Portfolio Profiles: Aquicore

“The IoT revolution is here.”

Kiddar Capital led Aquicore’s Series A round in May 2016.

Aquicore turns sustainability into profit. Known as “Fitbit for buildings,” their product is a powerful platform for commercial real estate to collect and analyze real-time utilities data. Buildings with Aquicore installed are more efficient, sustainable, and improve building NOI (net operating income) by slashing utilities costs up to 30%.

Utilities and maintenance are the biggest expenses of operating commercial real estate, so being able to bring down those numbers for even a single building is huge. Over an entire real estate portfolio — or the $77 billion U.S. commercial real estate market — the savings are even greater.

“Coming from an owner-operator background, utilities expenses were one part of the financial statement we were never able to touch,” says Stephen Porter, Principal of Real Estate at Kiddar Capital. “Aquicore offers owners and operators an incredible value proposition.”

So how does Aquicore work?

Utility companies usually check traditional meters once a month — so even with consistent checks, issues can go unnoticed for weeks. Aquicore solves this age-old problem via the installation of their smart meters or sensors:

  • Smart meters replace existing utility meters. They measure utility usage data and upload that information to Aquicore’s cloud via secure radio transmission and digital upload.
  • Sensors can simply be attached to existing utility meters. The sensors do not replace the meter, but record and upload its metering data.

Aquicore’s smart meters and sensors allow for real-time analysis: you can see exactly how much gas, electricity, and water a building is using at any given time. Their software analytics provide actionable insights that allow building managers and engineers to optimize the building’s utilities usage and catch small issues before they become expensive problems.

Aquicore’s solution works for a single building, or can be scaled to an entire real estate portfolio. The company offers smart submetering and automated tenant billing, and has already garnered amazing traction and high-profile clients including Lincoln Property Company, MRP, and Vornado.

The company’s swift growth is no coincidence. With the smart city and sustainability movements picking up steam, Aquicore appeals to both innovators and environmentalists. With IoT (Internet of Things) devices cheap enough to make their product a money-saving proposition, they appeal to building owners and operators.

Kiddar Capital led Aquicore’s Series A round in May 2016. “The future of real estate is integration with technology,” says Todd Hitt, Kiddar’s founder and a veteran of the construction and real estate industries. “We invest our money where the world is going.”

As the Aquicore website states, “The IoT revolution is here.”

To learn more about Aquicore, visit aquicore.com.

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