PropTech platform Enertiv has netted a $4.25m funding round, with a commitment coming from venture firm Fifth Wall.
New York-based Enertiv is a real estate portfolio management company that helps automate business operations to lower operating costs and improving running quality. One of the features Enertiv provides is an automatic tenant billing option, which removes manual invoicing processes.
The company offers an AI solution that identifies and automatically alerts building malfunctions, maintenance needs, energy waste and environmental issues. Enertiv’s IoT feature is able to track 200 500 real-time equipment data streams for each building.
Fifth Wall tech investor Adam Demuyakor said, ?What impressed us about Enertiv was its ability to unlock large savings in buildings that have historically lacked robust operations management capabilities. ?With potential payback periods of less than a year, the firm product offerings for multifamily and office landlords are very attractive.p>
This investment marks Fifth Wall second transaction in to a PropTech company this week, and third FinTech deal of the year. The firm led the $136m investment in to online real estate marketplace platform Opendoor, and co-led the $25m Series B of home insurance company Hippo.
Last year, the PropTech sector was dominated by Asia, with the region receiving 63 per cent of the total equity injected in the space. The North America market was the second largest, with it representing just over a quarter of equity contribution.