Measurabl
Software that tracks energy, water, and carbon data for real estate landlords and funds.
On the record
Checkpoint: Next funding round decision, up-round versus bridge or down-round
The call
Measurabl has real data and customer lock-in but three dry funding years and an untested free tier leave its survival timeline unclear.
Measurabl helps building owners and investors collect and benchmark environmental performance data (energy use, carbon, water) across their properties. It has built a valuable collection of 23 billion square feet of real estate information and locked in customers through multi-year contracts, which makes it harder for competitors to replace, but big real estate service companies like CBRE and JLL could bundle similar tools, and artificial intelligence is getting better at automating the data collection and report-writing work that Measurabl does. The company has not raised new funding in three years, appears to have cut staff, and is trying a risky free version starting in 2025; the next funding round in the next 6 to 12 months will show whether the company is stable or in serious financial trouble.
Why
01
AI pressure: None apparent. AI can auto read utility bills and draft GRESB or CRREM filings, but Measurabl's own team says it's staying cautious on AI for now. Could AI do the core job? Only partly.
02
Bigger players: S&P Global, CBRE, JLL, Cushman & Wakefield. S&P Global already invests in Measurabl and competes in ESG data, giving it a cheap path to buy or squeeze the company instead of racing it. Could a giant copy it? Probably.
03
What protects it. 23 billion square feet of building data and multi-year benchmarking workflows that customers and their lenders rely on every reporting cycle.
What would change this call
Measurabl announces a priced funding round in the next 6-12 months. An up-round signals investor confidence; a down-round or bridge signals financial distress.
Reported headcount changes or layoffs at Measurabl become confirmed via filings or press. Would validate or refute the 25% YoY contraction signal and quiet cost-cutting.
CBRE, JLL, Cushman & Wakefield, or S&P Global ships a competing ESG-data or benchmarking product. Would show incumbents converting structural capability into an actual market threat.
Reported headcount changes or layoffs at Measurabl become confirmed via filings or press. Would validate or refute the 25% YoY contraction signal and quiet cost-cutting.
CBRE, JLL, Cushman & Wakefield, or S&P Global ships a competing ESG-data or benchmarking product. Would show incumbents converting structural capability into an actual market threat.
Key numbers
- No priced round since $93M Series D, May 2023
- 1,000+ customers cover 23B+ sq ft
- Headcount near 208, down ~25% YoY by one estimate
Named risks
- No priced funding round since May 2023 amid tightening ESG-investment climate.
- Conflicting headcount data with one tracker showing 25% YoY contraction as of mid-2026.
- July 2025 free-tier pivot has no disclosed paid-conversion or revenue impact data.
- Zero public revenue transparency across all major trackers.
- AI could automate core data-wrangling and disclosure-drafting workflow; company admits cautious posture.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Deepki | contesting | 600+ customers, $167M Series C raised 2022-06-27; strong in Europe vs Measurabl in North America |
| S&P Global | gaining on | Is both an investor in and a competing ESG data provider to Measurabl as of 2026-06-20 |
| CBRE, JLL, Cushman and Wakefield | contesting | Could build in-house ESG data/advisory offerings; Measurabl founder came from CBRE |
Questions people ask
- Is Measurabl profitable in 2026?
- Unknown. No audited or disclosed revenue figures exist for Measurabl; trackers like CBInsights and Caplight list revenue as unreported or zero-filled as of 2025-07-31, so profitability cannot be verified from public data.
- Has Measurabl raised new funding recently?
- No priced round since the $93M Series D in May 2023, which valued the company at $433M. A small ~$6.51M unattributed VC tranche appeared in 2025, but no new priced round has been confirmed as of 2026-03-31.
- Who is Measurabl's biggest competitor?
- Deepki, a Paris-based real estate ESG data firm with 600+ customers and $167M raised in a 2022-06-27 Series C, is Measurabl's closest direct rival, though CBRE, JLL, and S&P Global loom as larger potential incumbents.
- Could AI replace Measurabl?
- AI could automate parts of its workflow like utility-bill parsing and framework mapping for GRESB or CRREM. Measurabl's own CPTO said the company was 'cautious about adopting AI until the technology proved itself' as of 2026-05-29.
- Who owns Measurabl?
- Measurabl is privately held and venture-backed, with investors including Energy Impact Partners, Sway Ventures, Salesforce Ventures, and S&P Global. Its last priced round closed May 2023; no acquisition or public listing has occurred.
- What is Measurabl's free tier and did it work?
- Launched 2025-08-06, the free tier onboarded 11,000+ buildings covering 2 billion sq ft across 36 countries within four weeks, per the company's own announcement. No data on paid conversion has been disclosed since.
Timeline
- 2026-07-13Launched Partner Network with six service providers including Black Bear Energy and Nova Group GBC
- 2026-05-29CPTO says company was 'cautious' on AI adoption; confirmed remote-first, no fixed HQ
- 2025-12-16Maureen Waters appointed CEO, replacing founder Matt Ellis
- 2025-08-06Launched free sustainability software tier, onboarding 11,000+ buildings in 4 weeks
- 2024-09-26Maureen Waters appointed President
- 2024-07-17Launched new sustainability data platform; tracked 18B sq ft
- 2023-06-01Closed $93M Series D at $433M valuation, led by Energy Impact Partners and Sway Ventures
- 2022Acquired Hatch Data and WegoWise to add decarbonization and utility-data automation
- 2013Founded in San Diego by Matt Ellis and Lance Onken, originally as Green In A Box
Revision history
23 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- Learn More About Measurabl (2026-04-24)
- Valuation, Funding Rounds & Stock Price (2026-03-31)
- Measurabl, an ESG platform for real estate, raises $93M (2023-06-01)
- Measurabl Stock Price, Funding, Valuation, Revenue & Financial Statements (2025-07-31)
- Measurabl 2026 Company Profile
- $93 Million Series D to Fuel Expansion of ESG Platform (2024-08-12)
- Real Estate Sustainability Data Provider Measurabl Appoints Maureen Waters as New CEO (2025-12-16)
- Measurabl Expands Partner Network with Six Leading Service Providers as New Members (2026-07-13)
- Here's How 2024 Measured Up (2025-02-06)
- Measurabl Launches Free Sustainability Software Solution (2025-08-06)
- How Much Did Measurabl Raise? Funding & Key Investors (2026-05-25)
- Buy Measurabl stock and other Pre-IPO shares on UpMarket (2026-05-10)