WegoWise Helps More Multifamily Real Estate Companies Adopt Data Analytics and Utility Benchmarking to Improve Operating Performance

Market Leader Increases New Customer Bookings by More Than 100 Percent Over the Same Period Last Year

BOSTON, Sept. 12, 2017 (GLOBE NEWSWIRE) -- WegoWise, the world's largest multifamily real estate building analytics and utility benchmarking company, today announced its second quarter results, and offered insights into the company’s continued growth. WegoWise's software-as-a-service (SaaS) products are used to benchmark 54,730 buildings and 2.4 million square feet of multifamily housing, more than any other provider.

In the second quarter of 2017, the company increased new bookings by 83 percent over the same period last year, and had an increase in new bookings of 102 percent in the first half of 2017, as compared to the same period in 2016.

"We continue to 'scale-up,' adding new customers and partners in many different markets, as we achieve stronger growth," said Laila Partridge, CEO of WegoWise. "Almost 30 percent of our second quarter sales were comprised of market-rate multifamily owner-operators, including one of the largest market-rate multifamily owners in the country. Our core affordable market remains strong at 57 percent of our Q2 bookings.”

Partner Channel Fuels Additional Growth
WegoWise signed 14 new partnerships with energy service providers in Q2. The company now has 20 channel partners. The network of energy service provider partners exceeded the company’s expectations for the first half of the year, surpassing the channel’s revenue goals. WegoWise helps energy service providers, auditors, and consultants focus on leveraging the highest quality building data to deliver new services to their clients.

WegoWise supports the largest database of multifamily utility data in the world. Approximately 40 percent of total U.S. energy consumption occurs in residential and commercial buildings. By reducing the amount of energy those buildings consume, WegoWise can have a dramatic impact on global environmental, economic, and social sustainability. 

About WegoWise
WegoWise helps the multifamily real estate industry improve the operating performance and value of its properties. Its software 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 million units across 50,000 buildings, based on data from nearly 700 utilities.

Crystal Woody