Aquicore Announces $14M in New Funding as Demand in Smart Building Technology Increases Amidst Economic Downturn
Fast-growing Washington, D.C. proptech company Aquicore commits new financing to leverage AI and smart building analytics to make buildings smarter and more resilient.
WASHINGTON, July 29, 2020 /PRNewswire-PRWeb/ -- Aquicore, a leading platform for digitizing real estate operations and optimizing buildings, today announced it 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. This newest round of funding adds to previous investments from Navitas Capital and FifthWall and brings Aquicore's total capital raised to $33 million.
The financing builds on an exceptional year for Aquicore, which saw rapid expansion, key board appointments, an acquisition and accelerating market momentum. Aquicore will use its newest funding round to continue advancing its cloud-based platform and expand into the European market.
"Aquicore is well on its way to becoming the de facto end-to-end solution for building performance analytics," said Benjamin Birnbaum, partner at Keyframe Capital who has joined the Aquicore Board of Directors. "We're excited to join a great investor group to get behind the team that is unlocking the far-reaching benefits of organized and expansive data for building systems."
"The world can't access the economic or energy related opportunities of efficient buildings without broad proliferation of performance analytics," said Birnbaum. "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."
"We're thrilled to have Aquicore join the A/O PropTech family. With Aquicore, we intensify our journey towards a smarter and greener built world with technology being the enabler for landlords and tenants," said Gregory Dewerpe, founder and managing partner at A/O Proptech.
"With a low barrier to adoption in terms of cost, diversity of analytics features and workflow orchestration, Aquicore has already established itself as a leader in the U.S. and we look forward to accompanying them as they expand to the European market," said Dewerpe. "The timing couldn't be better. With new regulatory initiatives coming into force soon in Europe to reduce carbon emissions, such as RE2020 climate and energy package, Aquicore is a perfect partner platform."
"In these times of uncertainty, empowering teams with actionable and accurate data has become a top priority for business leaders as they reconfigure their plans," said Logan Soya, founder and CEO of Aquicore. "Making building analytics easily adoptable for the world unlocks the promises it has held. We are beyond excited to reach this critical milestone for our company with such incredible customers and industry leaders."
About Aquicore
Aquicore is a smart building platform that enables industry-leading commercial real estate portfolio and property teams to remotely monitor their energy and facilities and transform outdated operations and maintenance routines into sophisticated resource-saving projects. The only industry player built from the ground up as a portfolio-wide solution, Aquicore intelligently links on-site action with financial, energy and operational outcomes, helping executives and property teams know how buildings are performing, where to invest resources, coordinate project execution across a portfolio and measure the impacts of digital solutions across a portfolio. The Aquicore platform is currently deployed with commercial real estate leaders at more than 1,000 commercial buildings nationwide, optimizing more than 275 million square feet of real estate. For more information, visit http://www.aquicore.com. Follow on Twitter @Aquicore.
About Keyframe Capital
Keyframe Capital Partners, L.P. is a New York-based SEC registered investment advisor. The firm's generalist, cross-asset mandate allows it to invest across a diverse range of business models and capital structures. Keyframe looks to build long term partnerships with companies, and to leverage its flexibility to help solve their most complex asset and corporate financing requirements. The firm was established in 2019 and is investing out of its inaugural fund of roughly $250M. Keyframe maintains an affiliation with Cyrus Capital. Please visit http://www.keyframecapital.com for additional information.
SOURCE Aquicore
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