ESG Software Vendor Measurabl Closes $93M Series D Funding Round

Measurabl, which has ESG-related technology for real estate, announced that it had closed on $93 million in a Series D funding round.

“The oversubscribed round was co-led by Energy Impact Partners and Sway Ventures,” the company said in a press release. Also participating, according to the company, were Moderne Ventures, WVV, Suffolk Construction, Broadscale, Camber Creek, Salesforce Ventures, Building Ventures, Constellation Technology Ventures, Concrete Ventures, RET Ventures, Colliers, and Lincoln Property Company.

The company raised the funds to support expansion of its technical solutions, further international expansion, and formation of additional partnerships.

“This funding allows us to further enhance our market-leading ESG technologies, expand to new geographies, and ensure the real estate industry has the investment grade data necessary to transition to a sustainable, profitable future for all,” the release quoted Matt Ellis, Measurabl co-founder and CEO.

Measurable claims that its software is used by clients to manage and report on ESG for more than 16 billion square feet of commercial and residential real estate across 93 countries.

“As a global owner with a sophisticated decarbonization and ESG strategy, Oxford Properties has partnered with Measurabl for years to unify and streamline our sustainability efforts,” the report quoted Hala El Akl, senior director of ESG and operations at Oxford Properties, a global asset manager with $87 billion in assets under management.

Ben Liao, global head of technology strategy and innovation at Colliers, was quoted in the release as having said, “Colliers has worked with many notable ESG platforms around the world. Measurabl offers some of the best technology available in our industry today.”

The company said that it would continue to consolidate ESG-related tools and services into its technology.

“This includes integrating its Asset Optimization and Enterprise ESG products, and investing in a globalized customer support and partner network,” the release said. “Measurabl will also continue its international expansion, emphasizing new markets like Asia-Pacific in addition to mature markets in Europe and North America.”

One of the approaches Measurabl has taken to expand its technology has been to acquire complementary businesses like Hatch Data and WegoWise in 2022.

It’s been a time of change for CRE ESG of late. Blackstone company Legence acquired ESG consulting firm LORD Green Strategies last December.

There’s also been challenges and questions that have appeared, like the need to be cautious when looking at carbon offsets as a way to reduce a carbon footprint.