California-based Buildings IOT secured a $10 million investment from Keyframe Capital, the former said in a release.
The company provides building operators with solutions that increase building health and reduce utility costs, energy consumption, carbon emissions and cyber risk.
“Building stakeholders are scrambling to adjust to a post-pandemic world, and Buildings IOT is well-positioned to assist them in this period of critical transition,” said Ben Birnbaum, partner at Keyframe Capital. “Based on the company’s maturity and deeply unique technology, we believe that the Buildings IOT team is poised to deliver outstanding value to the commercial real estate market that is seeking more efficient, secure, and healthy environments.”
Buildings IOT offers an advanced building analytics, automation, and management platform as a service to building operators and service providers, primarily through its onPoint and IOT Jetstream products.
The firm currently manages 220 million square feet of building space in the data center, utilities, government, pharmaceutical, retail, commercial real estate and higher education industries.
Buildings IOT installs and configures building control systems for operational areas such as HVAC, access control and IT infrastructure.
“As vaccinations increase and employees return to out of home workspaces, building owners and managers are accelerating efforts to make their spaces safe, secure, and compliant,” said Brian Turner, CEO of Buildings IOT. “This investment enables us to more quickly scale our data management platforms and our full suite of building services, ultimately allowing us to reach more customers and have a greater positive impact on the built environment.”
“The high energy needs of commercial buildings often place a great strain on the nation’s grids during peak periods and are responsible for a staggering amount of emissions,” added Turner. “At the same time, it is critical that energy efficiency not come at the expense of indoor air quality, especially as healthy air is top-of-mind for everyone returning to indoor office spaces. Buildings IOT provides real solutions for greater energy efficiency and carbon reduction while also making it possible to monitor indoor air quality levels and change ventilation strategies immediately if necessary. As a result, building owners see an improvement in their operating costs, while tenants report feeling more comfortable and productive at work.”
The funding allows the company to scale up its sales team, increase product and technology development. Building IOT has offices in New York City and Canada and is headquartered in the Bay Area.