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Measurabl raises $93M Series D for real estate ESG

May 31, 2023
Illustration of a ruler with smoke coming out of the top, like a smokestack.

Illustration: Allie Carl/Axios

Measurabl, a software company for real estate portfolio management, closed a $93 million Series D, the company announced this morning.

Why it matters: Climate investing giant Energy Impact Partners led the round, reflecting that while the term "ESG" may be under fire politically, that has not dampened enthusiasm for measuring environmental, social and governance metrics in real estate.

Details: Sway Ventures led with EIP.

  • Moderne Ventures, WVV, Suffolk Construction, Broadscale, Camber Creek, Salesforce Ventures, Building Ventures, Constellation Technology Ventures, Concrete Ventures, RET Ventures, Colliers, and Lincoln Property Company participated.

State of play: Software companies serving large asset managers are in hot demand, Megan Hernbroth wrote in Climate Deals in September.

  • That's especially the case for those that analyze and provide data on sustainability measures for physical assets.

Context: New York City is among major global cities that have recently passed laws requiring individual buildings to decarbonize.

  • Buildings account for about 40% of energy-related carbon dioxide emissions.

Of note: Measurabl acquired utility data company WegoWise in an all-cash deal last fall. It also acquired data provider Hatch Data last April.

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