Enertiv, the IoT-enabeld platform to reduce energy consumption in commercial buildings, has raised $4.25M in additional fundin from investors that include Fifth Wall, New York Angels, and Cerium Technology. Founded by Connell McGill Jr and Pavel Khodorkovskiy in 2009, the company has now raised $7.65M in reported funding.
Enertiv was founded in 2011 with the goal to radically improve how the commercial real estate industry operates its assets. Early on, we realized that innovations would have to be made in how data was collected. As such, we developed a sensor to capture equipment-level data for a fraction of the cost of traditional devices on the market.
Instead of providing the same “energy management system” for a lower cost, we opted to keep the costs the same, but capture 10X more data per building. Over the years, this enormous data set (see running count below) has unlocked countless insights and allowed us to build a comprehensive building operations platform that brings a data-first approach to everything from preventative maintenance, to vendor management, to property condition assessments during due diligence.
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