Founded in 2003 by entrepreneur Edgard Vermeersch, Itineris develops innovative software solutions that allow energy and water utilities to reach operational efficiency, achieve their environmental goals, and improve the relationship with, and experience of, their end customers. The company currently employs around 550 people in Europe and the United States and is expected to realize a turnover of more than 100mio EUR in 2025.
Since Gimv’s investment in 2013, Itineris has experienced sustained growth in its home region of Benelux and successfully expanded into the US and UK markets. Several large US cities currently use Itineris software to optimize the management of utility services, including New York, Dallas, Baltimore, Dakota, Georgetown, and Boston. In 2021, Itineris acquired Opinum, a Belgian software company that develops a data platform for energy and water utilities. This acquisition allowed Itineris to enhance its ability to support utilities in the energy transition by leveraging the untapped potential of their data.
Since joining this scale-up in 2013 and making subsequent investments, Gimv is able to generate significant realised value, aligning with its target return. This transaction has a positive impact on Gimv’s net asset value as of 31 March 2025 by slightly less than EUR 1 per share. No further financial details are being disclosed.