Goby Inc.

December 21, 2015 11:45 ET

Goby Inc. Receives US$5M in Funding

Financing Round Was Led by Greensoil Building Innovation Fund, With Participation From Second Century Ventures

CHICAGO, ILLINOIS--(Marketwired - Dec. 21, 2015) - Goby Inc., a leading provider of utility management and sustainability compliance cloud solutions for building owners, property managers, and tenants, today announced it has closed US$5 million in financing. The round was led by Toronto-based Greensoil Building Innovation Fund (GBIF), with participation from existing investor, Second Century Ventures, the venture arm of the National Association of Realtors®.

The financing round will accelerate Goby's rollout of its SeaSuite™ platform, which enables building owners, portfolio managers, and tenants to efficiently manage rising utility costs, green building certifications, ensure regulatory compliance, and optimize energy procurement.

"Goby's team has developed a proven, cost effective and scalable software solution that addresses rapidly evolving market needs in the real estate industry," said Thomas Espiard, Fund Manager at GBIF. "The SeaSuite platform is currently deployed in more than 500 million square feet across North America, with commitments to roll out another 250 million square feet in the coming months in the US and Canada."

"Through our investment in Goby, we will have an opportunity to drive collaboration between Goby's team and our real estate network, which includes many potential SeaSuite users," said Jamie James, Chief Innovation Officer at GBIF. "This will accelerate Goby's growth and help real estate owners reduce the time, effort, and costs of developing, owning, and occupying environmentally friendly and efficient buildings."

Both Thomas Espiard and Jamie James will serve on Goby's board of directors.

The funding will also enable Goby to continue its geographic expansion in North America by expanding its sales and marketing program and developing client service focused SeaSuite services.

"Right now, Goby is offering a sustainability management solution to commercial, industrial, hospitality, and multi-family real estate. This solution provides building owners and property managers a cost effective way to meet the increasingly stringent energy disclosure requirements and the needs for energy efficiency improvements," said Chris Happ, CEO of Goby. "At the same time, we see the long-term opportunity to leverage the SeaSuite platform to break down silos of data and expand our offering to include additional modules in real estate management, maintenance planning and control, space and workplace management, services management and project management. It will also enable us to take a larger share of the Integrated Workplace Management Market (IWMM)."

About Goby Inc.

Goby is the recognized North American leader in enabling Better Run Buildings™. In addition to leading the industry in ENERGY STAR benchmarks and GRESB reporting, Goby's award winning SeaSuite™ Software as a Service platform captures and distills multiple data sources into simple, contextualized dashboards, tasks, and reports to cost-effectively monitor, optimize, report, and track whole-building energy and sustainability performance. Goby is a graduate of the NAR REach class of 2014.

About SeaSuite

SeaSuite™ users annually manage more than 500 million square feet from the cloud including regulatory compliance with energy reporting ordinances. In addition, SeaSuite™ users and buildings have collectively reduced average energy consumption by more than 20% since 2010. As a result of Goby's outstanding contributions to energy and greenhouse gas reduction in commercial real estate, the U.S. Environmental Protection Agency (EPA) has twice recognized Goby with as a 2013 and 2014 ENERGY STAR Partner of the Year, Service and Product Provider Award. For more information, visit www.seasuite.com.

About Greensoil Building Innovation Fund

GBIF is a growth equity fund investing in companies that create value for real estate/infrastructure owners or tenants through productivity enhancements and efficiencies. GBIF is part of the Greensoil Investments' family of funds, investing in companies that create value by offering products, services and technologies which enable smart and efficient utilization of resources, such as time, energy, electricity, water, people and land. Additional information is available at greensoil-investments.com/gbif/.

About Second Century Ventures (SCV)

SCV is an early-stage technology fund, backed by the National Association of Realtors®, which leverages the association's 1.2 million members and an unparalleled network of executives within real estate and adjacent industries. SCV also runs REach®, a unique strategic accelerator, which helps technology companies launch into the real estate vertical and its adjacent markets. REach® is a 9-month program that provides education, mentorship product refinement and market exposure to help its portfolio companies access the trillion-dollar real estate market and leverage NAR's strategic expertise. Learn more about REach at www.narreach.com.

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