Cohesion, which focuses on smart building and digital twin SaaS technology, raised $15 million in its Series A financing round co-led by Morgan Stanley Next Level Fund and Hyde Park Angels (HPA), the firm said in a release.
New investors, Three Bridges Private Capital and Wintrust Ventures, join seed round investors Singapore-based Frasers Property Group, ESD, Ken Griffin, Citadel Founder and CEO, Michael Sacks of GCM Grosvenor, and Raj Gupta of ESD.
“We were pleased to co-lead Cohesion’s Series A with Next Level Fund’s inaugural investment,” said Alice Vilma, co-portfolio manager of the Morgan Stanley Next Level Fund. “With the support of our corporate partners, Microsoft, Hearst and Walmart, we aim to accelerate Cohesion’s API-first technology platform to disrupt commercial real estate operations.”
Cohesion said that it will use the funds for product and market expansion, including its digital twin technology for optimizing building environment and health.
“Bringing the power and promise of autonomous technology to commercial real estate is more critical today than ever before,” said Thru Shivakumar, co-founder and CEO at Cohesion. “We have the technological capability to connect disparate systems and use big data to make buildings more transparent, healthier, engaging and sustainable. Investing in technology that ensures commercial real estate is a positive contributor to our world is central to our company ethos.”
Cohesion’s patented platform combines the three main factors that impact building operations – the human aspect, building systems and environmental elements – into a single, multi-function management and data platform that simulates building operations to predict outcomes for the rapidly evolving industry.
“We believe there is a need for the solutions Cohesion is creating,” said Cohesion Board Member Steve Koch, HPA member and former global chair of M&A at Credit Suisse. “By connecting the things that matter – whether it is improving health through effective air quality management, supporting ESG and sustainability programs, or delivering insights – Cohesion is poised for success through its next generation technology.”