NEW YORK, Jan. 25, 2018 /PRNewswire/ -- Enertiv, Inc., a PropTech company that uses data and analytics to enhance building operations in commercial real estate portfolios, has closed a $4.25 funding round, including investment by venture capital firm Fifth Wall. Known as a "Kingmaker" in the industry, Fifth Wall is the largest venture fund focused on technology solutions for the Built World.
"We couldn't ask for a better partner than Fifth Wall," said Connell McGill, Enertiv's Co-founder and CEO. "Nobody knows the people and trends that shape the commercial real estate industry better. This partnership enables us to keep our finger on the pulse of the industry and continue to deliver value as we scale."
"What impressed us about Enertiv was its ability to unlock large savings in buildings that have historically lacked robust operations management capabilities," said Fifth Wall's Adam Demuyakor. "With potential payback periods of less than a year, the firm's product offerings for multifamily and office landlords are very attractive."
Enertiv deploys IoT devices to continuously track every critical piece of equipment and tenant space in a building. The data feeds the company's Operations Performance System, a comprehensive platform for reducing operating costs and maximizing tenant comfort across real estate portfolios.
The company's technologies include:
- Enertiv AI (Asset Intelligence) – Machine learning software that identifies and automatically notifies building operators about equipment malfunctions, maintenance needs, energy waste, and indoor environmental issues.
- Enertiv ATB (Automatic Tenant Billing) – Software that fully automates the traditionally manual and inaccurate tenant submetering process.
- Enertiv E2 – IoT device designed in-house that enables Enertiv to affordably track 200-500 real-time equipment data streams per building.
The technology has been implemented in some of the largest real estate portfolios in the country, including Related Companies and Colliers International, facilitating an average 10-15% decrease in energy and maintenance-related operating expenses.
About Enertiv: Enertiv goes beyond visualizing data from a BMS or a few meters. The company tracks every critical piece of equipment and indoor environmental condition to deliver targeted insights around building operations and tenant comfort in real time. This level of transparency makes buildings easier to operate, healthier to occupy, and more profitable to own.
About Fifth Wall Ventures
Fifth Wall Ventures is the largest venture capital firm focused on technology solutions for the Built World. Fifth Wall is connecting the world's largest owners and operators of real estate with the entrepreneurs and innovators redefining how the world interacts with its physical environment. With $250M in assets under management, Fifth Wall is backed by CBRE, Lennar, Hines, Equity Residential, Prologis, Macerich, Host Hotels, and Lowe's Home Improvement. Fifth Wall invests in businesses from all sectors of the Built World, including retail, industrial, hospitality, multi-family, homebuilding, office, and brokerage and structures real estate partnerships that accelerate the growth of its portfolio companies. For more information on Fifth Wall Ventures, its partners and portfolio, visit https://fifthwall.vc.
Comly Wilson
Director of Digital Marketing
Enertiv
646-350-3525
[email protected]
SOURCE Enertiv
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