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October 18, 2016

Building Engines Receives Significant Growth Investment

Building Engines, Inc. (“BEI”), provider of the commercial real estate industry’s most innovative web and mobile operations management platform, today announced a major growth capital investment led by Wavecrest Growth Partners, with participation from River Cities Capital Funds, MassMutual Ventures, Camber Creek Ventures and Hermes GPE. Building Engines was represented by AGC Partners during the process.

BEI provides cloud-based solutions that help clients manage over one billion square feet of commercial office, retail, medical office, industrial and mixed-use portfolios throughout the United States and Canada.  By maximizing data capture, the platform empowers users to optimize property and portfolio performance through greater management visibility, control, reporting and analytics. Many of the largest and most successful real estate organizations in North America are among BEI’s clients.   
“This is an exciting time for both Building Engines and the broader real estate operations technology market”, said David Osborn, founder and CEO of Building Engines.  “We’re growing quickly, pursuing new innovations, and charging towards an even broader enterprise solution.  This investment will help us deliver more value to our growing client list.”  
“We believe that this sector is ripe for technological innovation,” said Deepak Sindwani, Managing Partner at Wavecrest. “Building Engines impressed us with its client-centric approach, tenant-facing focus, and long history of innovation.  We look forward to helping them to cement their brand as the industry’s unquestioned thought and product leader.  We’re thrilled to be a partner in the next phase of their development.” 
“It’s all about executing on our vision to be the best, most innovative and effective, client focused company in our market,” continued Osborn.  “While we had a lot of inbound interest from potential partners, we chose the Wavecrest-led investor group because they value that client focus; share our vision for a full enterprise solution, and support our continuing drive for greater innovation.  Our investor group knows that these attributes are critical to being best-in-class.  That alignment was the key factor in our decision.”