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Smart buildings software platform Metrikus completes series A funding, raising GBP 5 million since launch

Proptech leader Metrikus has announced the completion of its series A funding, doubling the amount of funding it has attracted in the year to December 2020 to reach GBP 5 million of investment since it was founded in May 2019.

Metrikus provides a smart-buildings software platform that gives owners and occupiers a secure, single-pane-of-glass view of the operation and performance of their building, allowing managers to plug in any type of sensor to monitor everything from footfall and energy use to indoor air quality.

Metrikus’ Series A round attracted institutional capital as well as private investment vehicles. RentaMarkets, the Spanish independent financial services group acted as the underwriter for itself, and on behalf of several other private investment vehicles. One of the principals of an institutional investor working with Metrikus to open up Japan and South Korea, is among the individual investors.

The network of investments channelled via RentaMarkets comes with strategic introductory agreements for new business opportunities across Europe. Metrikus also expects to use this new funding to drive team expansion and build business momentum in the United States, Southern Europe, India, Japan and Korea, in addition to expansion within its existing core geographies.

Gary Cottle, CEO of Metrikus said:

“Metrikus has been able to double its funding in the past year despite, or perhaps partly because of, the impact that Covid-19 has had on the commercial property sector. In all market conditions, knowledge is power, and our software provides building owners and occupiers with the most powerful platform available for insight and analysis of how their buildings are being used.

“Every business wants to know that it is getting value for money. It also wants to know that cost optimisation is not having a negative impact on the comfort and utility of its built estate. Metrikus offers secure, real-time tracking of any measurable variable, within buildings across the full scope of real estate asset classes. We always say that if there is a sensor made that can measure it, we can map it – and that level of flexibility is hugely valuable to our clients – allowing them to consolidate multiple systems within a single platform.”

Emilio Botín O’Shea, President of RentaMarkets, said:

“The future of real estate lies in outstanding customer service for occupiers, coupled with sustainability and accountability for investors. Metrikus is the market-leading solution for smart buildings technology that enables huge steps forward in achieving these goals. Using Metrikus gives companies unprecedented insight and control over their buildings and creates data that validates policies and decisions.

“The Metrikus solutions will complement RentaMarkets offer to its institutional clients, with structuring and arranging financing solutions to make buildings more energy efficient. We’re very excited to be part of the company’s growth at this early stage.”

Philippe d’Ornano, a lead Metrikus investor and President of Sisley, said:

“The digital transformation that many firms have been undertaking across all aspects of their commercial activity is inevitably going to start taking place across the physical space they occupy. All stakeholders – management, owners, clients and employees – will increasingly demand healthier, safer, and more productive buildings. The Metrikus platform can deliver all of these benefits in a single, highly effective solution across all types of commercial estate – office, retail, industrial, logistic or any combination thereof”

Metrikus has attracted additional customers during the Coronavirus pandemic because it allows owners and operators of office buildings to facilitate safe and healthy back-to-work strategies for their tenants and employees, as well as discover unique insight into how their buildings are being used. This can lead to both tactical and strategic decisions about the size and utilisation of their estate. In one utilisation study of an agile workplace carried out by Metrikus on behalf of a UK corporate office occupier, Metrikus identified insights that led to a remodelling of the client’s occupancy plan, increasing the efficiency and comfort of the space. The new occupancy plan saved the client more than £500,000 in rent that would otherwise have been spent on additional space over 3 years.

Metrikus’ UK-wide coverage allows it to publish an aggregated and anonymised “occupancy index” that gives an overall measure of office occupancy in cities around the UK. The Metrikus Occupancy Index is published as the MTRKOFFO feed in Bloomberg’s flagship Terminal software.

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