COVID-19 demonstrates the need for greater control and flexibility over office buildings to enhance tenants’ health and safety requirements, which is now achievable with Cohesion’s platform
CHICAGO, July 17 (Bernama-BUSINESS WIRE) -- Cohesion, an early-stage smart building SaaS company, announced today that it has raised $6.5 million in seed funding to further invest in its platform, which helps commercial real estate operators integrate their buildings’ systems, enhance tenant experiences, and provide actionable insights. The female-led startup’s application bridges the gap between siloed tenant-facing apps and legacy building engineering systems with the goal of delivering greater operating efficiency, better tenant experiences, and addressing real-time health and safety needs of all building occupants.
Led by Hyde Park Angels (HPA), the seed round also includes investments from Singapore-based multi-national real estate group, Frasers Property Group; Raj Gupta, Executive Chairman of ESD Global; Ken Griffin, Citadel founder and CEO; Michael Sacks, GCM Grosvenor CEO and chairman; global proprietary trading and investment firm CMT. As part of the investment, Steve Koch, the former Global Chair of M&A at Credit Suisse and HPA member, is joining Cohesion’s board of directors.
“COVID-19 has presented the commercial real estate industry with never-before-experienced pressure, forcing adaptation to reprioritized tenant needs of health and safety. Cohesion’s technology makes it much easier for owners and operators to meet this moment by equipping them with an all-in-one platform that predicts and adapts to their building’s environment and tenants’ needs,” said Thru Shivakumar, Cohesion CEO and Co-Founder. “With this funding in place, Cohesion will continue advancing building intelligence capabilities to unlock an entirely new class of buildings that are more flexible, resilient, and data-enabled,” added Steve Koch.
In May 2020, as many businesses began developing office reopening plans, Cohesion conducted its inaugural "Voice of the Employee" survey to gauge employees’ priorities as they return to work. The findings, which incorporated responses from over 1,000 tenants, showed that after working remotely, most employees want to go back to the office when it’s safe to return, and only 8% of respondents want to permanently work from home. Making it possible for employees to safely return to work requires the implementation of smart building technology.
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