Measurabl Closes $50 Million Series C, Expands World’s Leading ESG Tech Platform for Real Estate
SEPTEMBER 14, 2021
Measurabl, the world’s most widely adopted ESG (environmental, social, governance) technology platform for real estate, announced today it has closed $50 million in Series C funding. The funds will accelerate the expansion of Measurabl’s platform and support the launch of new services to meet rapidly growing global demand for sustainability and decarbonization tools. The round was led by Energy Impact Partners, a global investment firm leading the transition to a sustainable energy future.
Repeat investors included S&P Global, Salesforce Ventures, Sway Ventures, Constellation Technology Ventures, and Building Ventures. New investors included an affiliate of Starwood Capital Group, a global private investment firm focused on real estate, two of the world’s top real estate services companies Colliers and Cushman & Wakefield, national real estate platform Lincoln Property Company, and individuals from Stone Point Capital, a private equity firm that focuses on the financial services industry.
“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. When we 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’s ESG platform is the only technology solution that connects information to action across the entire real estate experience, from the most fundamental operational aspects of buildings in the boiler room all the way to capital markets activities conceived in the boardroom. It is also the only real estate ESG platform to have achieved mass global adoption. As a result of this unique product depth and scale, Measurabl customers have unique insights into peer relative performance, can create credible disclosures, and can identify pathways to improve performance. The new funds will go toward augmenting Measurabl’s regulatory compliance, decarbonization, climate and transition risk, health and well-being, and capital markets services.
“It is clear to us that ESG measurement is rapidly becoming table stakes for the built environment not just because the energy transition is important, but because ESG actions drive material asset value appreciation” says Lindsay Luger, Partner at Energy Impact Partners. “Measurabl has built the preeminent ESG data management solution for the real estate industry and we are excited to help fuel their expansion into new markets and geographies.”
“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 realize real, measurable benefits in the operational efficiency and sustainability performance of our investments.”
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, but only 63% are “moderately-to-significantly confident” they are currently able to gather the amount and quality of data required to do so.
“Measurabl is a pioneer in real estate ESG and continues to lead in this space,” says Richard Mattison, President of S&P Global Sustainable1. “Objective and comparable ESG reporting and data is of increasing importance to companies and investors focused on the real estate sector, and we were motivated to be early supporters of Measurabl and are delighted to support its ongoing growth. Through investing in ESG innovation like Measurabl, we continue to broaden our support for companies and investors as they face a new and emerging operating landscape focused on sustainable and resilient outcomes.”
“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.”
Matt Ellis, previously Director of Sustainability Solutions at CBRE, founded Measurabl in 2013, making Measurabl a first mover in ESG software 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.
About Measurabl Measurabl is the world’s most widely adopted ESG (environmental, social, governance) data management solution for commercial real estate with more than 11 billion square feet of commercial real estate across 80 countries subscribed. Measurabl helps companies measure, manage and disclose ESG performance, assess exposure to physical climate risk, and act on decarbonization and sustainable finance opportunities. Learn more at measurabl.com.