Properties worth more than a combined $1 trillion use first-ever global platform for benchmarking and reporting the sustainability performance of commercial real estate.
SAN DIEGO (April 16, 2018) – Measurabl, the world’s most widely adopted software platform for sustainability data management, benchmarking, and reporting closed $7 million in Series A funding today. Camber Creek, a real estate technology focused venture capital firm, led the round with participation from UK-based real estate tech investor Concrete, real estate asset manager DivcoWest, Salesforce Ventures, Sway Ventures, and returning investors Borealis Ventures and Impact Engine.
From traditional office and industrial buildings to major sporting venues, universities, data centers, and malls, commercial properties use Measurabl to accurately compare and report sustainability performance regardless of their type or location, filling a critical gap in a multi-trillion dollar industry increasingly concerned with its environmental and social impacts.
Sustainability is particularly relevant to real estate since it is one of the world’s most polluting industries, responsible for nearly 71% of US electricity consumption, 39% of carbon emissions, 14% of potable water usage, and 40% of raw materials usage. People spend 90% of their time indoors – the health and wellbeing implications of which are only now being understood and addressed using technologies like Measurabl.
As Ben Myers, Director of Sustainability at Boston Properties, puts it, “Measurabl is an essential component of our environmental data management platform. It has powered the efficient collection, review and disclosure of high-quality performance data for our entire portfolio.” Boston Properties, a perennial sustainability leader, ranked among the top 5% of worldwide participants in GRESB and received Nareit’s “Most Innovative” Leader in the Light Award in 2017.
Sustainability, alternatively referred to using the acronym ESG for “environmental, social, governance” is used by businesses and investors in creating and executing strategies seeking superior financial returns with less risk. It is a key component of real estate investment, lending, insurance, and leasing decisions for which Measurabl has emerged as the premier ESG software and analytics provider.
“ESG data is foundational to a well-functioning capital market. Since real estate is such a significant asset class it will benefit disproportionately from Measurabl’s leadership on data quality and building benchmarking,” says Doug Hodge, former CEO of PIMCO.
“Measurabl allows property investors, owners, and managers to better understand building operations, make investment decisions, and comply with investor and regulatory reporting requirements,” said Jake Fingert, General Partner at Camber Creek, who led the round.
With the Series A funding, Measurabl will put more resources behind a global expansion, including a newly opened UK office, functionality on the software to support international clientele, and our network of partners and integrators to continuing providing the best platform possible to manage ESG data.
To learn more about how Measurabl can work for you: