Cohesion, a Chicago, IL-based SaaS smart building company, raised $6.5m in seed funding.
The round was led by Hyde Park Angels with participation from Frasers Property Group; Raj Gupta, Executive Chairman of ESD Global; Ken Griffin, Citadel founder and CEO; Michael Sacks, GCM Grosvenor CEO and chairman; global proprietary trading and investment firm CMT. As part of the investment, Steve Koch, the former Global Chair of M&A at Credit Suisse and HPA member, is joining Cohesion’s board of directors.
The company intends to use the funds to further invest in its platform.
Founded in August 2018 by Thru Shivakumar, CEO, Cohesion provides an IoT and AI-enabled platform which helps commercial real estate operators integrate their buildings’ systems, enhance tenant experiences, and provide actionable insights.
Clients include The John Buck Company, Transwestern, Frasers Property, and Riverside Investment & Development.
Cohesion is a spin-off venture of ESD, a Chicago-based global engineering design firm at the forefront of next generation building design.