Logical Buildings Closes $3.5M Series C-1 Financing

logical_buildingsLogical Buildings, a Livingston, N.J.-based smart building and grid-edge energy management software company, completed a $3.5m Series C-1 funding.

The company intends to use the funds to further develop its platform, expand adoption across new geographies and sign new partnerships with utilities, IoT platforms and telecommunications companies.

Led by Jeff Hendler, CEO, and and David Klatt, senior vice president of operations, Logical Buildings is a smart building technology software developer, IoT and DER systems integrator, behavior management, and smart building services provider. The integration of the company’s products and services in large multifamily and commercial properties materially reduces operating expenses, generates revenue from existing mechanical equipment, enables Wi-Fi connectivity, and improves building operations/fault detection/resiliency.
New clients include companies such as Rose Associates, Stonehenge, Bozzuto, Dermot, and L+M Development Partners. Expanding clients include AvalonBay, Invesco and Greystar.
Logical Buildings’ goals for 2019 call for continued growth within its existing Northeast and West Coast markets, as well as expansion to Texas, Illinois, Florida, and Canadian deregulated markets such as Ontario.

FinSMEs

14/02/2019

 

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