Photo of Arie Barendrecht Barendrecht: “Investors, developers and building owners who are here to compete are certainly taking note.”

NEW YORK CITY—An investment group led by Bessemer Venture Partners and Fifth Wall Ventures has acquired a majority interest in WiredScore, which rates technological infrastructure in commercial properties. Deal terms were not disclosed; the sale completes the formal divestment by Jared Kushner, who co-founded the company in 2013 and whose majority stake was reportedly valued at between $5 million and $25 million. Kushner had served as an advisor to WiredScore until assuming a position with the Trump administration earlier this year.

“Buildings are no longer just a protection against elements: they are a nexus of connectivity,” says Brendan Wallace, CEO and co-founder of Fifth Wall Ventures, a Los Angeles-based venture capital firm that invests in real estate technology. “WiredScore is the industry standard, providing the most dynamic measure for that essential technological capacity.” The company’s standard for evaluating connectivity, Wired Certification, has been employed for the Empire State Building in New York City, the Willis Tower in Chicago and the Shard in London, along with development projects including Duo Tours in Paris and Hudson Yards on Manhattan’s Far West Side.

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