Bentley Systems, Incorporated operates as an infrastructure engineering software company.
The company empowers people to design, build, and operate better and more resilient infrastructure through the adoption of its intelligent digital twin solutions.
The company’s enduring commitment is to develop and support the most comprehensive portfolio of integrated software offerings across professional disciplines, infrastructure sectors, geographies, and the infrastructure lifecycle. The company’s s...
Bentley Systems, Incorporated operates as an infrastructure engineering software company.
The company empowers people to design, build, and operate better and more resilient infrastructure through the adoption of its intelligent digital twin solutions.
The company’s enduring commitment is to develop and support the most comprehensive portfolio of integrated software offerings across professional disciplines, infrastructure sectors, geographies, and the infrastructure lifecycle. The company’s software enables digital workflows across engineering disciplines, across distributed project teams, and from offices to the field. Moreover, the company’s intelligent digital twin solutions empower its users to achieve sustainable development goals by realizing outcomes that are more sustainable and resilient.
The company’s users design, build, and operate infrastructure assets across the following sectors:
Public Works/Utilities, which represents approximately 59% of the company’s sector-attributable annualized recurring revenues (‘ARR’), includes roads, rail, bridges, tunnels, airports, and ports; federal, state, and municipal agencies; and networks for electricity, gas, water, wastewater, and communications;
Resources, which represents approximately 27% of the company’s sector-attributable ARR, includes mining, oil and gas ‘upstream,’ offshore, pipelines, environmental management, and renewable energy;
Industrial, which represents approximately 9% of the company’s sector-attributable ARR, includes process and discrete manufacturing, oil and gas ‘downstream,’ and power generation; and
Commercial/Facilities, which represents approximately 5% of the company’s sector-attributable ARR, includes campuses, office buildings, retail facilities, and hospitals.
Products and Solutions
The company serves enterprises and professionals across the infrastructure lifecycle by improving project delivery and asset performance. For projects, the company’s software encompasses conception, planning, surveying, design, engineering, and construction, as well as the collaboration required to coordinate and share the work of interdisciplinary and/or distributed project teams. For assets, the company’s software spans the operating life of commissioned infrastructure assets, allowing its accounts to manage engineering changes for safety and compliance and to model performance and reliability to support operations and maintenance decisions.
The company’s Bentley Open engineering applications and Seequent geoprofessional applications are primarily cloud-connected desktop modeling and simulation applications that support the breadth of engineering and geoprofessional disciplines. Bentley Infrastructure Cloud, provided via cloud and hybrid environments, extends enterprise collaboration during project delivery, and helps manage engineering information during operations and maintenance. Bentley Asset Analytics solutions automatically detect and analyze issues to trigger key operational workflows, improving overall asset performance.
Powering these products is the company’s Cesium and iTwin Platform, its cloud-native technology platform to create, curate, and leverage infrastructure digital twins, which was augmented through the acquisition of Cesium in September 2024. Through the company’s platform, its existing products are becoming increasingly iTwin-enabled to take advantage of digital twin capabilities, and the company is developing a new generation of iTwin-native, data-centric applications that leverage artificial intelligence (‘AI’) to increase engineering productivity.
The company’s comprehensive portfolio of integrated software offerings comprises:
Engineering Applications
The company offers an open modeling environment consists of domain-specific authoring applications and an open simulation environment consists of applications to analyze the functional performance of designs that work together to improve engineering quality, streamline production of multi-discipline documentation, and reduce rework. These Bentley Open applications for modeling and simulation support a wide variety of file formats – both Bentley and third-party – and industry standards and design codes, enabling digital workflows across design, simulation, and analysis, and ensuring engineering data is not locked in, but remains open and accessible.
The company’s engineering applications work together to improve infrastructure engineering quality and productivity, resulting in better project designs and deliverables. The company takes care to enable compatibility across successive generations of its applications, which enables engineers, throughout their careers, to maintain continuity with their preferred interfaces, formats, and methodologies, while advancing their work at the leading edge of innovation.
The company’s open modeling applications include:
MicroStation, for flexible 3D design and documentation, providing the common modeling environment upon which its applications are built;
OpenBridge, for the 3D design and documentation of bridges;
OpenBuildings, for the 3D design and documentation of buildings and their integrated structural, HVAC, electrical, and plumbing systems;
OpenFlows, for the planning, design, and operation of water, wastewater, and stormwater systems, incorporating hydrological, hydraulic, and flood modeling;
OpenPlant, for the 2D and 3D design and documentation of process plants;
OpenRail, for the planning, 3D designs, and documentation of rail and transit systems;
OpenRoads, for the planning, 3D designs, and documentation of roads and highways;
OpenSite and OpenSite+, for the planning, 3D designs, and documentation of building, residential development, and infrastructure sites;
OpenTower, for the 3D design and analysis of communication towers;
OpenTunnel, for the 3D design and analysis of tunnels;
OpenUtilities, for the design and management of electric, gas, water, wastewater, and district energy networks; and
OpenWindPower, for the structural analysis and design of fixed and floating offshore wind turbines.
The company’s open simulation applications include:
ADINA, for nonlinear simulation and analysis;
AutoPIPE, for analysis and simulation of pipe stress in industrial process plants;
LEGION, for pedestrian traffic simulation;
OpenPaths, for multimodal transport network modeling and travel demand forecasting;
Power Line Systems (‘PLS’), for analysis and simulation of overhead electric power transmission lines and their structures;
RAM, for analysis and simulation of building structural performance;
SACS, for analysis and simulation of offshore structural performance;
SPIDA, for analysis and simulation of utility poles and overhead assets; and
STAAD, for analysis and simulation of structures of all types.
Geoprofessional Applications
The company’s Seequent applications support modeling and simulation to help geoprofessionals and infrastructure engineers develop a detailed understanding, and take full account of, near and deep subsurface conditions.
These include industry-leading earth modeling, subsurface-data management, and geoprofessional team collaboration software and geotechnical products that supplement visible built-asset representations above ground with more probabilistic modeling of subsurface conditions.
The company’s geoprofessional applications include:
AGS, for processing, inversion, and visualization of geophysical data;
Central, for geological model management, to visualize, track, integrate, and manage geoscience data from a centralized, auditable environment;
GeoStudio, for integrated geotechnical analysis of slope stability, groundwater flow, and heat and mass transfer in soil and rock;
Imago, for the capture and management of drilling core images;
Leapfrog, for 3D implicit modeling designed to rapidly integrate, communicate, and interpret geological data;
MX Deposit, cloud drill hole software for simplifying and controlling how drill and other field data is collected, managed, and shared throughout the lifecycle of an ore deposit from early exploration through to mine production;
Oasis montaj, for the quality control, correction, visualization, analysis, and interpretation of geophysical, geologic and geochemical data;
OpenGround, for geotechnical information management for collecting, reporting, managing, visualizing, analyzing, and accessing geotechnical data; and
PLAXIS, for geotechnical analysis to solve common and complex geotechnical problems, including advanced analysis for excavations, foundations, tunnels, and other infrastructure projects.
Bentley Infrastructure Cloud
The company’s enterprise information systems span the end-to-end lifecycle and value chain of the world’s infrastructure, helping engineers to produce higher quality deliverables, contractors to execute better with their supply chain, and owners to maintain a complete and accurate picture of their asset throughout its lifecycle.
Bentley Infrastructure Cloud encompasses:
ProjectWise, for project delivery, supporting information and document management, and engineering-specific collaboration and work-sharing for distributed project teams and enterprises;
SYNCHRO, for construction, spatially and temporally integrating a project’s 3D engineering models into its construction schedules to visualize and assess sequencing strategies; and
AssetWise, for asset operations, capturing and managing changes to engineering models and enterprise information for compliance and safety, and to model performance and reliability.
By unifying data between engineering applications and enterprise systems, Bentley Infrastructure Cloud helps organizations manage their data in a single environment, enabling integrated workflows, improved collaboration, and increased productivity. Data also can be easily enriched throughout the lifecycle. Powered by the company’s platform and infrastructure schemas and thus seamlessly integrating with Bentley Open applications, Bentley Infrastructure Cloud enables better creation, delivery, and ongoing operation of better infrastructure, through complete and evergreen digital twins.
Bentley Asset Analytics
The company’s asset analytics solutions unlock real-time insights and time-saving automation through AI-powered infrastructure digital twins to optimize asset performance and workflows. These solutions are applied to specific asset types and use cases.
Bentley Asset Analytics solutions include:
Blyncsy, for inspecting and detecting roadway conditions;
Bridge Monitoring, for identifying and classifying bridge defects;
Dam Monitoring, for assessing, monitoring, and analyzing risks to dams; and
OpenTower iQ, for creating digital twins of cell tower infrastructure.
Cesium and iTwin Platform
Cesium and iTwin Platform for developing infrastructure digital twin applications, leveraging the company’s infrastructure schemas, enables users to create and curate cloud-native 4D/5D digital representations of physical infrastructure assets, incorporating underlying engineering information federated with operational and enterprise data, and then to model, simulate, analyze, synchronize, track, and predict performance over time. Using digital twins, the company’s users can more fully extend digital workflows across the entire infrastructure lifecycle, increasing the value of infrastructure engineers’ work.
The platform was augmented through the acquisition of Cesium in September 2024. Cesium technology is used to develop powerful 3D applications of the land, sea, sky, and space—helping organizations understand their assets, environments, and operations in a 3D geospatial context. The combination of the iTwin Platform and Cesium enables developers to seamlessly align 3D geospatial data with engineering, enterprise, and operational data to create digital twins with astonishing user experiences that scale from vast infrastructure networks to the millimeter-accurate details of individual assets.
Through the company’s platform, it is adding digital twin capabilities to the company’s other offerings to enable users to better leverage data throughout the infrastructure lifecycle. The platform also supports a thriving ecosystem of third-party developers who use the company’s open-source tools to develop applications for the built and natural environment. With tens of thousands of developers, Cesium is the de-facto developer platform for 3D geospatial applications. The combination of the iTwin Platform and Cesium provides new opportunities for growth and value creation for this developer ecosystem.
Additionally, some capabilities of the platform are offered as discrete iTwin products. These include:
iTwin Capture, for capturing, modeling, analyzing, and sharing reality data, enabling users to easily create engineering-ready, high-resolution 3D meshes of infrastructure assets using drone video and survey imagery;
iTwin Experience, for visualizing and navigating digital twins, empowering owner-operators and their constituents with insights into critical infrastructure; and
iTwin IoT, for acquiring and analyzing sensor data, enabling users to seamlessly incorporate Internet of Things (‘IoT’) data created by sensors and condition monitoring devices for real-time safety and risk monitoring in infrastructure operations and construction activities.
Commercial Offerings
Licensing and Subscriptions
The company offers a variety of licensing and subscription options so that users can choose what works best for them, their project, and their organization.
For larger organizations with centralized management of their engineering software portfolio, the company offers its Enterprise 365 (‘E365’) subscription. The company’s E365 subscription is an all-inclusive global consumption-based plan which provides access to its comprehensive portfolio of solutions with uniform pricing across all countries. E365 subscriptions require a Cloud Services Subscription (‘CSS’) and are charged to accounts primarily based upon daily usage or elective subscriptions, dependent on product. They are also inclusive of ‘Success Plans’. The company’s ProjectWise and AssetWise enterprise collaboration solutions utilized under E365 are charged based on the total number of users within a calendar quarter, or fixed asset bands, respectively. While the majority of the company’s E365 subscriptions revenue is attributed to daily consumption of its applications, E365 subscriptions can contain floors or ceilings on usage charges.
The company also offers a 12-month named-user subscription including license, training, and knowledgeable engineering support procured through its e-store, Virtuosity, which is a convenient and cost-effective way for infrastructure professionals in small- and medium-sized businesses (‘SMBs’) to access Bentley software.
The company delivers its Bentley Infrastructure Cloud capabilities under the company’s CSS, charged quarterly based on the number of users of various levels of functionality.
CSS streamlines the procurement, administration, and payment process for the company, and it accounts for cloud offerings, term licenses, and recurring services. Participants in the company E365 program use CSS as the funding mechanism for their subscription. At the end of 2024, accounts representing approximately 60% of its total ARR had chosen to institute, for licensing of the company’s software, its commercial models eligible under CSS.
Success Plans and Services
For enterprise accounts, the company has transitioned from a traditional paradigm of on-demand technical support, and professional services contracted episodically, to instead delivering proactive and continuous engagement with users and accounts through ‘Success Plans.’ Success Plans are designed with business outcomes in mind, ensuring that accounts receive the best results from the company’s software. Working collaboratively with the company’s accounts, approximately 800 colleagues, most with domain experience and credentials in infrastructure engineering, deliver Success Plans through structured engagements based on explicit and standardized ‘Success Blueprints’ that include virtual or in-person engagements with subject matter experts. Success Plans, based on allotted credits toward multiple Success Blueprints per calendar quarter, are bundled into the company’s E365 subscription.
The company also offers specialized asset performance services, including through its Cohesive business, primarily to accounts that use IBM Maximo and the company’s AssetWise solutions for infrastructure asset operations and maintenance.
Primary Growth Initiatives
Incremental to the company’s long-standing programmatic acquisition strategy, since 2020 it has determinedly invested internal resources to accelerate organic growth, with increasing success, through the following primary growth initiatives:
Accretion in Enterprise Accounts: The company has established that E365 helps its accounts implement, propagate, and upgrade the company’s solutions more quickly, encouraging greater consumption of its software and stronger account relationships. The company intends to continue to expand the reach of its E365 subscription within virtually all of the company’s enterprise accounts;
Accretion in SMBs: New business from SMB accounts, including from hundreds of new ‘logos’ each quarter, has become a substantial contributor to the company’s overall ARR growth, and it is encouraged to continue investment in the company’s Virtuosity business and e-store. Development and deployment of a ‘low touch’ and ultimately ‘no touch’ digital experience will enable this business to further scale and align with the market potential; and
Catalyzing the Infrastructure Digital Twin Ecosystem: While engineering services firms (which make up approximately half of the company’s existing business) agree that digital twins are fundamental to the evolution of infrastructure engineering, they tend to lack firsthand experience of introducing data-centric offerings to owner-operators or examples of successful business models. The company’s asset performance services, including its Cohesive business, which implements IBM Maximo globally, represent the company’s own ‘digital integrator’ capabilities to prove business models that it can subsequently impart to engineering services firms, accelerating the adoption of infrastructure digital twin solutions.
Accounts
The company provides its software solutions to over 41,000 accounts in 189 countries worldwide. The company’s revenues are balanced and diversified between engineering and construction contracting firms who work together to deliver the design and construction of capital projects (representing 51% of the company’s 2024 total revenues), and their clients, the world’s public and private infrastructure asset owners and operators (representing 49% of the company’s 2024 total revenues).
The company brings its offerings to market primarily through direct sales channels, including through its account managers and the company’s Virtuosity inside sales colleagues and e-store, which generated approximately 93% of its 2024 total revenues. The company also relies on specialist channel partners in geographic regions where it does not have a meaningful presence or where, for some of the company’s offerings, direct sales efforts are less economically feasible. Channel partners accounted for approximately 7% of its 2024 total revenues.
Competition
The company’s key competitors in Public Works/Utilities applications include Autodesk, Inc., Trimble Inc., and Hexagon AB;
The company’s key competitors in Resources applications include Hexagon AB, the AVEVA unit of Schneider Electric, and Dassault Systèmes;
The company’s key competitors in Industrial applications include Hexagon AB, the AVEVA unit of Schneider Electric, and Dassault Systèmes;
The company’s key competitors in Commercial/Facilities applications include Autodesk, Inc., Nemetschek SE, and Trimble Inc.;
The company’s key competitors in project delivery systems include Autodesk, Inc. and Oracle Corporation; and
The company’s key competitors in asset performance systems include Aspen Technology, Inc., the AVEVA unit of Schneider Electric, Esri, and GE Vernova.
Production and Suppliers
The company’s principal supplier of cloud services is Microsoft, with whom it has entered a multi-year contract for a committed level of expenditures for Azure. The company added Google Cloud as a cloud service provider in 2024 to expand its delivery capabilities.
History
Bentley Systems, Incorporated was founded in 1984. The company was incorporated in California in 1984.
