- Cohesion — an early-stage smart building SaaS company — announced that it has raised $6.5 million in a seed round of funding
Cohesion — an early-stage smart building SaaS company — announced that it has raised $6.5 million in a seed round of funding for further investing in its platform. The platform helps commercial real estate operators integrate their buildings’ systems, enhance tenant experiences, and provide actionable insights.
The funding round was led by Hyde Park Angels (HPA) and included participation from Frasers Property Group; Raj Gupta, Executive Chairman of ESD Global; Ken Griffin, Citadel founder and CEO; Michael Sacks, GCM Grosvenor CEO and chairman; and investment firm CMT. And in connection with the investment, Steve Koch — the former Global Chair of M&A at Credit Suisse and HPA member — is joining Cohesion’s board of directors.
Cohesion’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.
Key Quotes:
“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.”
— 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.”
— Steve Koch
“The real estate industry is evolving rapidly. For Frasers Property to respond with agility, we’re looking at leveraging data-driven technologies to better manage our multi-national real estate portfolio. We believe investing in Cohesion’s solution enables us to realize a vision where building systems and workflows can be seamlessly connected in a centralized intelligent building platform and has the ability to help create a future of work experience. Whether it is helping to improve people’s well-being through effective air quality management, supporting a sustainability agenda, or potentially yielding some cost efficiencies, we believe the overall benefits will also help enhance a more connected user experience.”
— Panote Sirivadhanabhakdi, Group CEO, Frasers Property Limited
“Technology to help office building owners and operators better anticipate and respond to tenant priorities is of paramount importance as economies look to restart and rebuild around the world. From our vantage at ESD, we believe that Thru and the Cohesion team will emerge as leaders in the smart building movement because of their clear vision, the flexibility of their platform, and their relentless attention to their users’ needs.”
— Raj Gupta, executive chairman of ESD
