Square Sense, the proptech company, announces a 3.5M € fundraising round

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The platform that improves the energetic and financial performance of office and managed residential real estate has the backing of Nexity and BESIX RED.

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31/08/2022 |
  • Besixred

Square Sense, the «data proptech» platform, announced today a €3.5€ million round of financing from Nexity, BESIX RED and private investors. This round of financing will enable the company to accelerate its commercial development in Europe, North America and Asia.

Square Sense is already a leader in the digitalization of the real estate sector and aims to double its teams in 2023 in order to meet the demand of its international clients who are looking for a solution to improve the management of their global portfolios. Square Sense aims to integrate over 8 million square meters of assets on its platform in the next two years. The Square Sense platform collects and analyzes all the data produced by the use of a building to enable the optimization of environmental performance, financial efficiency, and tenant satisfaction of real estate portfolios. 
While the platform is primarily intended for asset managers and developers, it also makes this data available to all stakeholders (from the owner to the tenant, including the property manager), thereby providing unprecedented transparency.

“Global warming, like the health crisis we have just gone through, is profoundly shaking up the real estate market, and in particular the office and managed residential markets. Developers and asset managers need tools to invest and manage their projects in a more virtuous way. This is what Square Sense allows them to do. We are extremely pleased that this vision has won the backing of prestigious investors such as Nexity and BESIX RED”, comments Emmanuel Verhoosel, CEO of Square Sense.
“It is Square Sense’s ESG commitment that convinced us to accompany them in their development. Indeed, the Square Sense platform allows to calibrate and optimize the performance of a building, according to the most recent and ambitious environmental standards. This new partnership is perfectly in line with our digitalization program, BESIX RED 2.0, launched two years ago”, adds Gabriel Uzgen, CEO of BESIX RED.

“Square Sense is an innovative and pragmatic response to the operational issues that developers and investors face. As a global operator in the real estate sector, we want to invest in companies that meet the needs of our customers in terms of usage and improving environmental performance”, says Fabrice Aubert, Executive Vice President of Nexity.

AI and a wide range of data for informed decision-making in real time

Square Sense’s SaaS platform allows developers and asset managers to make decisions and arbitration, not only on the basis of the data collected, but also thanks to the business recommendations made by Square Sense’s Artificial Intelligence. The platform collects three types of data :

  • Financial data: rental status, load plan, rent call and collection, capex plan, ...
  • Usage data :
    • Use of «physical» spaces and services such as shared rooms, gyms, catering, concierge services, etc.
    • Use of digital services such as service reservations, incident reporting, building events, etc.
  • Technical data
    • Energy consumption: electricity, gas, district heating and cooling
    • Space quality: air quality (pollutants and CO2 concentration)
    • Environmental quality: light, noise, temperature and humidity.
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