Measurabl Secures $7 Million In Funding As It Taps Into The Need For Sustainability Data From The Property Investment Community
On the surface the market for carbon and sustainability management software seems like it should be in the doldrums. There has been the dissolution of carbon management policies globally, a shrinkage of the number of sustainability executives and a plateauing in the number of firms issuing sustainability reports using the GRI framework. The refrain “post-sustainability world” captures the fact that a lot of ambition for sustainability has stalled in recent years, as the corporate agenda focuses on initiatives that support short-term profitability and growth. And the firms that still make strong noises about sustainability are often focused on a few core material issues rather than an ambitious sustainability transformation.
But there are still promising segments in this market. On April 16, Measurabl, a provider of software for sustainability data management, benchmarking, and reporting, announced it secured $7 million in Series A funding. Its solution is used by property investors, owners and managers to help them better understand building operations, inform investment decisions and simplify the process of disclosing data to third party benchmarks such as GRESB. It has been resonating with the market: over 26,000 commercial buildings benchmark sustainability performance using the platform. Its client list includes Clarion Partners, Gables Residential, USAA Real Estate Company and CBRE Global Investors.
Measurabl is capitalizing on the interest from the real estate investment community in the environmental, social and governance (ESG) performance of real assets within their investment process. This interest is growing as the sustainability performance of buildings becomes associated with higher rents and more stable occupancy. For example, Measurabl is supporting the firm National Real Estate Advisors in reporting the sustainability performance and achievements of its portfolio as it looks to attract larger investors. Real estate investment trust AvalonBay is using Measurabl to report sustainability data in a consistent way, to help build the trust of investors in the accuracy of the reported data.
So as the property investment community works extra hard to meet real estate investment return expectations, there are good underlying drivers for the sector continuing its interest in real estate ESG data. To learn more about the technology solutions being deployed by real estate investors as they push for better asset performance, tune into our free webinar next month: Real Estate Investors’ Preferences, Priorities And Budgets For Technology In 2018.