Enertiv, Inc., a NYC-based PropTech company that uses data and analytics to enhance building operations in commercial real estate portfolios, closed a $4.25 funding round.
The round was led by venture capital firm Fifth Wall Ventures.
Led by Connell McGill, Co-founder and CEO, Enertiv deploys IoT devices to continuously track every critical piece of equipment and tenant space in a building. The data feeds the company’s Operations Performance System, a comprehensive platform for reducing operating costs and maximizing tenant comfort across real estate portfolios.
The company’s technologies include:
– Enertiv AI (Asset Intelligence) – Machine learning software that identifies and automatically notifies building operators about equipment malfunctions, maintenance needs, energy waste, and indoor environmental issues.
– Enertiv ATB (Automatic Tenant Billing) – Software that automates the traditionally manual and inaccurate tenant submetering process.
– Enertiv E2 – IoT device designed in-house that enables Enertiv to track 200-500 real-time equipment data streams per building.
The technology has been implemented in some of the largest real estate portfolios in the country, including Related Companies and Colliers International.