Commercial real estate’s fight against unreliable internet, profit-killing connectivity issues and commitment to future-proofing assets just got a bit stronger. As the only company devoted to bettering office space connectivity infrastructure and tech-readiness, it's great to begin Q4 2019 with key wins that will ultimately benefit our growing portfolio of clients throughout the world.Our company, which was founded only six years ago, has secured additional Series A funding from two major investors, expanded into two more countries bringing its total to eight, and signed a major commitment out of Canada. WiredScore’s rapid growth will enable us to provide added value to thousands of tenants and building owners who rely on our team as both advisors and advocates in the telecommunication and tech sectors of their business.
Strategic Investment Fuels New Opportunity for Clients
WiredScore’s successful Series A fundraise was increased to $13 million in October thanks to a combined $4 million investment from British Land, the FTSE 100 property company, and PATRIZIA, one of the largest real estate investment companies in Europe.
In addition to the fundraise, both investors have committed a significant number of new buildings to be Wired Certified.
“Our customers expect a fantastic experience in our places, and best in class connectivity is crucial to delivering that,” said Chris Grigg, Chief Executive of British Land. “We’re delighted to invest in WiredScore, creating a partnership that will help us grow our expertise in PropTech.”
The financial investment follows a trend of rapid growth for WiredScore, as we have recently expanded into The Netherlands, Australia and Leeds, UK. Wired Certification is now available in eight countries; the United States, Canada, United Kingdom, Ireland, Germany, France, and now The Netherlands and Australia.
Demand from Building Owners Surges
The demand for connectivity certifications has increased throughout the year, with over 75 million square feet of office space and 70 new cities being certified within the first three quarters of 2019.
Allied Properties Real Estate Investment Trust, based in Canada, committed 122 of its buildings in major Canadian cities to adopting Wired Certification. This will add to 44.3 million square feet of office space already registered to Wired Certification across Toronto, Vancouver, Montreal, Calgary, Edmonton, Ottawa and Halifax.
“With WiredScore, we’ll be able to provide our workspace users with clear and objective measurements of the digital connectivity across our large urban portfolio,” said Michael Emory, President, and CEO of Allied. “In time, this will enable us to enhance the level of digital connectivity and ensure greater consistency within the buildings comprising our portfolio.”
In total, over 2,000 buildings and more than 500 million square feet of office space have committed to Wired Certification across the globe.