Measurabl, a San Diego, CA-based startup that provides sustainability reporting solutions, raised $2m in seed financing.
The round was led by Los Angeles-based Crosscut Ventures with participation from industry and professional investors. In conjunction with the funding, Crosscut Managing Director, Rick Smith, will Measurabl’s Board of Directors.
The company intends to use the funds for product R&D, new hires, and growth.
Founded in April 2013 by Matt Ellis, the former Director of Sustainability Solutions at CBRE, Measurabl provides cloud-based software that automatically aggregates non-financial (sustainability) data and simplifies the process of disclosing it to third party surveys and benchmarks. It offers a set of open APIs for companies around the world to start collecting data and reporting.
The company’s first commercial product for Global Real Estate Sustainability Benchmark (GRESB) reporting, which went through industry pilots in 2013 before commercial release in 2014, has been widely used by the real estate industry, including Clarion Partners, CBRE Global Investors, and TA Realty.
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In addition, Measurabl is currently piloting its Carbon Disclosure Project reporting solution with Intuit, VMware, and Jack Morton Worldwide, and recruiting other companies for the pilot of its Global Reporting Initiative solution.
The company recently launched a utility data aggregation service called Utility Sync, which gives users the ability to automatically collect utility data and push that data to ENERGY STAR Portfolio Manager® – the industry standard building benchmarking and reporting platform.