Enertiv, an operational intelligence platform that aims to reduce carbon emissions in commercial real estate (CRE), today announced raising a $9 million funding round led by Commonweal Ventures and GroundBreak Ventures, according to Commercial Observer.
The company says it will use the funding to expand its service software, which is used to provide clients with building resource data and information on “when, where and how to reduce energy.
“Enertiv is about having access to granular data that identifies where meaningful changes can be made day to day. Enertiv serves as a centralized platform for all ESG reporting, as well as providing real estate operators with the solutions that they need to reduce carbon emissions and optimize performance at the asset level,” Connell McGill, CEO of Enertiv, told Commercial Observer.
“This latest raise will enable us to further develop our capabilities in this area as we look to meet the growing demand for our technology,” McGill said.
The raise comes following the Securities and Exchange Commission‘s (SEC) recently proposed environmental impact disclosure ruling, alongside increasing local regulation, which would require companies to begin reporting their carbon emissions to the government watchdog.
Other companies including Measurabl, ClearTrace and Hatch Data are examples of other ESG reporting-focused data providers working to assist clients in this avenue. As this proposal moves forward, and businesses large and small increasingly focus on their carbon emissions, there is lots of opportunity and growth in the market and even more potential outcomes for businesses in the real estate sector.
FinLedger recently sat down with Jason Stanley, Head of Insights at Local Logic, who discussed the SEC’s proposal and potential outcomes for businesses.
In other recent proptech news, Flexspace announced a $6 million seed round to extend its on-demand workspace product. GreenPoint Partners also announced closing its $134 million inaugural real estate tech fund.