Measurabl, the San Diego-based startup specializing in sustainability reporting, analytics, and solutions, has raised $2 million in Series Seed financing. The round was led by Los Angeles-based Crosscut Ventures with participation from several industry and professional investors. The investment will be used for product R&D, new hires, and growth.
Founded in April 2013 by Matt Ellis, the former Director of Sustainability Solutions at CBRE, Measurabl's cloud-based software automatically aggregates non-financial ('sustainability') data and simplifies the process of disclosing it to third party surveys and benchmarks. Its unique freemium business model, intuitive user interface, and set of open APIs have made it possible for companies around the world to start collecting data and reporting instantly at no cost.
'This investment will allow us to realize our full product vision: to be the world's clearinghouse for non-financial data,' says Ellis. 'Sustainability data is the new coin of the realm. Investors, regulators, and consumers are demanding this information. Measurabl will be at the center of how this information is collected, analyzed, and shared.'
As part of the financing, Crosscut Managing Director, Rick Smith, will join CBRE, the world's largest real estate services provider, and Microsoft, the world's largest software company, on Measurabl's Board of Directors.
'Sustainability disclosure and data management is emerging as an essential business process,' explains Smith. 'Measurabl's incredible adoption in the commercial real estate market and beyond has validated its approach to process simplification while its business model has demonstrated agility and scalability.'
The company's first commercial product for GRESB reporting went through extensive and successful industry pilots in 2013 before commercial release in 2014, and has gone on to wide adoption by the real estate industry, including titans Clarion Partners, CBRE Global Investors, and TA Realty. Measurabl is now used to disclose sustainability performance on behalf of thousands of commercial buildings worth more than $250 billion collectively.
Measurabl is currently piloting its CDP reporting solution with Intuit, VMware, and Jack Morton Worldwide, and recruiting leading companies for the pilot of its GRI reporting solution.
In addition to its reporting capabilities, the company recently launched a utility data aggregation service called Utility Sync, which gives users the ability to automatically collect utility data and push that data to ENERGY STAR at scale. Measurabl has already enrolled hundreds of commercial buildings across North America into its Utility Sync program.
ABOUT MEASURABL
Measurabl is sustainability reporting, simplified. Our automatic data import technology and guided, step-by-step process help companies and organizations complete sustainability reports, collect utility data, benchmark, and improve performance. Measurabl makes it possible for any organization to report on sustainability, regardless of size, expertise or resources. To learn more about Measurabl, please contact info(at)measurabl(dot)com or visit http://www.measurabl.com.