broader technology community in Canada, United States, and abroad.
July: VEERUM announces support for 3D Tiles
In July, we unveiled an exciting innovation—support for 3D Tiles—welcoming a new era of hyper-realistic asset visualization. This technological advancement promised unparalleled insights into data, enhancing decision-making and collaboration for VEERUM's clients.
“Our adoption of the OGC open standard for 3D Tiles provides a new visual way of working, empowering teams to make decisions with hyper-realistic models. What is most exciting is that users can take advantage of the entire VEERUM feature set within these photorealistic 3D Tiles, providing a powerful visual solution for digital asset management.”— Rob Southon, VEERUM CTO
August: VEERUM hosts a webinar with our partner HUVR
August saw VEERUM further fortifying its partnerships with another collaborative webinar, this time with partner HUVR. The joint webinar showcased our combined solution that revolutionizes turnaround planning, emphasizing hyper-realistic asset visualization, operational efficiency enhancement, and significant cost savings.
“2023 marked a transformative year for VEERUM’s brand, partnerships, and market presence. We didn’t just make connections, we’ve created enduring collaborations that propel our brand’s trajectory towards industry leadership.” — Laura Callow, VP of Marketing
September: VEERUM launches linear objects and co-presents with ExxonMobil at the RCN Conference
September brought forth another leap in VEERUM's technology with the launch of a new feature—Linear objects. We expanded our visualization capabilities far beyond the confines of a rectangular box, enabling clients to visualize assets with linear or bending structures like piping.
"This year, a significant validation for us was the joint presentation of our 3D air inspection solution by VEERUM and ExxonMobil at the RCN Conference. It not only showcased our innovative collaboration but also highlighted the tangible impact of our technology in transforming inspection methodologies within the industry." — Trevor MacMaster, VEERUM CCO
October: VEERUM announces a new Chief Financial Officer (CFO)
October marked a significant addition to VEERUM's leadership team with the appointment of Mike Kubik as Chief Financial Officer (CFO). Mike's expertise and strategic insights are poised to further bolster VEERUM's financial standing and pave the way for sustained growth.
"I'm eager to support the team in unlocking VEERUM’s significant growth potential and providing them with robust analytical support to drive informed decisions and minimize risks in key initiatives. Additionally, I'm excited about meeting more team members, immersing myself in our platform, understanding our customers, and strengthening our partnerships." —Mike Kubik, VEERUM CFO
November: VEERUM achieves a client net promoter score (cNPS) score of +84
November celebrated another milestone as VEERUM achieved an exceptional cNPS (Client Net Promoter Score) of +84, surpassing the industry benchmark of +35. A net promoter score is a measure used to gauge client loyalty, satisfaction, and enthusiasm. This increase is a testament to our commitment to delivering exceptional client experiences and building enduring relationships through ongoing initiatives like our client advocacy group, surveys, and one-on-one feedback sessions.
"In 2023, VEERUM's most significant validation came through the active participation, unwavering enthusiasm, and invaluable feedback from our client advocacy groups."— Scott Benesh, Co-founder and VP of Client Solutions
December: VEERUM announces VEERUM DigitalTWIN single-tenant offering
In December, VEERUM announced a new single-tenant deployment offering of our platform. This product release supports organizations with complex compliance requirements where multi-tenant hosting is no longer a viable option due to regulatory restrictions.
VEERUM in 2024
“In 2024, VEERUM is poised for its most monumental year. I'm looking forward to our upcoming launch of 3DVAULT and the comprehensive VEERUM ToolKITS, featuring groundbreaking tools like the AI/ML Vision Toolkit, 3DViewer, and DigitalTWIN API." — Rob Southon, VEERUM CTO
"2024 will be our best year yet! VEERUM is leading a new era in digital twins, creating our own unique category. The market is primed for the innovation we're set to deliver." — David Lod, VEERUM CEO
While challenges arose throughout the year, VEERUM showed that we were quick to adapt and rise to the obstacles that came our way—2024 will be no exception. To all our supporters and clients, we are grateful for your continued support and wish you the best for 2024 and beyond.