Kterio, a real estate SaaS company, announced on Tuesday that it has secured a $10M (approximately €10M) funding round led by proptech VC firm Round Hill Ventures with participation from real estate investment management firm Brighton Ventures.
The company will use the funds to scale its business in Europe and North America. Additionally, Kterio plans to use the capital to fuel product development and expand sales and marketing efforts.
Joe Stolarski, CEO of Kterio, says, “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.”
Kterio: What you need to know
Kterio was founded in late 2020 to tackle inefficiencies in the maintenance and management of building physical assets.
The company’s proprietary Building Digital Operating System (B-DOS) platform allows building owners to manage commercial and industrial building assets digitally. Meaning the platform enables building owners to monitor their buildings’ assets in real-time, benchmark the performance of various systems, identify operations and maintenance issues, and take action accordingly.
The 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.
Kterio is headquartered in the US and Europe and serves customers in the commercial building, industrial, multi-family, and hospital sectors
Investors
Round Hill Ventures is a PropTech venture capital firm with four years of experience in PropTech investing. The VC firm has invested in 17 companies and two accelerators over the last four years.
Arnie Sriskandarajah, Managing Director of Round Hill Ventures, says, “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. In addition, the pressing need for buildings to be more transparent about their environmental performance and the current energy crisis gave us a greater conviction that a $bn+ company can be built. We invested in Kterio after being impressed with the team’s deep engineering experience, early commercial success, and, ultimately, globally scalable technology platform. We look forward to working with them as they continue with their growth trajectory globally across asset classes.”
Brighton Ventures manages private real estate and corporate investments. Since its inception, Brighton has invested more than $275M (approximately €275M) of equity in assets valued at more than $1.25B (approximately €1.25B) .
Daniel Turnbull, Principal at Brighton Ventures, adds, “Brighton enjoys investing where the team has relevant experience and deep conviction; and with over 30 years of creating great places, we quickly realized 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.”
