Intelligent buildings company SensorSuite Inc., which specializes in wireless monitoring and energy saving solutions for commercial and residential buildings, has closed on a strategic venture investment from GreenSoil.
GreenSoil is an investment firm that funds early and growth stage real estate technology companies that provide products, services and technologies which make real estate and infrastructure more productive, efficient and sustainable. The SensorSuite investment comes via its GreenSoil Building Innovation Fund, which is a growth equity fund that invests in companies that provide technology-based products and services designed to make real estate and infrastructure more productive and sustainable.
“As asset managers face rising energy prices and challenges associated with older buildings, the need for systems that are smart enough to save money without human intervention and reduce operational risks has become an important part of their strategy,” said SensorSuite CEO, Robert Platek. “SensorSuite empowers property owners with scalable digital building solutions to address their sustainability needs now and in the future.”
The financing builds on an exceptional year for SensorSuite which saw a rapidly growing roster of clients, key executive appointments, and market momentum in the growing areas of energy management and IOT technologies for buildings. SensorSuite was also named one of Canada’s Top New Growth Companies on the 2017 Startup 50 in Canadian Business magazine.
“After following SensorSuite’s progress in the market for some time, our team is pleased to launch this formal partnership that will help our investors and affiliates improve the management of their assets using SensorSuite’s best-in-class wireless technology,” said Jamie James, Managing Partner of the fund. “The smart building technology market is evolving quickly, and we are confident that SensorSuite has the expertise, solutions – and now the capital – to deliver cost effective solutions to asset managers, particularly in the high-rise residential market in the near term.”
SensorSuite is also pleased to announce Jamie James will be joining the board of directors. Jamie brings a wealth of experience in the smart building industry to SensorSuite.