Commercial real estate ratings platform WiredScore Inc. completed a $9 million Series A round October 22, led by Venice-based venture capital firm Fifth Wall Ventures.
Bessemer Venture Partners, Town Centre Securities, Savitt Partners and Legal & General also contributed funding. The investment will aid WiredScore in expanding geographically as well as into new service areas, the company reported in a statement.
“Our Series A commercial real estate investors join our client base of over 450 landlords who are taking responsibility for the shift. Commercial owners including EQ Office, Brookfield, Hines, Tishman Speyer, Boston Properties and Google leverage our expertise to help navigate the complexities of building technology so that they can provide a well-connected experience for the businesses who call their buildings home,” said WiredScore Chief Executive Arie Barendrecht.
WiredScore was founded in 2013 as a joint endeavor between New York City Mayor Bloomberg and the City of New York to evaluate wireless connectivity and technical advances in commercial infrastructure. Prospective tenants use WiredScore’s Wired Certification during their office space search to evaluate internet connectivity.
The funding comes after WiredScore reported a 45 percent increase in certified buildings during the first three quarters of 2018. The firm reports it has certified over 1,400 properties in more than 158 cities globally.
To date, WiredScore has certified 45 buildings in LA County, per the company’s certified buildings map. An estimated 4 million people work in Wired Certified buildings across North America and Europe, according to a company statement.
“Amenities are critical to today’s tenants and of the desired offerings, connectivity is paramount. However, it's simply not enough to invest in the technology; landlords need a strategy in order to be successful and we believe WiredScore is the best partner to help them succeed,” Brad Greiwe, managing partner at Fifth Wall Ventures, said in a statement.
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