Building Engines, a provider of building operations software for modern commercial real estate (CRE), has acquired Ravti, a software company for HVAC management. Ravti enables owners, operators and tenants to manage HVAC with a complete inventory view of all HVAC equipment throughout their CRE properties, that helps to streamline and automate lease-driven tenant compliance for HVAC maintenance. Ravti will form the foundation of a new HVAC management module in Building Engines’ Prism software platform.
“Ravti is a disruptive and innovative software company serving CRE,” stated Tim Curran, CEO of Building Engines. “Their HVAC management software automates tedious operational functions and complements the existing Prism modules with extremely valuable insights.”
An average 30% of overall annual operating budgets are directed to HVAC in retail and industrial, while in the commercial office, HVAC is 15-20% of the overall annual operating budget. The need for clear and accurate HVAC data has also been elevated, as systems related to air quality play a central role in health and safety considerations in the wake of the pandemic.
Highlights of Ravti’s capabilities include: digitization, tracking and asset tagging of all HVAC inventory data; Automation of service and maintenance recording; Equipment and vendor marketplace; industry-recognized ASHRAE reporting and automated tenant compliance.
Ravti will remain a stand-alone point solution, as well as becoming a part of Building Engines’ comprehensive Prism platform.