“What was once a subjective, warm and fuzzy, nice to have—that is all now objective and essential. Real estate owners need to change their game and embrace the ESG era. Their survival is on the line.”
-Matt Ellis From Green to ESG
Very good founding teams seem to have the advantage of looking back at us from the future where they can clearly glimpse the inevitability of a new market opportunity. The best founding teams accept this evolution and accelerate it through persistence, evangelism, and an ability to convert skeptics into believers. Measurabl’s Matt Ellis, Lance Onken, and their team are tremendous examples of having done both skillfully over the past 10 years in transforming the criticality of ESG performance management in real estate to an essential component of the real estate tech stack.
It’s been an incredible journey to witness Measurabl’s growth. When we made our initial investment in 2017, the company consisted of a dozen people in an old converted San Diego Brewery. Now, Measurabl is a force of over 240 globally distributed people serving more than 1,000 customers managing over 15 billion square feet of real estate in 93 countries. It serves over 40% of all global real estate managers.
In the past year alone we have seen important progress, the company has:
- launched several new products including an ESG Advisory Service
- acquired WegoWise and hatchdata to extend the company’s “meter to market promise”
- executed on a groundbreaking partnership with NASDAQ to enable over 9,000 publicly listed companies to provide actual, operational-level ESG data
- been selected for the Cleantech Group’s 2023 Global Cleantech 100 and named as Energy Stars’ Partner of the Year for an unprecedented fifth year in a row cementing their position as an essential firm in the pursuit of real estate’s decarbonized future.
A fundamental part of our capital allocation strategy is to continue to invest in our portfolio companies throughout their growth as our conviction in their potential and their ability to realize that potential increases. We are grateful for the opportunity to have invested for a fifth time in this terrific team pursuing a remarkable, important and, dare we say it, essential opportunity.
As such, we are thrilled to participate in Measurabl’s $93M Series D co-led by our friends at Energy Impact Partners and Sway Ventures. We look forward to continuing to work with the Measurabl team as they use these funds to cement their position as THE ESG platform for real estate. #forabetterbuiltworld.
We encourage you to learn more about Measurabl here.