Measurabl, the San Diego firm that says it’s the most widely used ESG platform for real estate, raised $50 million in Series C funding from backers including some of the industry’s biggest companies..
Barry Sternlicht’s Starwood Capital Group, the real estate services firms Colliers and Cushman & Wakefield, and Lincoln Property Company, were first-time investors, according to a statement from Measurabl. Energy Impact Partners led the round, which also tapped existing investors S&P Global, Salesforce Ventures, Sway Ventures, Constellation Technology Ventures and Building Ventures.
Measurabl enables environmental, social and governance data management, benchmarking and reporting for the real estate industry. It tracks the sustainability of all dimensions of a real estate business, from building-level operations to boardroom and capital markets activities, and helps companies accurately disclose ESG performance.
The company, which didn’t offer a valuation, will use the Series C funds to expand and launch new services “to meet rapidly growing global demand for sustainability and decarbonization tools,” it said in a statement.
“The potential to decarbonize the world’s largest asset class is an imperative that relies on making accurate ESG data readily available,” said Matt Ellis, Measurabl’s founder and CEO.
Measurabl says it has a user base representing more than 11 billion square feet of commercial space across 80 nations. It raised $18.7 million in a Series B funds at the start of 2019, a round led by Sway Ventures.