Enertiv, an operational intelligence platform for commercial real estate, has completed its latest preferred equity financing, as new and existing investors backed the company to play a leading role in the decarbonization of the commercial real estate industry. Co-led by Commonweal Ventures and GroundBreak Ventures, the $9 million new capital allows Enertiv to accelerate the development of its environmental, social and governance (ESG) solution.
Enertiv’s building operations experts work hand-in-hand with property teams to reduce resource consumption and operational expenditure. The latest raise positions Enertiv to meet a growing demand for its platform and to further develop the first end-to-end ESG solution, which is built to support a transition from portfolio-level benchmarking, to achieving quantifiable carbon reductions. Enertiv’s ESG module goes beyond utility meter data, providing transparency into equipment and BMS performance, the indoor environment for health and safety, tenant resource consumption, capital investment decision making, and quantifying how assets are being run by in-house property teams and third-party vendors.
“Enertiv is about having access to granular data that identifies where meaningful changes can be made day to day. Enertiv serves as a centralized platform for all ESG reporting, as well as providing real estate operators with the solutions that they need to reduce carbon emissions and optimize performance at the asset level,” said Connell McGill, CEO of Enertiv. “This latest raise will enable us to further develop our capabilities in this area, as we look to meet the growing demand for our technology.”
The new capital will also allow Enertiv to expand existing core software offerings, including maintenance, tenant billing and capital planning and enhance the company’s AI algorithms to further automate insights related to asset level optimization. Any customer adopting Enertiv’s software platform will get the ESG module at no cost through 2022.
