Measurabl, World’s Leading Real Estate ESG Software, Raises $50M in Series C
Measurabl, the world’s most widely adopted ESG (environmental, social, governance) technology platform for real estate, has closed $50 million in Series C venture funding. The round was led by Energy Impact Partners, a top investor in scale-stage energy transformation and decarbonization technologies.
Also participating in this round are real estate private equity pioneer Starwood Capital and top global real estate services companies Colliers and Cushman & Wakefield, and national real estate platform Lincoln Property Company. Repeat investors include S&P Global, Sway Ventures, Salesforce Ventures, Constellation Technology Ventures, and Building Ventures. This latest round brings Measurabl’s total capital raised to $85 million.
With nearly 11 billion square feet of owned and corporate-occupied real estate across 80 countries subscribed to its platform, Measurabl has established itself as the industry-standard for measuring, managing, and disclosing real estate ESG performance.
The company will allocate the additional resources toward new product lines, including data and professional services. Measurabl will also augment and expand its core SaaS offering to meet and exceed customers’ evolving needs related to ESG regulation, decarbonization, climate and transition risk, health and well-being, and capital markets activities—all through a single platform.
“The ESG Era is here,” says Matt Ellis, Founder and CEO of Measurabl. “The potential to decarbonize the world’s largest asset class is an imperative that relies on making accurate ESG data readily available. If we can accomplish this, every real estate transaction —from buying individual buildings to securitizing loans backed by hundreds of assets—can be sustainable, with profound benefits for business and society.”
“Measurabl is one of the most exciting investments we have led” says Lindsay Luger, Partner at Energy Impact Partners. “The complexity of the real estate sector has prevented most companies from scaling. Not Measurabl. But to scale is one thing. To do so serving some of the largest real estate organizations in the world year after year with
high customer satisfaction is a testament to the durability of Measurabl’s product, professionalism and the consensus they’ve achieved within the real estate sector as the industry standard ESG platform.”
Though ESG has been building momentum for years, most real estate owners are just beginning to integrate sustainability into their business. In a 2021 survey of CRE professionals, the majority (81%) agreed ESG is crucial for driving important business decisions. At the same time, while the majority of real estate companies are tracking some level of ESG data, only 63% are “moderately-to-significantly confident” they are able to gather that data.
“Our commitment to sustainability permeates all aspects of our approach to real estate investing” says Katherine Sherwin, Global Head of Real Assets Sustainable Investing for BlackRock. “We have partnered with Measurabl for many years to help implement ESG initiatives across our real estate portfolios, and their data platforms are helping us realise real, measurable benefits in the operational efficiency and sustainability performance of our investments.”
Measurabl’s ESG platform connects information to action, giving customers confidence in their asset- and portfolio-level real estate data so they can benchmark relative to peers, devise strategies to improve performance and differentiate from competitors. Accurate ESG data also enables superior access to the capital needed to implement sustainability initiatives.
“Measurabl has helped our team build a compelling, data-driven narrative behind our ESG efforts and achievements,” said Aaron Binkley, Senior Director of Sustainability at Digital Realty, the largest global provider of cloud- and carrier-neutral data center, colocation and interconnection solutions. “Digital Realty has issued more than $6.3 billion in green bonds since 2015 to sustainably fund our continued growth, underpinned by accurate data provided by Measurabl.”
As the demand for ESG data continues to grow, Measurabl will expand the regions it serves.
“As Corestate looks to expand its ESG data collection and disclosure efforts, the need for a comprehensive ESG management solution continues to intensify,” said Ashley Wester, Senior Associate of ESG at CORESTATE Capital Group GmbH, an investment manager and co-investor with €28 billion in assets under management. “We look forward to developing our innovative ESG approaches with Measurabl’s leading ESG platform.”
Matt Ellis, previously Director of Sustainability Solutions at CBRE, the world’s largest real estate services company, founded Measurabl in 2013 making Measurabl a first mover in ESG technologies for real estate. The company now counts a large swath of US public REITs and global real estate asset managers representing a combined $2 trillion in gross asset value among its subscribers, as well as corporations with significant real estate footprints. Measurabl is the only all-in-one real estate technology platform for measuring and managing ESG in real estate.