Aquicore, which offers a platform for digitizing real estate operations and optimizing buildings, announced it has secured $14 million in new funding.
In a release, the firm said that the round of funding was led by Keyframe Capital Partners with additional participation by A/O Proptech and The Westly Group. This new round of funding adds to previous investments from Navitas Capital and FifthWall and brings Aquicore’s total capital raised to $33 million.
“Aquicore is well on its way to becoming the de facto end-to-end solution for building performance analytics,” said Benjamin Birnbaum, partner at Keyframe Capital who has joined the Aquicore Board of Directors. “We’re excited to join a great investor group to get behind the team that is unlocking the far-reaching benefits of organized and expansive data for building systems.”
“The world can’t access the economic or energy related opportunities of efficient buildings without broad proliferation of performance analytics,” said Birnbaum. “While systems and energy efficiency related NOI opportunities have been apparent for decades to real estate owners and developers, without the data to baseline performance, substantiate capital allocation, and drive change to operating behaviors, progress on optimization has consistently failed to live up expectations. Aquicore is leading the market in changing that. We look forward to what this investment will mean for Aquicore’s ability to accelerate the ways that it creates value for its customers.”
Aquicore said it will use its newest funding round to continue advancing its cloud-based platform and expand into the European market.
“With a low barrier to adoption in terms of cost, diversity of analytics features and workflow orchestration, Aquicore has already established itself as a leader in the U.S. and we look forward to accompanying them as they expand to the European market,” said Gregory Dewerpe, founder and managing partner at A/O Proptech. “The timing couldn’t be better. With new regulatory initiatives coming into force soon in Europe to reduce carbon emissions, such as RE2020 climate and energy package, Aquicore is a perfect partner platform.”
Headquartered in Washington DC, Aquicore is a smart building platform that enables commercial real estate portfolio and property teams to remotely monitor their energy and facilities. The Aquicore platform is currently deployed with commercial real estate companies at more than 1,000 commercial buildings nationwide, optimizing more than 275 million square feet of real estate.