Measurabl Convinced 1,000 Real Estate Giants to Report Their Carbon Footprint

For the world's largest property owners, the path to a lower carbon footprint begins with a spreadsheet. Or, more accurately, with thousands of them, scattered across disparate property managers, utility portals, and local waste haulers. The act of simply measuring a portfolio's environmental impact is a monumental data-entry task, one that has historically been manual, error-prone, and opaque to the investors and regulators now demanding proof. Measurabl, a San Diego-based software company founded in 2013, built its business on the premise that this foundational problem could be solved with data plumbing, and that the resulting clarity would be worth billions.

Today, the company reports its platform represents more than 21 billion square feet of real estate across over 90 countries, a portfolio of managed space roughly equivalent to the entire floor area of India [Measurabl, retrieved 2026]. For a sector under intense pressure to disclose and decarbonize, Measurabl has become a critical piece of operational infrastructure, turning fragmented utility bills and meter readings into standardized, auditable ESG reports.

From Spreadsheet to System of Record

The company's initial wedge was elegantly simple: replace the manual sustainability spreadsheet with a centralized, cloud-based system. Co-founders Matt Ellis, formerly director of sustainability at CBRE, and Lance Onken, the CTO, started by tackling the data collection headache for commercial real estate [Measurabl, retrieved 2026]. The platform automated the aggregation of energy, water, waste, and emissions data, normalizing it into formats required for major disclosure frameworks like GRESB.

This solved an immediate, painful workflow problem. But the larger bet was that this data, once centralized, would become a strategic asset. "You can't manage what you can't measure," is a cliche in sustainability circles, but it describes a very real commercial blockade. Without reliable data, property owners couldn't secure green financing, respond to tenant sustainability requirements, or even accurately forecast the cost of regulatory compliance. Measurabl's platform aimed to be the system of record that made all of that possible.

The AI Layer on a Decade of Data

The company's more recent evolution involves applying machine learning to the vast dataset it has accumulated. With over ten years of historical data from more than 1,000 customers, Measurabl has trained what it calls Measurabl Quantum, a repository used to power estimations and benchmarking [Measurabl, retrieved 2026]. Its AI models are designed to fill data gaps,estimating a building's energy use based on similar structures, for instance,which is crucial for portfolios with inconsistent data coverage.

In September 2024, the company launched ESGx Benchmarks, a free report leveraging this aggregated data to provide the industry with comparative sustainability metrics [Measurabl, September 2024]. This move from a private tool to a public benchmark underscores the platform's growing role as a market intelligence source, not just a reporting utility.

The company's funding history shows investor conviction in this expanding role. A $93 million Series D in May 2023, co-led by Energy Impact Partners and Sway Ventures, brought its cumulative disclosed funding to at least $172.6 million [Crunchbase News, June 2023]. The round included strategic investors from the real estate and construction world, like Suffolk Construction, Colliers, and Lincoln Property Company, signaling industry adoption [Measurabl, May 2023].

2018 Series A | 7 | M USD
2019 Series B | 18.7 | M USD
2021 Series C | 50 | M USD
2023 Series D | 93 | M USD

Leadership and the Scale-Up Phase

A significant transition occurred as the company entered this scale-up phase. In late 2025, co-founder Matt Ellis transitioned from CEO to Executive Chairman, focusing on investment and M&A strategy [FinancialContent, December 2025]. Industry veteran Maureen Waters was appointed CEO, bringing operational experience to guide the company's next growth chapter [Mike Zatz - Measurabl | LinkedIn, retrieved 2026]. This is a classic maturation move for a founder-led company that has found product-market fit and is now navigating enterprise sales, international expansion, and increased product complexity.

Traction metrics, while self-reported, paint a picture of widespread adoption. The company claims over 1,000 customers, including real estate investment trusts (REITs), insurance companies, private equity firms, and notable names like Oxford Properties and Major League Baseball [The San Diego Union-Tribune, May 2023]. These organizations are reportedly using the platform to manage sustainability data for assets representing trillions of dollars in value.

The Risks in a Shifting Regulatory Landscape

Measurabl's success is tightly coupled with the momentum behind ESG disclosure mandates. This is both its core tailwind and its primary risk. The regulatory landscape is evolving rapidly but unevenly across regions like the EU, the US, and Asia. A significant slowdown or rollback of disclosure requirements could dampen the urgent need for tools like Measurabl.

Competition is also intensifying. Rivals like France's Deepki and other proptech-focused platforms are vying for the same global customers. Measurabl's defense rests on three pillars:

• First-mover data advantage. Its decade-long head start in aggregating global property data creates a benchmark that is difficult to replicate quickly.
• Industry-specific depth. The platform is built for the unique workflows of real estate, not as a generic ESG tool.
• Strategic investor alignment. Having major property owners and service firms as investors provides both credibility and a built-in channel for feedback and adoption.

The company must continue to translate its data asset into tangible ROI for customers, moving beyond compliance to demonstrate direct operational savings and value creation. Its recent AI and benchmarking initiatives are direct responses to this challenge.

The Standard of Care, Measured

For the property sector,the disease state being a systemic lack of actionable environmental data,the patient population is vast: portfolio managers, asset operators, sustainability officers, and investment firms. The standard of care, until recently, was a manual process. Teams would spend quarters collecting PDF utility bills, manually entering data into custom spreadsheets, and hiring consultants to assemble reports for frameworks like GRESB or for corporate sustainability reports. This process was not only expensive and slow but also produced data that was often inconsistent and impossible to benchmark or audit at scale.

Measurabl's proposition is that this workflow can be industrialized. The platform's automation of data collection and normalization is the first, critical dose of treatment. The AI-powered insights and benchmarks represent the follow-up therapy, aimed at moving the sector from mere reporting to strategic performance improvement. The next twelve months will be about proving that this data layer can indeed drive the financial and environmental returns that a decarbonizing world demands, turning measured squares into managed outcomes.

Sources

1. [Measurabl, retrieved 2026] The World's Leading ESG Platform for Real Estate | https://www.measurabl.com/
2. [Crunchbase News, June 2023] Measurabl Raises $93M For Real Estate ESG As VC Funding Slows | https://news.crunchbase.com/clean-tech-and-energy/venture-funding-environment-sustainability-measurabl/
3. [The San Diego Union-Tribune, May 2023] San Diego software startup snags $93M to help commercial real estate owners reduce carbon footprint | https://www.sandiegouniontribune.com/2023/05/31/san-diego-software-startup-snags-93m-to-help-commercial-real-est
4. [Measurabl, September 2024] ESGx Benchmarks Launch | https://www.measurabl.com/
5. [Measurabl, May 2023] Measurabl Series D Announcement | https://www.measurabl.com/measurabl-series-d/
6. [FinancialContent, December 2025] Measurabl Leadership Transition | https://financialcontent.com/
7. [Mike Zatz - Measurabl | LinkedIn, retrieved 2026] Leadership Update | https://www.linkedin.com/in/mikezatz/
8. [Measurabl, April 2018] Measurabl closes $7M Series A funding | https://www.measurabl.com/measurabl-closes-7m-series-a-funding/
9. [Measurabl, January 2019] Measurabl raises $18.7M to expand ESG platform | https://www.measurabl.com/measurabl-raises-18-7m-to-expand-esg-platform-for-commercial-real-estate/
10. [Seedtable, September 2021] Measurabl Series C Funding | https://seedtable.com/