Today, we are really excited to announce our $19M Series A led by Fifth Wall. This brings our total funding to over $24 million, and includes participation by some of the largest real estate owners in the country, including Rudin Management, SOJA Ventures (the Swig Family/Brown Harris Stevens/Halstead), the Strykers of Friedman Management, as well as MCJ Collective, Derive Ventures, Helium-3, Silence VC, The Cannon Project, Soma Capital, XY Ventures, and Waterman Ventures. Also included are our existing investors: Initialized Capital, Notation Capital, Susa Ventures, and NextView Ventures.
This fundraising round is a culmination of the progress we’ve made over the last couple years in transitioning from a small building controls startup to the largest and – increasingly – default building control platform in the country. This growth is really a testament to the day in and day out progress our team has made over the last half decade making buildings throughout the country more energy efficient, affordable, and better places to live.
Here’s where we stand today:
Installed in 4,500+ buildings from Chicago and Boston to New York and DC
- Reduced fossil fuel consumption in each building by over 20%
- Made our buildings more comfortable and affordable places to live
- Taken the equivalent of over 100,000 cars of carbon emissions off the road
Climate is a global problem that requires a global, coordinated response. Over 45% of carbon emissions comes from how buildings operate. It simply is not possible to address the climate crisis without addressing how buildings operate. Jeff, Lee, and I are so proud of the work our team has done to not only make the most effective building energy control platform, but to do so in a way that also incentivizes property managers and owners at scale to deploy it. We call it the win/win strategy to reaching climate goals: we create technology that pays for itself in months, makes managing buildings easier, makes tenants more comfortable, AND drives the largest carbon reduction in real estate history.
The vast majority of the US’s 12 million buildings are running on outdated control infrastructure, resulting in the majority of the country’s carbon emissions. We are so excited to work with Fifth Wall and their incredible base of commercial real estate partners to help upgrade the nation’s building control infrastructure at scale and lead the world in making the US the world’s most climate friendly place to live and work.
Co-founder & Chief Growth Officer