San Diego San Diego software startup Measurabl raised a $7 million Series A financing round led by Camber Creek, a venture capital firm that invests primarily in real estate technology, the company said April 16.
Measurabl’s software platform is used by real estate operators for sustainability data management, benchmarking and reporting.
In addition to Camber, which has offices in New York and Washington D.C., U.K.-based real estate tech investor Concrete, real estate asset manager DivcoWest, Salesforce’s strategic venture arm Salesforce Ventures, San Francisco-based VC firm Sway Ventures and returning investors Borealis Ventures and Impact Engine, which are based in Boston and Chicago, respectively, participated in the financing.
The San Diego-based company said it will use the money to fund its global expansion, including a newly opened office in London, and continue to improve the functionality of its software.
The more than 26,000 properties tracked via the Measurabl platform include traditional office and industrial buildings, sporting venues, universities, data centers and malls, the company said. In total, more than 5 billion square feet of property across 67 countries are in the company’s database, Measurabl said.
“Measurabl allows property investors, owners, and managers to better understand building operations, make investment decisions, and comply with investor and regulatory reporting requirements,” Jake Fingert, general partner at Camber Creek, said in the funding announcement.
Tracking data on sustainability — also referred to by the acronym ESG, for “environmental,” “social” and “governance” — is becoming increasingly important in real estate as operators of commercial properties seek ways to monitor and improve the impacts of their buildings.
Measurabl CEO Matt Ellis founded the company after five years at commercial real estate services company CBRE, where he led the company’s Sustainability Practice Group in the western U.S., implemented its global carbon neutrality program and served as director of sustainability solutions.