BOSTON, Dec. 05, 2017 (GLOBE NEWSWIRE) -- WegoWise, the world's largest multifamily real estate building analytics and utility benchmarking company, today announced its third quarter results, displaying a continued, substantial growth trajectory.
Year-to-date through the third quarter, WegoWise increased new customer bookings 66 percent year over year, and increased total bookings year-to-date, 41 percent, over the same time period. Half of the company’s third quarter sales were made to market-rate multifamily owners and operators -- a dramatic increase over the 28 percent of new sales made to market-rate customers in the second quarter.
“WegoWise’s strong year-to-date growth sets the stage for a strong FY ‘17,” said Laila Partridge, CEO of WegoWise. “Our growth, particularly from new customers and increased adoption from market rate real estate operators, demonstrates the demand for business intelligence and building analytics in multifamily real estate.”
Throughout 2017, multifamily real estate professionals looking to understand and improve building performance and utility efficiency have embraced WegoWise’s SaaS platform. Today, WegoWise benchmarks more than 58,000 buildings, 1.36 million units, and 2.6 million square feet. This growth represents a 13 percent increase in the number of buildings benchmarked by WegoWise, and a 29 percent increase in units benchmarked since the beginning of the year. WegoWise is the largest database of multifamily utility data in the world.
“The more buildings and units benchmarked by WegoWise, the more powerful the analytics we deliver, and the more impactful that data can be for our clients,” said Partridge. “In addition to offering real estate professionals insights into their own building performance, we provide them with comparative analysis, which allows them to measure their results against those of their peers to gain competitive advantage. They can leverage this data to achieve immediate and sustained savings, make smarter capital investment decisions, and lower their cost of capital through green financing.”
About WegoWise
WegoWise helps the multifamily real estate industry improve the operating performance and value of its properties. Its SaaS platform provides insight into a building’s energy and water efficiency, enabling real estate professionals to achieve immediate and sustained savings, while making smarter capital investment and financing decisions. WegoWise, with the largest database of utility usage data in the world, delivers a comprehensive building analytics and benchmarking solution that tracks over 1.3 million units across 58,000 buildings, based on data from nearly 700 utilities.
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