Measurabl, a California-based environmental, social, governance (ESG) analytics startup, has closed a $50 million Series C funding round to expand its data management solutions for commercial real estate.
The funding round was led by Energy Impact Partners and counted with participation from LPC Ventures, Starwood Capital, S&P Global, Sway Ventures, Salesforce Ventures, Constellation Technology Ventures, and Building Ventures., bringing the total funding raised by Measurabl to $85 million. Abbey Ehman, Head of Sustainability for LPC West, referred to the firm’s decision to participate by stating:
“This investment represents an alignment of our corporate ethos and market forecast. We are committed to measuring, tracking, and improving our performance on ESG benchmarks, and believe Measurabl is the perfect tool to better calibrate our processes. Transparency in data will be crucial to meaningful climate action, and we expect Measurabl to continue to gain market share and bring more solutions to the market.”
A survey conducted by Measurabl suggests that ESG is considered a fundamental aspect of the business decision-making process by 81% of all real estate leading companies. Unfortunately, of all companies and experts surveyed by Measurabl, 37% are not confident of their currency capabilities to gather precise ESG data to achieve their goals. Matt Ellis, Measurabl’s Founder and CEO, said in this regard:
“A lack of transparency into and credibility of ESG claims is a major block to sustainable transformation. We will therefore launch a Data Product so our existing customers and their stakeholders can understand the ESG performance of real estate markets and entities down to individual assets and spaces. So, whether you own, occupy, lend, insure, securitize, regulate or rate, any party to a real estate transaction will be able to apply ESG to their decisions confidently, confidentially, and in the way you see fit.”
With real estate representing the world’s largest asset class, ensuring that its development has a positive impact at the social and environmental levels is becoming a priority for the industry’s leaders. The ESG analytics startup believes it can play a key role in ensuring the industry achieves these goals in the long term, not only by providing valuable data but also by helping to translate it into action.