ESG Building Intelligence Leader Infogrid Closes $90 million Series B

April 14, 2023
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Infogrid, a leader in sustainability focused smart building technology, today announced it has raised $90 million in fresh equity and converting CLNs, and a further $30m of debt facilities in Series B funding after 5x growth in 2022. Funding came from Original Capital, SoftBank Vision Fund 2, Northzone, TVC, JLL Spark, Committed Capital, Pictet, and several others.

Infogrid is an AI-powered sustainability focused smart building platform that automates and optimizes facilities and building management, actively preventing carbon emissions, water and chemical waste while making buildings safe. It does this while generating significant financial ROIs for its facility manager and landlord clients. Infogrid provides building owners, facility and workplace managers with a holistic and real-time view of building data that can help them meet sustainability targets, reduce costs and improve employee productivity and well-being. Over 200 global blue-chip customers are already using Infogrid to improve their facilities’ internal environment and overall sustainability.

“Sustainability and reducing costs are paramount concerns for our clients today. In the aftermath of Covid there has been a pincer movement of inflation and climate pressures on businesses, leading to widespread concern over the cost and carbon emissions of owning and operating commercial buildings,” said Will Cowell de Gruchy, CEO, Infogrid. “This created a clear need for solutions that lower costs while reducing the environmental and health damage caused by commercial real estate; Infogrid provides exactly this solution. Achieving this goal can be as simple as using technology to avoid cleaning unused space every day, or to automate compliance checks for legionnaires disease prevention. Not only does this save crucial dollars in a time when budgets are strained by inflation, but it also prevents wasted carbon, chemicals, and water in a time when the world is strained by climate change. It’s a win-win for clients and the planet, and it’s heartening to see big business embracing sustainable solutions.”

The new financing will fuel the next phase in Infogrid’s global growth, including expanding Infogrid’s vast dataset (Infogrid already collects billions of unique data points monthly, and this is growing exponentially) and the deep and broad functionality of its proprietary AI-powered building intelligence platform. It will also help Infogrid serve its global blue chip customer base with an expanded sales and customer success organization.

“Building sustainability and health are mission-critical today, yet most commercial buildings live in the dark ages with no data or way to measure basic things like air quality and energy consumption,” said Sean Wright from JLL Spark. “Infogrid is the only solution in the market that provides the data—and the AI capabilities to harness that data—to take action on building health and sustainability. We’re thrilled to be alongside Will and his team on their mission to bring digital transformation to the commercial sector, both as an investor and global commercial partner.”

This announcement comes on the heels of continued growth and momentum for Infogrid, with 5x growth in 2022 alone. Infogrid partners with some of the largest commercial real estate services companies in the world to enable change in the built environment. The company has also published a series of reports including Air Quality and Health in the Workplace and a 2022 Energy Crisis Report.

Investor comments:

Northzone – “It’s been phenomenal to watch how the company has rapidly grown from early product-market fit to having strong monetization, servicing some of the world’s largest corporations, moving their real estate onto a digital platform that is driving tangible sustainability outcomes alongside strong ROIs. Northzone has a long-held thesis that ESG and digital transformation are overdue for real estate, and we’re glad to be backing the market leader that is making that happen.”

TVC – “It is with great pleasure that TVC continues to support Infogrid at this milestone event. This round has clearly proven that – regardless of market conditions – exceptional companies driving significant societal impact will always be able to raise, build and thrive. With the requisite funds in place and key strategic partners on the journey now as equity investors, Infogrid is perfectly poised to continue to accelerate into its category leading position. I am excited to see them delivering huge operational efficiency for their customers and, more importantly, driving forward vital sustainability initiatives.”

About Infogrid

Infogrid is changing the world through building intelligence. Our AI-powered platform empowers the commercial real estate sector to revolutionize the way the built environment is managed. We partner with best-in-class IoT tech and sensor providers to equip buildings with smart technologies to collect, combine and analyze data for a complete visibility of a building’s performance. The Infogrid platform measures impact and surfaces actionable insights to help commercial real estate owners and landlords reach their ESG goals. Infogrid operates globally and solves real world problems in real-time in support of our mission to make every building healthy, efficient and sustainable. https://www.infogrid.io.

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