WiredScore Scores $15M in New Funding
Summary
The new funding brings the companys total capital raised to $28 million.Beringea led the round with key participation from Cushman & Wakefield, Crow Holdings, and Taronga Ventures. There is a current, very real problem facing the sector: developers, consultants and real estate owners are desperate to make buildings smart, well-connected and competitive, but there are few common frameworks for evaluating these attributes, which is hampering innovation globally.WiredScores reputation in the real estate industry is based on a number of factors that have given investors confidence in the company, even in the face of macroeconomic headwinds, said Arie Barendrecht, the companys CEO and founder.Despite the slowdown in tech more broadly, when it comes to in-building technology its never been more important that our buildings are smart and digitally enabled, said Barendrecht. WiredScore and our new partners share a belief that theres an opportunity to have a world-changing impact on many of the most pressing problems facing society today, whether its widespread access to great connectivity, sustainability and the climate crisis, cybersecurity and protecting against cyber threats, or health and wellness. And landlords and developers need help.Founded in 2013, WiredScore has grown to include 130 employees, while certifying more than 800 million square feet of commercial and residential space, impacting 8 million people across 27 countries, according to the company.The Manhattan-based proptech company plans to use its latest funding to continue its global expansion into Europe, as well as in the Asia-Pacific (or APAC) market, said Barendrecht.We think APAC is an especially attractive region for WiredScore. One of our new strategic investors is Taronga Ventures, which is the leading proptech-focused VC based in Australia, he said.The company also plans to use the funding to expand its WiredScore Accredited Professionals, which partners with property managers and building advisers to deliver certifications, Barendrecht said.