Honest Buildings Expands Online Marketplace
Honest Buildings is expanding beyond energy management and becoming more of a marketplace for building owners and contractors to connect.
The company late last month secured $5.5 million in Series-A Financing from investors Westly Group and RockPort Capital that is says will enable it to expand its services such as HB Match, an online platform that pairs building owners with qualified building professionals.
HB Match provides an online tool for building services providers to create free, online portfolios of their work, and produces detailed evaluations of these companies based on the project criteria of real estate decision-makers in search of specialists. The result is an efficient process to quickly and thoroughly compare, vet and select the best solution provider for the specific requirements of the project, saving time and resources, Honest Buildings says.
Over the past five months, about $25 million in contracts originated through the platform, the company says.
Sitt Asset Management, a New York-based real estate investment firm, used HB Match to compare qualified service providers for multiple capital improvements at 450 Broadway, a turn-of-the-century commercial building in Manhattan for which Sitt is currently executing a complete façade restoration and modernization program in preparation for retail tenancy.
Abe Hedaya, director of operations for Sitt Asset Management, says HB Match saved the company “significant money with no effort on our part.” It also saved time — instead of Sitt Asset Management spending hours searching for firms, Honest Buildings provided the company a list of the most qualified, best-priced options, Hedaya says.
Eneractive Solutions, an energy consulting, engineering and project development firm with offices in the tri-state area, won close to $200,000 in consulting services contracts using Honest Buildings. HB Match includes detailed case studies that show Eneractive Solutions’ work on an array of facilities.
In addition to its HB Match solution, Honest Buildings’ scalable technology is helping municipalities and utilities develop next-generation, sustainable buildings and communities.
To date, the states of New York, through its Build Smart NY program, and Connecticut, through its Connecticut Property Assessed Clean Energy or C-PACE program, are using Honest Buildings’ unique HB Platform service to power state-wide online networks that highlight their initiatives, showcase the work being done to improve buildings and provide property owners with tools needed to pinpoint the most qualified vendors for their building projects.
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