Honest Buildings Raises $5.5M in Series A Funding

Honest Buildings, a New York City-based real estate network that enables building professionals, owners, tenants, and other real estate stakeholders to share data on energy efficiency has raised $5.5 million in Series A funding. So reports TechCrunch.

Honest Buildings, which has been described as a cross between Yelp and LinkedIn for building pros, received funding from Westly Group and RockPort Capital Partners. This latest round of funding brings the total amount of money invested in the firm to $7.5 million. It received seed money last year from RockPort and Mohr Davidow Ventures, according to TechCrunch.

With a full-time staff of 12, Honest Buildings was initially envisioned as a platform that would allow commercial real estate owners to assess the environmental impact of their building projects and choose construction and design firms accordingly. But it has turned more into a marketplace for building solution providers to display their work and connect with those people looking to construct new buildings or modify those already existing.

This latest capital raising comes as the company reports some solid growth. So far this year, about $25 million in building contracts have been originated through the firm’s platform. Among its users is real estate giant Cushman & Wakefield, says TechCrunch.

The firm recently opened a London office to increase its presence in the U.K.

While interest in the enterprise software space is growing, industry observers are looking to see how Honest Buildings fares, given that most web-based tools to date have been for the residential real estate market rather than the commercial real estate sector.

To read the full Tech Crunch article referenced in this story, click here

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