LPC Ventures Joins Series C Funding for Measurabl, World's Leading ESG Data Analytics Company
LPC Ventures, the venture capital arm of national real estate firm Lincoln Property Company, today announced it has joined the Series C funding round for Measurabl, the world's most widely adopted ESG data management company for commercial real estate. The investment is part of the company's $50 million funding round designed to support the company's growth.
The commitment marks another strategic investment by LPC Ventures in an innovative startup, designed to provide tenants with direct access to the latest innovations in property management operations. LPC Ventures invests in cutting-edge technology that benefits clients and partners, expanding innovation initiatives at properties that Lincoln Property Company develops and manages.
"LPC is excited to continue to support Measurabl as the leading ESG data analytics company and continue to put our efforts behind strengthening our clients' and our own ESG efforts," said David Binswanger, Senior Executive Vice President of LPC.
Measurabl, the industry-standard platform for measuring, managing, and disclosing real estate ESG performance, serves subscribers across 80 countries and 11 billion square feet of owned and corporate-occupied real estate. The latest round of funding will allow the company to invest in new product lines including data, professional services, and enhancing its platform to address ESG regulation, decarbonization, climate and transition risk, and capital markets activities.
"LPC advocated for and integrated ESG into its real estate platform early and aggressively," said Matt Ellis, Measurabl's Founder and CEO. "As a result, we were highly aligned on Measurabl's vision out of the gate. The fact that Measurabl was already deployed to a number of LPC-managed properties made growing our relationship on the investment side an obvious next step. I look forward to working with LPC to advance ESG best practices and drive action in our industry."
Lincoln Property Company, one of the largest and most diversified real estate companies in the United States, serves a growing clent base in all major markets nationwide, as well as in Europe and Mexico. The company is committed to achieving success in ESG at every level of the organization, in recognition that its decisions have long-term impacts on building occupants and communities in which LPC operates.
"This investment represents an alignment of our corporate ethos and market forecast," said Abbey Ehman, Head of Sustainability for LPC West. "We are committed to measuring, tracking, and improving our performance on ESG benchmarks, and believe Measurabl is the perfect tool to better calibrate our processes. Transparency in data will be crucial to meaningful climate action, and we expect Measurabl to continue to gain market share and bring more solutions to the market."
A 2021 survey of commercial real estate professionals conducted by Measurabl found that 81 percent of real estate leaders believe ESG is crucial for driving important business decisions. However, only 63% of those leaders are "moderately-to-significantly confident" they are able to gather ESG data required to make informed business decisions, according to the survey.
The latest round of funding brings Measurabl's total capital raised to $85 million. It was led by Energy Impact Partners, a top investor in scale-stage energy transformation and decarbonization technologies.
LPC Ventures joined other participants including Starwood Capital, real estate services companies Colliers, and Cushman & Wakefield as well as repeat investors S&P Global, Sway Ventures, Salesforce Ventures, Constellation Technology Ventures and Building Ventures.
LPC Ventures offers a full range of technology services for clients with complex innovation goals. The division includes an investment arm, capital formation group, real estate advisory, and strategy teams, focusing on areas including data platforms, healthcare, innovative operating business models, and sustainability software. Its portfolio features more than a dozen innovative companies.
About Lincoln Property Company
Lincoln Property Company, founded in 1965 by its chairman Mack Pogue, is a privately-owned real estate firm involved in real estate investment, development, property management and leasing worldwide. Lincoln has offices in all major markets of the U.S. and throughout Europe. Lincoln's cumulative development efforts have produced over 143 million square feet of commercial space and over 216,000 multifamily residential units. Lincoln Property Company is one of the largest office owner and managers in the United States. Access www.lpcwest.com for more information.
Measurabl is the world's most widely adopted ESG software for commercial real estate. More than 11 billion square feet of commercial property valued in excess of USD $1 trillion across 80 countries use Measurabl to measure, manage, and report environmental, social, and governance performance. ESG data is used to exceed tenant expectations, comply with government regulation, and access capital markets. Learn more at http://www.measurabl.com.
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