Commercial real estate-focused ESG data management solution provider Measurabl announced today the acquisition of utility data automation and residential real estate software platform WegoWise from AppFolio, Inc.
WegoWise provides cloud-based utility analytics software enabling business owners to understand, track, and improve building efficiency, make utilities-related operating and capital expenditure decisions, and generate sustainability reporting. The platform was acquired by real estate-focused cloud business management solutions provider AppFolio in 2020.
The announcement marks Measurabl’s second acquisition this year, including the firm’s purchase in April of decarbonization-focused smart building platform provider Hatch Data. The acquisitions follow a $50 million capital raise by Measurabl last September, with proceeds from the financing aimed at accelerating the expansion of the company’s platform and supporting the launch of new services to meet rapidly growing global demand for sustainability and decarbonization tools.
According to Measurabl, the acquisition of WegoWise will help the company address the rapidly emerging ESG needs of single- and multi-family real estate, by adding a scaled utility automation backbone and residential real estate software application into its ESG platform, and eliminating barriers to accessing utility data.
The transaction also extends Measurabl’s ESG services to residential real estate.
Matt Ellis, CEO and Founder of Measurabl, said:
“Our product vision is to deliver ESG solutions for every real estate stakeholder — from owners to lenders, occupiers to residents — from meter to market. This is another major step in delivering on our expansive vision of removing barriers to sustainability data and making it accessible across the entire real estate industry.”