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Bentley Systems

Bentley Systems, Incorporated is a global that develops, markets, and supports software solutions for the , , , and of infrastructure assets, including roads, bridges, , railways, utilities, and industrial plants. The company empowers architects, engineers, constructors, and owner-operators with integrated digital workflows, modeling tools, and technologies to advance resilient and sustainable infrastructure worldwide. Headquartered in , Bentley Systems employs approximately 5,500 people across 42 countries and serves more than 42,000 customer accounts in 189 countries, with 93% of the world's top engineering firms and 72% of top infrastructure owners using its solutions. In , the company reported annual revenues of $1.35 billion, reflecting a 10% increase from the previous year. Founded in 1984 by four brothers—Barry, Keith, Ray, and Greg Bentley—in southeastern , the company originated from the brothers' expertise in and to create software that digitized infrastructure and . Initially focused on microcomputer-based tools for structural engineers, Bentley Systems grew rapidly through innovations like , its flagship CAD platform introduced in the late , which became a standard for precise 2D and in infrastructure projects. By 2000, it had become the second-largest privately held software company in the U.S., with revenues exceeding $200 million and offices in 38 countries. The company went public in September 2020 via an on the (ticker: BSY), distributing shares to thousands of employees and marking a milestone in its evolution from a family-owned business to a publicly traded leader in the sector. Today, the founding brothers remain involved, with four serving on the board alongside independent directors. Bentley Systems' portfolio includes key products such as for CAD design, for collaborative project and asset management, for 4D construction modeling, and OpenFlows for water and wastewater network analysis, all integrated to support AI-driven insights and open data ecosystems. These solutions facilitate the entire infrastructure lifecycle, from planning and simulation to operations and decommissioning, emphasizing sustainability and digital twins for real-time asset performance. Notable achievements include powering major projects like the Hong Kong-Zhuhai-Macao Bridge and contributing to global initiatives for resilient infrastructure, underscoring Bentley's role in the digital transformation of the global infrastructure industry.

Company Overview

Founding and Headquarters

Bentley Systems was founded on September 5, 1984, by brothers Keith Bentley and Barry Bentley in , , with their siblings Greg, Ray (Raymond), and Scott soon joining the venture. The company began as a provider of software tailored for , particularly focusing on affordable tools to access and manipulate CAD drawings on personal computers, addressing the high costs of mainframe-based systems prevalent at the time. This family-driven initiative aimed to democratize by leveraging emerging for infrastructure-related applications. In 1986, Bentley Systems relocated its operations from West Philadelphia's University City Science Center to Lionville (now part of Exton), Pennsylvania, to better accommodate growing needs, including the installation of an Intergraph VAX system. The move, financed through a loan secured by one of the brothers, established the company's enduring base in a building on Gordon Drive. Today, the corporate headquarters at 685 Stockton Drive in Exton serves as a central hub for engineering innovation, housing key development teams and fostering collaborative advancements in infrastructure software. From its origins as a modest family-run operation, Bentley Systems quickly emphasized CAD software for infrastructure engineering, evolving into a professional entity that prioritized and accessibility for structural and civil engineers. The company's key initial product, PseudoStation (originally ViewDGN), released in , enabled users of systems to view and edit files using low-cost graphics terminals, marking an early step toward microcomputer-based engineering workflows. This focus laid the groundwork for Bentley's transition to a broader portfolio of design and analysis tools.

Leadership and Operations

Bentley Systems is led by Nicholas Cumins, who assumed the role on July 1, 2024, succeeding Greg Bentley, a co-founder who served as CEO from 1995 to 2024 and now holds the position of Executive Chair of the Board. Other key executives include James Lee, appointed in January 2025, and Werner Andre, both contributing to the company's strategic oversight and financial management. The comprises eight members, blending family involvement from the company's founding with independent expertise following its 2020 . Co-founders Greg Bentley (Executive Chair), Keith A. Bentley, Barry J. Bentley, Ph.D., and Raymond B. Bentley represent insider perspectives, while independent directors include Kirk B. Griswold (former CEO of ), Janet B. Haugen (former CIO of ), and Brian F. Hughes (former CFO of Comcast Cable), alongside CEO Nicholas Cumins. This composition ensures focused on long-term and accountability in the infrastructure engineering sector. Operationally, Bentley Systems organizes its activities into four primary solution segments: Reality Modeling, which handles data capture and ; Project Delivery, supporting and ; Asset Performance, aiding operations and maintenance; and Geoprofessional, targeting geospatial and subsurface applications. This structure enables targeted development and delivery of software solutions across the infrastructure lifecycle. employs approximately 5,500 colleagues worldwide as of 2025, fostering an engineer-led culture that emphasizes technical expertise and collaborative problem-solving among its predominantly engineering-focused workforce. Bentley invests about 20% of its revenue in to drive ongoing innovation.

Financial Performance and Global Reach

Bentley Systems reported total revenues of $1.353 billion for the full year 2024, representing a 10.1% increase from , driven primarily by growth in its subscription offerings. The company has increasingly shifted toward a subscription-based following its 2020 , with subscriptions accounting for approximately 90% of total revenues in recent quarters and growing 13.2% year-over-year to $1.223 billion in 2024. For 2025, Bentley projects total revenues in the range of $1.461 billion to $1.490 billion, reflecting continued expansion in recurring revenue streams. The company went public on the Global Select Market under the BSY in September 2020, raising approximately $237 million through the sale of 10.75 million shares at $22 each, which implied an initial valuation of nearly $5 billion. In October 2025, was added to the S&P MidCap 400 index, replacing Co., effective prior to the opening of trading on October 7, 2025, which enhanced its visibility among institutional investors. Bentley maintains a global footprint with operations in 189 countries, supported by offices in 42 countries and a workforce of approximately 5,500 employees. The company serves over 42,000 active accounts, including major owners and firms, with its software used by a significant portion of the world's largest organizations in the sector. A notable financial milestone was ' minority investment of $130 million in in 2016 ahead of its IPO, which strengthened their strategic alliance in digital solutions; later increased its stake through additional purchases, holding approximately 11% as of 2024. This partnership has supported 's reinvestment in , aligning with broader innovation efforts.

Products and Services

Core Software Platforms

Bentley Systems' core software platforms provide the foundational tools for infrastructure engineering, enabling design, collaboration, and across the lifecycle of projects. These platforms—MicroStation, ProjectWise, and AssetWise—integrate to support workflows from initial modeling to ongoing operations, leveraging open standards for seamless data exchange. serves as Bentley's primary (CAD) platform for and in infrastructure projects, offering precision drafting, visualization, and analysis capabilities tailored to engineering disciplines. Developed in the mid-1980s from PseudoStation, a low-cost tool for accessing CAD files on personal computers, it has become a versatile environment for creating detailed models of roads, bridges, buildings, and utilities. The 2025 release introduces -assisted workflows, including a Assistant for and an for automating annotations, which streamline repetitive tasks and enhance design efficiency. ProjectWise functions as a comprehensive and project delivery system, facilitating document management, , and integration with (BIM) processes for engineering teams. It enables secure sharing of design data among distributed stakeholders, supporting compliance with standards like ISO 19650 for BIM workflows. By centralizing project information, ProjectWise reduces errors in data handover and accelerates review cycles, allowing contractors and owner-operators to track deliverables and audit changes in real time. AssetWise delivers asset performance management solutions focused on the operations and phases of assets, providing tools to monitor reliability, predict failures, and optimize strategies. It aggregates data from sensors, inspections, and historical records to generate actionable insights, helping organizations minimize downtime and extend asset lifespans. Core components like AssetWise Reliability support proactive programs for equipment in sectors such as and , ensuring with regulatory requirements through centralized . These platforms achieve interoperability through Bentley's iModel format, an that acts as a container for multi-discipline , enabling exchange without lock-in. iModels preserve the integrity of models from , documents from , and performance from AssetWise, facilitating collaboration across tools and third-party applications. This integration supports -driven decisions throughout the infrastructure lifecycle, from to decommissioning.

Specialized Engineering Tools

Bentley Systems offers specialized engineering tools tailored to specific infrastructure domains, enabling precise , , and for complex projects. These tools integrate advanced modeling capabilities to address challenges in civil, structural, and , often building on the core platform for seamless interoperability. OpenRoads Designer serves as a comprehensive application for , focusing on and design with integrated hydraulic modeling. It supports end-to-end workflows for geometrics, , drainage, subsurface utilities, takeoff, cut/fill , grading, and lane configurations, allowing engineers to create detailed and models compliant with BIM standards. The tool excels in terrain modeling and steady/unsteady state and simulations, enabling the design and of systems with up to 100 inlets for accurate risk assessment. SYNCHRO provides 4D construction modeling capabilities for scheduling and , transforming static design models into dynamic construction sequences. It facilitates model-based quantity takeoff, work breakdown structures, clash detection, and real-time collaboration, helping teams visualize project timelines, optimize , and mitigate risks during execution. By linking schedules to models, SYNCHRO enables simulations that identify potential delays and support seamless handovers to operational digital twins. STAAD.Pro is a leading software for and , applicable to buildings, bridges, and industrial structures using and . It performs finite element under static, dynamic, wind, , thermal, and moving loads, incorporating international design codes such as ASCE 7, Eurocode, and IS standards for code-compliant optimization. The tool supports physical modeling from synchronized designs, enabling automated detailing for beams, columns, slabs, and foundations while ensuring economical material use. These tools find applications across key infrastructure sectors, including , , , and , where they enhance project efficiency and safety through targeted simulations and integrations. In the sector, OpenRoads Designer was used for urban flood control in northwest , where it integrated with OpenFlows for and dynamic modeling to verify stormwater systems and communicate intent. For infrastructure, STAAD.Pro optimized the of the world's tallest , analyzing complex loads to save approximately US$9.26 million in material costs while maintaining long-term safety. In projects, supported 4D planning for the Port Moresby Power Station in Papua New Guinea, a 58-megawatt facility, by simulating sequences to improve coordination and reduce on-site disruptions. Within operations, aids in sequencing heavy equipment installations and structural simulations for processing plants, as seen in broader digital workflows that streamline earth movement monitoring and at sites.

Digital Twin and Cloud Solutions

Bentley Systems' iTwin Platform, launched in 2020, serves as a cloud-based foundation for creating and managing digital twins of infrastructure assets, enabling real-time simulation, collaboration, and predictive analytics through open APIs and data integration from diverse sources. The platform supports the ingestion of engineering models, IoT sensor data, and geospatial information to generate dynamic visualizations that allow stakeholders to monitor asset performance and simulate scenarios for maintenance and optimization. By leveraging scalable cloud infrastructure, iTwin facilitates the development of SaaS applications tailored to infrastructure lifecycles, from design to operations, promoting interoperability across project teams. In 2025, Bentley announced the Infrastructure Cloud Connect, a unified layer that enhances by integrating with major cloud providers such as and (AWS), allowing for seamless handling of large-scale project , models, and tools. This service supports over 50 file formats and connects with enterprise systems to create a connected , enabling automated workflows and informed across the infrastructure lifecycle. Set for general availability in December 2025, it builds on the iTwin Platform to streamline curation and leverage cloud scalability for global projects. Bentley has integrated artificial intelligence advancements into its offerings, including generative design tools in applications like OpenSite+ for automating civil site planning and layout optimization, announced in 2024. Additionally, 2025 incorporates AI-driven annotation to expedite production and reduce manual tasks in workflows. These features are bolstered by a 2024 strategic partnership with Google Cloud, which embeds advanced geospatial data and AI-powered asset analytics into Bentley's ecosystem for enhanced predictive insights. The acquisition of Cesium in 2024 further supports 3D geospatial visualization within these tools. The adoption of these digital twin and cloud solutions has demonstrated benefits such as reduced project timelines by 20-30% through and , as seen in case studies involving gains. For instance, have enabled improvements, including a 30% increase in for projects and accelerated decarbonization in by minimizing resource waste. These outcomes underscore the platform's role in promoting resilient, low-carbon development.

History

Early Development (1984–2000)

Bentley Systems was founded on September 5, 1984, by brothers Keith and Barry Bentley in suburban , , with the goal of developing software to enhance infrastructure engineering on emerging personal computers. Initially bootstrapped by the family, including later involvement from brothers Greg, Ray, and Scott, the company focused on creating cost-effective tools for (CAD) that transitioned engineers from expensive mainframe systems to affordable PCs. Their first product, PseudoStation, launched in 1984 and enabled users of Intergraph's VAX-based IGDS CAD system to view and modify designs using low-cost graphics terminals connected to personal computers, marking an early shift away from mainframe dependency. By 1986, Bentley introduced , its flagship CAD platform adapted from PseudoStation for the PC/AT, which allowed individual engineers to perform design tasks independently without mainframe access. version 1.0 debuted in 1985, followed by in 1987, which added advanced features like and quickly gained traction in applications. During this period, Bentley collaborated on early civil engineering tools, including support for GEOPAK software—a road and site design system originally developed in 1984 for Intergraph's IGDS—which began integrating with to address infrastructure needs like highway modeling. These innovations helped Bentley establish an initial market presence amid the PC revolution, with sales reaching approximately 20,000 copies by 1989. The 1990s saw significant growth for , driven by 's expansion and international outreach. The company launched versions like MicroStation V5 in 1993, incorporating photorealistic rendering and reference file capabilities that enhanced its appeal for large-scale projects. To penetrate European markets, Bentley established a network of resellers and opened offices starting in the late , achieving 350 global resellers by under leadership like Dick Fox, who focused on regional adaptation. Revenue grew from $25 million in 1994 to $100 million by , reflecting bootstrapped operations supplemented by a 1987 investment from , which took a 50% stake for $3 million before Bentley's independence in . Key challenges included intense competition from Autodesk's , which dominated the PC CAD market; Bentley countered by adding DWG file import/export support in Version 5 (1993) and offering trade-in programs for users. Despite these hurdles and the strains of parting from —achieved through a 1994 contractual clause invoking autonomy by January 1995—Bentley maintained family-led funding without broad external . A pivotal milestone came in December 1997, when Bentley acquired 's IGDS CAD assets, enabling full control over its foundational technology and broadening its CAD portfolio for engineering applications.

Expansion and Public Listing (2000–2020)

During the , Bentley Systems pursued an aggressive acquisition strategy to broaden its software portfolio and enhance its capabilities in infrastructure engineering. The company completed over 20 acquisitions during this decade as part of more than 30 deals from 1997 to 2015, focusing on specialized tools for civil, structural, and geospatial applications. Notable examples include the 2001 acquisition of GEOPAK Corporation, which strengthened Bentley's offerings in road and rail design software, and the 2004 purchase of Haestad Methods, Inc., adding advanced hydraulic and hydrologic modeling solutions. These moves supported significant scaling, with the company expanding its global footprint to include additional offices in key markets. In April 2002, Bentley Systems filed for an (IPO) to raise capital for further growth, but withdrew the filing later that year amid unfavorable market conditions and the enactment of the Sarbanes-Oxley Act, which increased regulatory burdens for public companies. The company remained privately held, continuing to invest in product development and strategic partnerships. Entering the 2010s, Bentley emphasized cloud-based collaboration and digital delivery. In 2014, it launched the CONNECT Edition platform at its Year in Infrastructure conference, introducing a unified environment that integrated desktop applications with cloud services on , enabling better project team connectivity and data sharing. This initiative marked a pivotal shift toward deployment models, laying the groundwork for Bentley's transition to software-as-a-service () offerings. Bentley's strategic ties with Siemens deepened during this period, beginning with a formalized in November 2016 that included joint innovation investments of €50 million (approximately $54 million) and Siemens' purchase of about $76 million in secondary shares of Bentley's , increasing Siemens' stake to around 3%. The partnership expanded in 2018, doubling the joint investment to €100 million and further elevating Siemens' ownership to over 9% by 2020 through additional secondary share purchases. These investments focused on accelerating digitalization in industries like utilities and , aligning with Bentley's growing emphasis on integrated workflows. By 2020, Bentley's revenue had grown substantially, reaching $802 million, up approximately 50% from $535 million in 2015, driven by subscription-based models and expanded SaaS adoption. On September 23, 2020, the company executed a direct listing on the Nasdaq Global Select Market under the ticker "BSY," priced at $22 per share and opening at $28, valuing the enterprise at approximately $5.5 billion at the issue price. Unlike a traditional IPO, no new shares were issued, allowing existing shareholders to sell approximately 10.75 million Class B shares and providing liquidity without diluting ownership significantly. This milestone facilitated Bentley's full pivot to a SaaS-centric strategy, with over 70% of revenue from recurring subscriptions by year-end, positioning it for sustained growth in digital infrastructure solutions.

Recent Innovations and Acquisitions (2020–Present)

Following its , Bentley Systems continued to expand its portfolio through strategic acquisitions and technological advancements focused on digital twins, , and geospatial integration. In , the company acquired Seequent, a leader in software for geosciences and geotechnical applications, in a deal valued at approximately $1.05 billion. This acquisition enhanced Bentley's subsurface modeling capabilities, enabling more integrated solutions for projects involving geological . Concurrently, Bentley advanced its digital twin platform with the iTwin initiative, announcing integrations such as with for real-time -enhanced visualization and simulation of assets. In 2024, Bentley strengthened its 3D geospatial offerings by acquiring Cesium, a platform specializing in open-source 3D geospatial visualization and streaming technologies like . The acquisition, announced on September 6, aimed to bolster 's ability to incorporate high-fidelity geospatial data into digital twins for engineering. Later that year, on October 9, formed a partnership with to integrate 's geospatial content, including photorealistic and Maps data, with 's software ecosystem, facilitating AI-driven improvements in , , and operations. Bentley further pursued AI innovations in transportation through its 2023 acquisition of Blyncsy, a provider of AI-powered services for traffic signal optimization and roadway intelligence, which continued to influence developments into 2025. In October 2025, Bentley achieved a milestone in market recognition with its inclusion in the S&P MidCap 400 index, effective October 6, replacing Co., which underscored the company's growing scale and investor confidence. That same year, Bentley introduced an AI agent for automating design tasks, specifically annotating engineering drawings, with general availability planned for November 2025 to streamline workflows and reduce manual effort in projects. The company's annual Year in Infrastructure conference, held in in October 2025, highlighted ongoing strategic directions, emphasizing themes such as integration for resilient , digital twins for decarbonization, and data-driven in the face of climate challenges. These efforts reflect Bentley's post-IPO focus on building an interconnected ecosystem for smarter, more sustainable management.

Education and Industry Initiatives

Bentley Institute Press

The Bentley Institute Press serves as the publishing arm of Bentley Systems, focused on developing educational resources for professionals in , , and (AEC). It produces textbooks, reference guides, and learning materials dedicated to the practical application of engineering software and concepts. The press has issued key publication series covering Bentley's core tools, including for CAD workflows, for project management, and digital twins for advanced modeling. Notable titles include the multi-volume Inside MicroStation CONNECT Edition series, which provides hands-on exercises for and design, and Infrastructure Digital Twins: A Short Course, exploring iTwin platform applications. The catalog encompasses numerous titles, authored by industry experts to advance skills in BIM, , and geospatial analysis. Resources from the press are distributed through a mix of free and paid formats, accessible via the Bentley Learn server for on-demand training modules and e-books. Print editions and digital subscriptions are available directly from 's online store and major platforms like . Partnerships with universities worldwide integrate these materials into curricula, supporting academic programs in and related fields. The press plays a pivotal role in Bentley's education initiatives by underpinning certification programs for software proficiency, enabling professionals to master tools like and through structured learning paths. This contributes to training hundreds of thousands of users globally each year, fostering expertise in infrastructure digital workflows.

Bentley Infrastructure 500

The Bentley Infrastructure 500 is an annual ranking compiled by Bentley Systems that identifies the world's top 500 owners of assets, spanning and sectors. First published in during Bentley's Year in Infrastructure , the ranking serves as a to compare the scale of infrastructure investments across industries, regions, and ownership types, underscoring the potential for enhanced and returns through digital engineering solutions. The relies on financial from publicly available statements and third-party sources for over 500 organizations, them by the net depreciated value of tangible fixed assets—such as buildings, land, machinery, and other noncurrent physical —reported over the past three years. All figures are converted to U.S. dollars for comparability, with exclusions applied for non-infrastructure items like software or movable equipment where permits. While the focuses primarily on asset valuation rather than direct assessments of adoption or practices, it positions to collaborate with these owners on advancing technologies like twins for better and resilient . In the 2024 edition, the combined infrastructure assets of the top 500 owners totaled more than $19.37 trillion, exceeding the 2023 gross domestic products of and combined. Leading the list were the Government at $574.3 billion, Russia's Surgutneftegaz at $262.9 billion, and at $204.7 billion, including prominent utilities like and transport authorities within government portfolios. The initiative promotes best practices by making detailed reports freely accessible online, enabling stakeholders to analyze trends and prioritize digital investments for sustainable infrastructure development.

Awards and Community Engagement

Bentley Systems' awards programs recognize innovative applications of its software in projects, fostering industry-wide excellence and . The Going Digital Awards, an annual program formalized in (previously known as the Be Inspired Awards until 2019), honor outstanding projects utilizing Bentley technologies across all phases of infrastructure delivery. In 2025, winners across 12 categories were announced on October 16 during the Year in Infrastructure conference in , selected by a panel of independent judges for their digital advancements and impact. The program, which has recognized over 5,250 projects since its formalization in , emphasizes transformative outcomes in areas like design, construction, and operations. Complementing these, the Founders' Honors spotlight breakthrough ideas with scalable, repeatable impact, awarded alongside the Going Digital winners to celebrate visionary . The initiative rebranded to Going Digital in 2020 while maintaining its focus on excellence, including dedicated categories for where multiple 2025 recipients demonstrated reduced environmental footprints through tools. For instance, the Bentley-Envision Award, introduced to highlight sustainable , recognized a 2025 project for delivering measurable carbon reductions and social benefits beyond technical achievements. Additionally, received top honors in the 2025 Sustainability Delivery Awards in June for its Carbon Analysis tool, which enables precise decarbonization tracking in projects, underscoring the company's role in promoting carbon reduction initiatives. Bentley enhances community engagement through events and programs that connect users, developers, and educators. The annual Year in Infrastructure conference, a of these efforts, convened global leaders in from October 14-15, 2025, focusing on in , featuring sessions on integration for enhanced productivity and decarbonization via digital twins. The company supports ongoing interaction via the Bentley Community forums, where users discuss product applications and challenges; the Bentley Developer Network, offering resources for custom integrations; and regional user groups that provide peer-to-peer guidance and . Many Going Digital Award winners, including those advancing sustainability, are drawn from the Bentley Infrastructure 500, highlighting synergies between rankings and community recognition.

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