Ecomedes Completes $3.25M Seed Round Led by Microsoft's M12
Ecomedes, pioneer developer of building product optimization in the cloud, announced today that it has completed $3.25M in seed financing led by M12, Microsoft's (News - Alert) venture fund, with participation from NOVA by Saint-Gobain, PivotNorth, Mission Innovations Network, and AM Ventures. Ecomedes reduces costs, human health risks, carbon, energy, and environmental impacts of buildings through a breakthrough SaaS (News - Alert) platform digitizing building product data management, product research, and the path-to-purchase. The funding will be used on collaboration tools that save time, reduce costs, and improve the sustainability of buildings.
Buildings are responsible for 40% of global emissions, and asset owners are under growing pressure to address the issue. However, the solution involves coordination across a diverse array of players from developers and building managers to manufacturers and distributors. The data and logic required usually lives in unstructured PDFs, emails, tribal knowledge of experts, and in a proliferation of static spreadsheets. It takes brute force and manual effort to collect, analyze, and align on the best products that can reduce carbon, energy, water, toxins and waste.
Ecomedes is a digital hub where project teams collaborate in the cloud on product comparisons, trade-offs, operational energy targets, embodied carbon goals and score cards, like LEED Credits. We unify organizationally disparate building project team members with a common, intelligent product catalog.
"Environmental sustainability has increasingly become a priority for enterprises but operationalizing ambitious sustainability initiatives is a persistent challenge. That is why we are excited to invest in ecomedes," said M12 senior associate Ainhoa Maiz. "We believe that impact data will be key ecosystem enablers to unlock pent-up market demand from enterprise buyers. Our investment in ecomedes is a bet on sustainability as an enduring movement, and on the built environment as an immediate way to drive cost savings and positive climate impact."
Joe Pomerenke, an ecomedes customer and investor from ARCO/Murray National Construction, sees ecomedes as a key partner to the Design/Build process. "Our promise to our customers is that better processes lead to better buildings. The ecomedes dynamic catalog helps us streamline design and construction decisions while satisfying the growing demand for impact transparency and tracking from our most strategic customers".
"Businesses looking to differentiate themselves as leaders in sustainable procurement will benefit greatly from the ecomedes platform. We are excited to back the team as they help global purchasers address climate change while reducing costs through resource efficiency." said Jack McMackin, Founder and Managing Director of Mission Innovation Network.
"With this investment, we willalign building project teams on our industry standard platform," said Kathleen Egan, CEO, ecomedes. "It is time to end the struggle for both buyers and sellers trying to advance building product sustainability, streamline operations and innovate construction. With partners like M12, PivotNorth, Saint-Gobain, ARCO/Murray Ventures, and Mission Innovation Networks, ecomedes will deliver profitability, transparency, less human health risks, and operationalize sustainability."
About ARCO/Murray Ventures
About Mission Innovation Network
About PivotNorth Capital
About NOVA by SAINT-GOBAIN
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