Measurabl offers data-management tools for real estate firms to understand their ESG impact.When Matt Ellis started his career as a commercial real estate broker in 2008, he was primarily focused on making ends meet at the height of the Great Recession. As he was canvassing for clients outside of San Diego, he came across an energy-efficient industrial building that started a five-year journey that led to him spearheading the real estate industry's first global carbon-neutral program.
Major League Baseball, for example, uses the data-management software to track how much water its ballpark operators are using to keep their outfields green, according to Ellis. Even though the league isn't the owner or direct tenant of the ballparks, it's using the software to track its environmental footprint, Ellis said. Real estate insurers, bond issuers, and regulators can also use the software to keep track of the environmental impact of real estate assets they are monitoring.
A fundraise of that size is notable at a time when funding for real estate tech startups, known broadly as"proptech," has collapsed to, compared to $11.4 billion at mid-year 2022, and $10.8 billion mid-year 2021. Measurabl's funding round is one of the largest proptech rounds of the year, and an indication that despite the doom and gloom, investors and customers remain interested in ESG solutions.
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