When Matt Ellis, the Director of Sustainable Solutions at CBRE, left the largest real estate company in the world to scratch his entrepreneurial itch, the industry bid him farewell as he began his journey to build software that would capture data around the seemingly unmeasurable notion of sustainability. There was no better way for Ellis to solve the problem than by working with real estate owners to build the connection points from the asset and organizational level to one single platform. At first, it was seen as a niche software play in a space crowded with consultants and service providers but Measurabl knew that if it could build software to handle sizable data capture and streamline reporting mechanisms for the age of sustainability, it could win the long game. Fast forward to nearly a decade and sustainability, and new acronyms like “ESG” (which stands for “Environmental Social Governance”), have reemerged as a crucial pillar of expertise and value propositions for the real estate industry. In a sense, ESG is more in vogue than a Bored Ape NFT and more scrutinized than an analyst’s underwriting model - it’s all anyone is talking about in our industry and it’s dominating the headlines and capital flows. After all, curbing climate change is quite important! We are in a new green golden age; the days of corporate jargon and acceptable green washing are gone because now we have the tools to measure energy, water, carbon and pretty much anything else related to the output of a physical structure and benchmark it to its peers. You truly have to put your numbers where your mouth is. As real estate owners and service providers we are not only awake, we are eagerly seeking ways to improve and set the example.
The Lincoln Property Company team has known Matt and the Measurabl team for years. We have helped a number of our largest investor clients acclimate to the software solutions that help capture ESG data across their real estate assets and then streamline the reporting of the information to benchmarking agencies like the Global Real Estate Sustainability Benchmark (GRESB). Our team has also shown deep interest in not only using the technology for our own real estate portfolio but also working with Measurabl to figure out adjacent value propositions like development based embodied carbon calculations OR energy efficiency improvement solutions. We intuitively knew this was the future of the real estate sustainability data capture and that Measurabl had the right team and energy behind it to capitalize. We also knew that once you had all the ESG data in one platform, you could start to derive some really interesting insights and analysis from it. This data is extremely valuable for reports, best-practice suggestions and so much more. We truly believe Measurabl has and will continue to be the system of record for the real estate industry.
To date, Measurabl has executed beautifully and LPC Ventures, the venture capital arm of Lincoln Property Company is thrilled to join in on the momentum behind the business at this critical growth point of Series C financing. Based in San Diego and growing like a weed, Measurabl is poised to take the business to the next level. After attracting marquee real estate and sustainability investors like Energy Impact Investors, Starwood Capital, CBRE, DivcoWest and many more, we know this is the inflection point for Measurabl to radically improve the real estate industry and lead us into the next green revolution.