Funding to Support Building Technology Company in Scaling Operations to Strengthen Built Environments as Public Spaces Reopen.
As retail and office buildings focus on optimizing equipment performance and providing healthy indoor environments, Buildings IOT announced that the company secured a $10 million growth investment with Keyframe Capital. As a provider of software, services, and solutions for every aspect of building systems management, Buildings IOT streamlines building data and makes it easier and more cost effective for owners and operators to maintain assets throughout their lifespan. The company, headquartered in California’s Bay Area with offices in New York City, Canada, and a distributed North American workforce, provides operators with simple and actionable solutions that increase building health and reduce utility costs, energy consumption, carbon emissions, and cyber risk.
“Building stakeholders are scrambling to adjust to a post-pandemic world, and Buildings IOT is well-positioned to assist them in this period of critical transition,” explained Ben Birnbaum, partner at Keyframe Capital. “Based on the company’s maturity and deeply unique technology, we believe that the Buildings IOT team is poised to deliver outstanding value to the commercial real estate market that is seeking more efficient, secure, and healthy environments.”
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Buildings IOT offers an advanced building analytics, automation, and management platform as a service to building operators and service providers, primarily through its onPoint and IOT Jetstream products. Managing 220 million square feet of building space in the data center, utilities, government, pharmaceutical, retail, commercial real estate and higher education industries, the company delivers software and services in master systems integration, building systems contracting, building systems service, and annual subscriptions. As a Master Systems Integrator, Buildings IOT installs and configures building control systems for operational areas as diverse as HVAC, access control and IT infrastructure; Buildings IOT then brings the data from each of those systems together within a single management interface command-and-control system.
“As vaccinations increase and employees return to out of home workspaces, building owners and managers are accelerating efforts to make their spaces safe, secure, and compliant,” explained Brian Turner, CEO of Buildings IOT. “This investment enables us to more quickly scale our data management platforms and our full suite of building services, ultimately allowing us to reach more customers and have a greater positive impact on the built environment.”
Buildings IOT captures the opportunities inherent in collecting, securing, modeling, transforming, and visualizing building data. In addition to helping clients sift through the deluge of information, the company also offers services that enable smart buildings to become highly functional, healthy, and attractive for occupants. While improving the value of their building assets, Buildings IOT clients can help reduce the country’s commercial building energy usage and emissions, which utilize a reported 71 percent of the nation’s electricity, 54 percent of the natural gas, and emit 40 percent of the greenhouse gases.
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“The high energy needs of commercial buildings often place a great strain on the nation’s grids during peak periods and are responsible for a staggering amount of emissions,” added Turner. “At the same time, it is critical that energy efficiency not come at the expense of indoor air quality, especially as healthy air is top-of-mind for everyone returning to indoor office spaces. Buildings IOT provides real solutions for greater energy efficiency and carbon reduction while also making it possible to monitor indoor air quality levels and change ventilation strategies immediately if necessary. As a result, building owners see an improvement in their operating costs, while tenants report feeling more comfortable and productive at work.”
“Buildings are extremely complex ecosystems with dozens of systems running at all times,” continued Birnbaum. “They have been starved of operational efficiency by equipment and controls manufacturers for decades, which has led to massive energy and cost inefficiency in buildings that the world is finally beginning to wake up to. While many building owners have ambitious, publicly-stated sustainability goals, and others will follow as they face regulatory pressure to do so, they often struggle to execute on action plans to achieve them. Buildings IOT provides the technology and services to enable them to achieve these goals.”
The funding allows the company to scale up its sales team, increase product and technology development, and help clients monetize their data streams as tenants begin to inhabit buildings once again.
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