The Real Deal New York

This real estate sustainability startup just closed on a $19M funding round

Measurabl, led by former CBRE broker, has now raised $30M in venture capital
By Meenal Vamburkar | January 16, 2019 08:00AM

Measurabl CEO Matt Ellis

Measurabl — a data management startup that’s worked with commercial real estate firms on sustainability goals — closed $18.7 million in Series B funding.

Sway Ventures, which participated in Measurabl’s Series A, led the latest funding round. Other participants included Camber Creek, which led the startup’s Series A round; Building Ventures; Concrete Ventures; and S&P Global and Constellation Energy Technology Ventures, the venture investing arm of Exelon Corporation.

The latest infusion brings Measurabl’s total raise to $29.6 million, according to Crunchbase.

Measurabl, founded in 2013 by former CBRE director of sustainability Matt Ellis, reports environmental, social and governance (ESG) metrics. In the U.S. Measurabl covers about 7 percent of commercial floorspace, the company said in a statement. It claims that more than 30,000 buildings across 70 countries measure performance using the platform. According to its website, Measurabl charges clients up to a base rate of $2,500 a month for its platform, and offers a suite of reports on top of it.

The company said it will use the Series B funding for research and development, partnerships and expanding its platform to Asia.

Measurabl has worked with companies including Clarion Partners, CBRE Global Investors, Boston Properties and AvalonBay Communities. Clarion, for example, used the platform to report sustainability performance to shareholders.