KODE Labs, a Detroit-based autonomous smart building startup, announced the closing of a $30 million Series B round. Headed by Maverix Private Equity, this milestone funding round also saw enthusiastic participation from esteemed partners TELUS Ventures and existing investor I Squared Capital. This funding round marks a significant moment for KODE, enabling the company to help buildings worldwide achieve net-zero emissions.
Launched by brothers Edi and Etrit Demaj, and Gentrit Gojani in October 2017, KODE’s mission is to enhance the intelligence, health, and efficiency of buildings, enriching the experiences of those who work in, visit, and enjoy them.
KODE Labs co-founder Etrit Demaj said that buildings account for a staggering 39% of global carbon emissions, transforming building operations critical for the environment.
KODE Labs’ groundbreaking approach has transformed the landscape of smart buildings. At the core of this transformation is KODE’s enterprise platform, a solution that seamlessly integrates data from a multitude of building management systems, IoT devices, and operational systems into a unified infrastructure. KODE’s capacity to standardize and organize data at scale across diverse systems and numerous buildings worldwide positions the company as a leader in AI technology tailored for buildings.
KODE Labs co-founder Edi Demaj pointed out that KODE’s technology consistently achieves operational excellence, yielding significant outcomes like reducing energy consumption and carbon emissions by up to 30%. And with a proven track record, KODE’s platform is used by Fortune 500 corporations, retailers, financial institutions and global REITs, catering to various sectors including commercial, mixed-use, high-rise residential, life sciences and industrial domains.
In the past three years, KODE’s annual recurring revenue has more than doubled, showing growth of over 200% each year. With this substantial funding round, KODE Labs will enhance its AI development to innovate building operations and experiences. And by analyzing vast amounts of data from various systems, KODE aims to create buildings that prioritize human experience and environmental impact, envisioning a future where efficiency meets human-centric design.
Since its founding in 2017, KODE Labs has transformed the smart building landscape across North America, Europe, and Australia. Through partnerships established with renowned companies like QuadReal, Bedrock Detroit, Stream Realty, Hines, Ford, and other global corporations and REITs across different verticals, this funding round will continue accelerating KODE’s expansion and market share.
KEY QUOTES:
“Maverix’s leadership precisely aligned with our vision. With the follow-on from TELUS Ventures and continued support of I Squared Capital, we are in the best possible position to propel our mission forward and combat climate change by making all buildings more energy efficient while creating amazing experiences.”
– KODE Labs co-founder Etrit Demaj
“Users prioritize a seamless experience over managing multiple screens and platforms. Our platform serves as the definitive operating system, offering complete command and orchestration capabilities. Leveraging machine learning and artificial intelligence across billions of standardized data points, we enhance user experiences while delivering measurable return on investment in under 12 months.”
– KODE Labs co-founder Edi Demaj
“KODE is the leading company helping real estate portfolios become more sustainable, improve user experience and become truly smart. They have an exceptional management team, and we couldn’t be more excited to partner with them on their next stage of growth.”
– Peter Hass, partner at Maverix Private Equity
