SAN FRANCISCO--(BUSINESS WIRE)--Ecomedes, pioneer developer of building product optimization in the cloud, announced today that it has completed $3.25M in seed financing led by M12, Microsoft’s venture fund, with participation from NOVA by Saint-Gobain, PivotNorth, Mission Innovations Network, and AM Ventures. Ecomedes reduces costs, human health risks, carbon, energy, and environmental impacts of buildings through a breakthrough SaaS platform digitizing building product data management, product research, and the path-to-purchase. The funding will be used on collaboration tools that save time, reduce costs, and improve the sustainability of buildings.
Buildings are responsible for 40% of global emissions, and asset owners are under growing pressure to address the issue. However, the solution involves coordination across a diverse array of players from developers and building managers to manufacturers and distributors. The data and logic required usually lives in unstructured PDFs, emails, tribal knowledge of experts, and in a proliferation of static spreadsheets. It takes brute force and manual effort to collect, analyze, and align on the best products that can reduce carbon, energy, water, toxins and waste.
Ecomedes is a digital hub where project teams collaborate in the cloud on product comparisons, trade-offs, operational energy targets, embodied carbon goals and score cards, like LEED Credits. We unify organizationally disparate building project team members with a common, intelligent product catalog.
“Environmental sustainability has increasingly become a priority for enterprises but operationalizing ambitious sustainability initiatives is a persistent challenge. That is why we are excited to invest in ecomedes,” said M12 senior associate Ainhoa Maiz. “We believe that impact data will be key ecosystem enablers to unlock pent-up market demand from enterprise buyers. Our investment in ecomedes is a bet on sustainability as an enduring movement, and on the built environment as an immediate way to drive cost savings and positive climate impact.”
Joe Pomerenke, an ecomedes customer and investor from ARCO/Murray National Construction, sees ecomedes as a key partner to the Design/Build process. “Our promise to our customers is that better processes lead to better buildings. The ecomedes dynamic catalog helps us streamline design and construction decisions while satisfying the growing demand for impact transparency and tracking from our most strategic customers”.
“Businesses looking to differentiate themselves as leaders in sustainable procurement will benefit greatly from the ecomedes platform. We are excited to back the team as they help global purchasers address climate change while reducing costs through resource efficiency.” said Jack McMackin, Founder and Managing Director of Mission Innovation Network.
“With this investment, we will align building project teams on our industry standard platform,” said Kathleen Egan, CEO, ecomedes. “It is time to end the struggle for both buyers and sellers trying to advance building product sustainability, streamline operations and innovate construction. With partners like M12, PivotNorth, Saint-Gobain, ARCO/Murray Ventures, and Mission Innovation Networks, ecomedes will deliver profitability, transparency, less human health risks, and operationalize sustainability.”
Ecomedes streamlines the processes of collection, maintenance, discovery, research, comparison, documentation, analysis and collaboration, for over 750,000 building products dynamically linked to over 35 different ecolabel certifications, across 10,000 manufacturing brands. Building owners, design teams and general contractors like the US General Services Administration, KMD Architects and DPR Construction use ecomedes to save valuable time researching and documenting product selections while ensuring that sustainability guidelines are met. Building product manufacturers like Armstrong, CertainTeed, Humanscale, and Tarkett save time for sales and marketing while catapulting digital product evaluations. As a result, ecomedes drives advances in building industry practices that support profit as well as people and planet. HQ in San Francisco. www.ecomedes.com.
M12, Microsoft’s venture fund, invests in early-stage enterprise software companies with a focus on applied AI, business applications, infrastructure, security, and vanguard technologies. Since 2016, M12 has invested in over 100 companies, helping startups accelerate growth with unparalleled access to Microsoft. With offices in San Francisco, Seattle, London, Tel Aviv, and Bengaluru, M12 has the team and resources to support entrepreneurs globally. M12 is a return-driven fund investing independently of Microsoft's technology and business focus.
About ARCO/Murray Ventures
AM Ventures is an investment fund whose goal is to identify, invest, advise, promote, and distribute innovative technology solutions that will improve delivery and occupancy of the built environment. They back companies through real-world implementation of their technology and distribution through our national network. They believe the power of their brand, quality feedback from their associates, and the strength of their national network creates an unfair competitive advantage for entrepreneurs. This is what makes them an exceptional strategic partner to the companies they invest in. AM Ventures is based in Chicago, IL
About Mission Innovation Network
MIN is network-based venture capital collaborative comprised of accomplished entrepreneurs, executives, investors, and experts seeking to support companies with compelling missions through investment and active engagement. The network utilizes an ESG framework to catalyze alignment between and among individuals, organizations, and broader societal needs. MIN is based in South Bend, IN.
About PivotNorth Capital
PivotNorth Capital works to be the first and most-trusted investor in world-class technologists solving problems of importance to society. The firm's founder, Tim Connors, has had billion dollar exits as an operator and as a VC both via M&A and IPO. Tim is a 2020 Midas List member. PivotNorth is based in Menlo Park, Calif. http://www.pivotnorth.com @PivotNorth @timc
About NOVA by SAINT-GOBAIN
Saint-Gobain designs, manufactures and distributes materials and solutions which are key ingredients in the wellbeing of each of us and the future of all. They can be found everywhere in our living places and our daily life: in buildings, transportation, infrastructure and in many industrial applications. They provide comfort, performance and safety while addressing the challenges of sustainable construction, resource efficiency and climate change. Sales of €38.1 billion in 2020 / Operates in 70 countries/ More than 167,000 employees.
To learn more about Saint-Gobain, please visit: www.saint-gobain.com and follow us on Twitter @sgnova or @saintgobain.