Kterio just completed $10 million in funding led by PropTech venture capital firm, Round Hill Ventures (which invested in Anaphite) along with real estate investment management firm, Brighton Ventures.
Scaleup plans ahead
Kterio plans to use the new investment to fuel product development, expand sales and marketing, and become a dominant player in the built space for data driven services that reduce costs and report and measure emissions.
The investment will fund the scaleup of Kterio’s Real Estate SaaS business in Europe and North America.
Joe Stolarski, CEO of Kterio said: “We are excited to have the support of Round Hill Ventures and Brighton Ventures as we look to scale our solutions to commercial and industrial markets across North America, the UK and Europe. We look forward to a long-term partnership, which will be critical to our success as we build a world-class company.”
Arnie Sriskandarajah, Managing Director of Round Hill Ventures, added, “At Round Hill Ventures we spearhead innovation and technology solutions for real estate, and with Kterio we saw the potential to reduce the operating costs of buildings and make the asset management more transparent. The pressing need for buildings to be more transparent about their environmental performance and the current energy crisis gave us greater conviction that a $bn+ company can be built.”
Daniel Turnbull, Principal at Brighton Ventures, added, “Brighton enjoys investing where the team has relevant experience and deep conviction; and with over 30 years of creating great places, we quickly realised Kterio is building something that is already providing tremendous value to a massive real estate marketplace. We are grateful to be partners and look forward to making a positive impact on the world together.”
Digitises managing building assets
Kterio was founded in late 2020 by Larry Yogel. Its proprietary Building Digital Operating System (B-DOS) platform allows building owners and managers to digitally manage commercial and industrial building assets, significantly reducing operating costs and supporting ESG initiatives. It addresses inefficiencies in the management and maintenance of building physical assets.
The Kterio cloud-based platform transforms existing offices, hospitals, and distribution facilities into dynamic smart buildings within 30 days. The Kterio BDOS platform aggregates data from disparate closed building systems such as HVAC, lighting, utility metering and elevators/lifts and unifies them into a single platform.
Building owners can use the platform to monitor their buildings’ assets in real-time, benchmark the performance of various systems, identify operations and maintenance issues, and take action accordingly. The solution enhances the work of the building management staff and helps to make decisions that significantly reduce energy consumption.