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June 2, 2023

ESG platform Measurabl raises $93 million

Total funding is now over $170 million

Measurabl, a startup revolutionizing the environmental, social, and governance (ESG) data landscape in the real estate sector, has announced an impressive achievement today. The company successfully raised $93 million in a Series D funding round, co-led by Energy Impact Partners and Sway Ventures. This round was oversubscribed, with notable participation from Moderne Ventures, WVV, Suffolk Construction, and many others.

The significant funding injection will empower Measurabl to enhance its market-leading ESG technologies, expand into new geographies, and provide the real estate industry with the investment-grade data required to transition towards a sustainable and profitable future. Matt Ellis, CEO of Measurabl, emphasized the company's commitment to delivering comprehensive ESG solutions for real estate businesses in an interview with TechCrunch.

Measurabl, founded in 2013 by Matt Ellis, a former director of sustainability solutions at CBRE, has gained prominence within the thriving ESG startup ecosystem. The platform offers a range of tools that facilitate the management, benchmarking, reporting, and tracking of sustainability metrics throughout the real estate sector. From optimizing building-level operations to enabling data-driven decision-making at the executive level, Measurabl empowers businesses to prioritize environmental, social, and governance factors.

The platform's capabilities are diverse and adaptable. Measurabl's technology automates the collection of data from utilities, encompassing electricity, water, fuel, district, and waste. Furthermore, it provides the means to integrate social and governance documents alongside environmental data, enabling comprehensive reporting and analysis.

Sway Ventures' General Partner, Brian Nugent, highlighted the critical importance of Measurabl's solutions in streamlining operations and gaining a competitive advantage in an increasingly data-driven world. He emphasized that Measurabl's innovative approach to data management is essential for investment-grade reporting and analysis, given the real estate industry's move towards a more sustainable future.

Despite potential obstacles such as recent political challenges faced by the ESG market, Measurabl's successful financing underscores the enduring appetite for ESG initiatives. According to a Dow Jones survey, ESG investments are projected to more than double in the next three years, representing 15% of all investments by 2025. Although market dynamics can fluctuate, Measurabl's momentum, driven by its broad customer base, with over 1,000 customers and 40% adoption among global real estate asset managers, suggests a sustained demand for its services.

The real estate industry faces mounting pressure to transform, particularly due to municipal-level carbon emissions regulations. Buildings contribute approximately 39% of global emissions, stemming from both the manufacturing of construction materials and building operations. Failure to meet climate and efficiency standards could render $14 trillion of buildings uninsurable within the next two decades, according to estimates from the U.N. climate conference COP26.

As the world's most widely adopted ESG data management platform for real estate, Measurabl plays a crucial role in the industry's transition. Customers utilize the platform to decarbonize buildings, mitigate climate risks, comply with regulations, and evaluate sustainability factors in real estate transactions.

Measurabl's latest funding milestone is a testament to its industry-leading position and the increasing recognition of ESG's importance in the real estate sector. With a strong financial foundation, Measurabl is well-equipped to advance its technological solutions, expand its market reach, and support the real estate industry's journey towards sustainable practices and profitable outcomes.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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