Measurabl’s founder says his company will use the new funds for product R&D, new hires and growth.
Sep 2, 2014
Dan Kobialka Talkin’ Cloud
San Diego-based startup company Measurabl has raised $2 million in seed funds during a financing round led by investment firm Crosscut Ventures.
Measurabl provides cloud-based sustainability reporting and analytics software that “automatically aggregates non-financial (‘sustainability’) data and simplifies the process of disclosing it to third-party surveys and benchmarks.”
Matt Ellis, Measurabl’s founder, said the seed funds will allow his company to invest in product research and development, new hires and growth.
“This investment will allow us to realize our full product vision: to be the world’s clearinghouse for non-financial data,” he said in a prepared statement. “Sustainability data is the new coin of the realm. Investors, regulators and consumers are demanding this information. Measurabl will be at the center of how this information is collected, analyzed and shared.”
Crosscut Managing Director Rick Smith also will join Measurabl’s board of directors as part of the financing.
“Sustainability disclosure and data management is emerging as an essential business process,” Smith said. “Measurabl’s incredible adoption in the commercial real estate market and beyond has validated its approach to process simplification, while its business model has demonstrated agility and scalability.”
What does the financing mean for Measurabl and its customers?
The Measurabl solution enables users to import data from any source.
Measurabl’s cloud-based software is now used to provide sustainability performance details for thousands of commercial buildings worth more than $250 billion collectively, and the San Diego-based startup continues to explore ways to enhance its solution.
“The long-term impact of the new investment will allow us more hires and a longer runway to scale our proven solution,” a Measurabl spokesperson told Talkin’ Cloud. “As of now, we hope to become self-sufficient/self-financing over the next 12 to 18 months.”
Measurabl is currently piloting its CDP reporting solution with Intuit (INTU), VMware(VMW) and Jack Morton Worldwide and recruiting leading companies for the pilot of itsGRI reporting solution. It also has launched a utility data aggregation service calledUtility Sync, which gives users the ability to automatically collect utility data and push that data to ENERGY STAR at scale.