Cohesion Announces $15 Million Series A Financing to Advance the Commercial Real Estate Transformation to Data-Driven, Smart Buildings Amid a New Era of Hybrid Work | News
CHICAGO – (BUSINESS WIRE) – Nov. November 2021–
Cohesion, a leader in SaaS technology for smart buildings and digital twins, raised $ 15 million in its Series A funding round jointly led by the Morgan Stanley Next Level Fund and Hyde Park Angels (HPA), which closed on Friday US dollars raised.
The company added multiple brand names to an already notable list of investors after a $ 5 million seed round last summer. New investors, Three Bridges Private Capital and Wintrust Ventures, are joining the seed round investors of Singapore-based Frasers Property Group, ESD, Ken Griffin, Citadel Founder and CEO Michael Sacks of GCM Grosvenor and Raj Gupta of ESD.
“We were excited to co-lead Cohesion Series A with the first investment of the Next Level Fund,” said Alice Vilma, co-portfolio manager of the Morgan Stanley Next Level Fund. “With the support of our corporate partners Microsoft, Hearst and Walmart, we want to accelerate Cohesion’s API-first technology platform to disrupt commercial real estate operations.”
The company will use the funds for product and market expansion, including its digital twin technology to optimize the building environment and health. Cohesion continues to create one of the world’s largest commercial real estate data repositories, which it uses to benchmark industry operations. The company brings this data to life through artificial intelligence and predictive modeling and will lead the industry’s transformation towards autonomous buildings. She will continue to focus on strategic channel growth, working with companies such as Morgan Stanley, Transwestern, The John Buck Company, and Riverside Investment & Development.
“Bringing the power and promise of autonomous technology to commercial real estate is more important than ever,” said Thru Shivakumar, Cohesion co-founder and CEO. “As the market leader in this emerging area, we have the technological ability to connect different systems and use big data to make buildings more transparent, healthier, more appealing and more sustainable. Investing in technology that ensures that commercial real estate makes a positive contribution to our world is central to our business ethos. “
With tens of millions of square feet of commercial office space under Cohesion’s management, Cohesion continues to transform commercial real estate with intelligent technologies that improve the tenant experience, streamline operations, and optimize revenue. Its patented platform combines the three main factors that affect construction operations – the human aspect, building systems, and environmental elements – into a single, multifunctional management and data platform that simulates construction operations to predict outcomes for the rapidly evolving industry.
“We believe Cohesion’s solutions are needed,” said Steve Koch, Cohesion board member, HPA member and former Credit Suisse Global Chair of M&A. “By connecting the things that matter – whether it’s improving health through effective air quality management, supporting ESG and sustainability programs, or delivering insights – Cohesion is poised for success with its next-generation technology.”
About cohesion
Cohesion was founded in 2018 and currently has 100 employees worldwide and helps commercial buildings to better integrate different systems into a smart building SaaS platform. It enables property owners to maximize the value of assets and portfolios by seamlessly connecting all building systems, workflows and people in one solution. The vertically integrated platform improves health and wellness, experience, efficiency and sustainability. Cohesion provides the industry’s most comprehensive data enabling operators to improve the tenant experience, save money and increase operational transparency. Cohesion is a spin-off company from ESD, a leading global engineering firm based in Chicago that is at the forefront of next generation building design. For more information, visit cohesionIB.com and follow @CohesionIB.
About Morgan Stanley Next Level Fund
The Morgan Stanley Next Level Fund, LP invests primarily in early stage tech and technology companies with women or various members of the founding team from target sectors such as technology, consumer / retail, financial technology, healthcare, and media and entertainment. The strategy’s investors include the company’s key early stage partners: Hearst, Microsoft and Walmart. This strategy will build on the expertise of the Morgan Stanley Multicultural Innovation Lab, Morgan Stanley’s in-house startup accelerator, and HearstLab, which provides cash investments and services to young women-led startups. Please visit www.morganstanley.com/im for more information.
About Hyde Park Angels
The HPA is a leading early-stage investor. Our people first model leverages world-class operational expertise, a powerful business network and venture capital to drive startups to success. As a result, our founders transform their companies into industry leaders, our investors achieve great returns, and our community experiences job creation and economic growth.
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SOURCE: Cohesion
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PUB: 11/17/2021 7:00 AM / DISC: 11/17/2021 7:01 AM
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