Washington D.C.-based smart building platform Aquicore has secured $14 million in new funding in a round led by Keyframe Capital Partners with additional participation by A/O Proptech and The Westly Group.
The newest round of funding adds to previous investments from Navitas Capital and FifthWall and brings Aquicore’s total capital raised to $33 million. The firm will use its newest funding round to continue advancing its cloud-based platform and expand into the European market.
“The world can’t access the economic or energy related opportunities of efficient buildings without broad proliferation of performance analytics,” said Benjamin Birnbaum, partner at Keyframe Capital who recently joined the Aquicore Board of Directors. “While systems and energy efficiency related NOI opportunities have been apparent for decades to real estate owners and developers, without the data to baseline performance, substantiate capital allocation, and drive change to operating behaviors, progress on optimization has consistently failed to live up expectations. Aquicore is leading the market in changing that. We look forward to what this investment will mean for Aquicore’s ability to accelerate the ways that it creates value for its customers.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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