Measurabl’s $50 Million Funding Injection Highlights ESGTech Is On A Massive Growth Trajectory
On September 14th, Measurabl, an environmental, social and governance (ESG) software supplier, announced it had closed $50 million in a Series C funding led by Energy Impact Partners, a firm focused on investments related to optimizing energy consumption. Founded in 2013, Measurabl has established itself as a prominent player in the ESG software market for the real estate industry, working with investors such as Boston Properties and Tishman Speyer, and building occupiers such as Salesforce. The vendor is capitalizing on the growing interest amongst real estate executives in improving the ESG performance of buildings, with investors targeting higher returns and tenants looking to reduce their carbon footprint.
According to Measurabl, the investment will go toward continued expansion of its ESG platform and support the launch of new services to meet demand for sustainability and decarbonization tools. With Measurabl and others providing an ESG platform, the value is in simplifying the collection, management, and reporting of relevant data and analysis, as well as providing a mechanism for benchmarking, something that many companies desperately long for to understand how they stand in the market.
For reporting and disclosures, companies all around the globe are facing an overwhelming number of requests for ESG and sustainability data, not just for voluntary reporting like the Global Reporting Initiative, Carbon Disclosure Project, the Global Real Estate Sustainability Benchmark, and Sustainability Accounting Standards Board. Honestly, that’s only the beginning as firms face a tidal wave of new ESG disclosure laws. Soon, companies will need to readily share investor grade data for mandatory disclosure requirements resulting from the proposed EU Corporate Sustainability Reporting Directive and those expected to follow in the US coming from the SEC. What’s this really mean for corporates? Information quality expectations that are on par with financial reporting. The use of ESG platforms is going to be a critical step forward in making that happen.