Audette, a Victoria, BC, Canada-based B2B SaaS for carbon-free planning in corporate real estate, raised $9.5 million in seed funding to ‘level up’ the decarbonization of buildings.
The round was led by Buoyant Ventures, with participation from Energy Impact Partners, Active Impact Investments, Johnson Controls, Osgoode Properties, Powerhouse Ventures, Turnham-Green Capital, and Undivided Ventures.
The funds will be used to expand into 150 new cities, a significant increase from the startup's current five locations in Western Canada.
“We’re investing in modelling out these cities … We’re activating it into the asset managers and into the constituencies within their portfolios,” Audette founder and CEO Christopher Naismith said. “We’ve selected the ones with the highest concentration of high value properties such that we can use that market demand that we’re generating to leverate cities into taking deeper action.”
Audette, who currently employs 22 people, intends to use a portion of this new capital to hire approximately 40 new employees over the next 12 months. It also plans to invest in sales and marketing in order to decarbonize North American buildings.
Company: Audette Analytics Inc.
Round: Seed Round
Funding Month: November 2022
Lead Investors: Buoyant Ventures
Additional Investors: Energy Impact Partners, Active Impact Investments, Johnson Controls, Osgoode Properties, Powerhouse Ventures, Turnham-Green Capital, and Undivided Ventures
Company Website: https://audette.io/
Software Category: Carbon Planning for Commercial Real Estate Portfolios.
About the Company: Launched in 2020, Audette is a developer of an analytics platform and marketplace designed to accelerate carbon reduction investment in commercial buildings. Audette’s platform uses artificial intelligence to capture, monitor, and analyze building data to identify emissions-reduction opportunities. It collects utility and equipment data, analyzes a building's operation, and produces recommendations to improve performance, enabling commercial property owners to accelerate energy management, access capital, and help reduce waste. Audette’s mission is to get carbon out of buildings and do that by creating net-zero roadmaps for large commercial real estate portfolios through its software-as-a-service.