I’ve been tracking the development of US-based start-up Honest Buildings – an online marketplace and discovery engine for building professionals – since I saw Nick Katz describe the service at the 2012 BE2Talks event in London in September 2012, and have just learned that the business has achieved another milestone: securing a $5.5m (£3.55m) Series A funding round from investors Westly Group and RockPort Capital (see TechCrunch article).
Honest Buildings recently opened a London office at the Open Data Institute (ODI) in London’s Tech City to expand its UK reach (post), linking to BREEAM sustainability data collated by BRE Global. Now just over 12 months old, Honest Buildings echoes social networks such as LinkedIn, but instead of linking individuals or companies, it focuses on buildings. Planned, under construction or completed, buildings can have profiles created for them with which owners, consultants, contractors and other service providers can then associate themselves. The funding release says:
Over the past five months alone, approximately $25 million (£16.26 million) in contracts were originated through the Honest Buildings platform, which hosts the portfolios of thousands of building solution providers and features nearly one million researched building profiles.
Nick, UK head of HB’s market development says:
Being located in the heart of Tech City, amidst the like-minded entrepreneurs utilising data to drive economic value and, in our case, building improvements, is the perfect area for our business. With this financing, we are looking to grow our team at the ODI, specifically for data science, regulatory and policy research, and business development in order to aggregate and share the most information on buildings and projects, helping more decision-makers find the best solutions for their property portfolios.