who led the Series A, Building Ventures, Concrete Ventures, Impact Engine, and DivcoWest. Major new investors included Constellation Technology Ventures, the venture investing arm of Exelon Corporation, and S&P Global, a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets.
“We’re heading towards a convergence where ESG indicators are held in comparable esteem to traditional financial metrics,” says Matt Ellis, Measurabl’s Founder and CEO. “As this new market reality takes hold, every real estate transaction – from investment to lending, appraisal to insurance, leasing to CapEx – will require easy access to accurate ESG indicators. Measurabl is building the digital infrastructure to enable this market transformation.”
ESG 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.
“We’re heading towards a convergence where ESG indicators are held in comparable esteem to traditional financial metrics.”
– Matt Ellis, Measurabl’s Founder & CEO
“The market has grown considerably in its ability to integrate ESG into its decision-making and investment processes,” said Martina Cheung, President of S&P Global Market Intelligence and lead for the company’s ESG product strategy. “Measurabl is an early mover in the CRE ESG data space with a proven track record and opportunity to further establish itself as a key source of data for businesses and asset managers. We look forward to further exploring opportunities with Measurabl in order to provide our clients with bolstered capabilities in measuring ESG considerations.”
ESG has become a critical point of differentiation and competitive advantage for real estate owners who can use it to gain preferred access to capital markets as well as lending and insurance products. For example, Boston Properties, the largest office REIT in the U.S. and an early Measurabl adopter, recently oversubscribed a $1 billion green bond issuance.
“We have led on matters of sustainability for many years including certifying our properties under green standards like ENERGY STAR and LEED, investing in energy efficiency, and disclosing ESG performance through organizations like GRESB,” noted Michael LaBelle, CFO of Boston Properties. “These investments have translated into a high performing portfolio of real estate that is desirable to our clients and delivers superior shareholder value. Our recent green bond issuance is just another example of the importance that ESG holds for Boston Properties.”
“Investors, both institutional and individual, are embracing sustainable investing, not only because they care about our planet, but because they can earn high-quality returns.”
– Doug Hodge, Measurabl Board Member
The adoption of ESG isn’t just in real estate. Corporations, many of whom derive the majority of their environmental impacts from leased or owned real estate, are finding ESG essential to their brand, employee attraction and retention programs, in addition to their bottom line.
“Investing in Measurabl aligns with our commitment to continually develop solutions that empower our customers and communities to reduce their carbon footprint and save money,” said Jorge Acevedo, Senior Vice President, Generation Innovation & Strategy, at Constellation. “Through Measurabl’s innovative platform, we have the potential to better serve new and existing commercial and industrial customers by providing a seamless sustainability reporting platform and more customized energy products and services.”
“The evidence is clear. Investors, both institutional and individual, are embracing sustainable investing, not only because they care about our planet, but because they can earn high-quality returns,” says Doug Hodge, former CEO of PIMCO, former Venture Partner at Sway, and former Measurabl Board Member. “Measurabl is a special company. It is uniquely positioned with the vision and scale to have a positive, transformative impact on how capital is allocated to the real estate markets.”
With our new round, we will be investing in product R&D, partnerships, customer service, and expanding our platform services in Asia, as well as expanding on European and North American markets.
Note: Doug Hodge is no longer on Measurabl’s Board of Directors.