Press release

The proptech Square Sense, announces a 3.5M € fundraising round

31.08.22 - News - Square Sense, the proptech company, announces a 3.5M € fundraising round | BESIX RED

Paris / Brussels, August 31, 2022

The platform that improves the energetic and financial performance of office and managed residential real estate has the backing of Nexity and BESIX RED.

Square Sense, the «data proptech» platform, announced today a €3.5€ million round of financing from Nexity, BESIX RED and private investors. This round of financing will enable the company to accelerate its commercial development in Europe, North America and Asia.

Square Sense is already a leader in the digitalization of the real estate sector and aims to double its teams in 2023 in order to meet the demand of its international clients who are looking for a solution to improve the management of their global portfolios. Square Sense aims to integrate over 8 million square meters of assets on its platform in the next two years. The Square Sense platform collects and analyzes all the data produced by the use of a building to enable the optimization of environmental performance, financial efficiency, and tenant satisfaction of real estate portfolios.

While the platform is primarily intended for asset managers and developers, it also makes this data available to all stakeholders (from the owner to the tenant, including the property manager), thereby providing unprecedented transparency.

“Global warming, like the health crisis we have just gone through, is profoundly shaking up the real estate market, and in particular the office and managed residential markets. Developers and asset managers need tools to invest and manage their projects in a more virtuous way. This is what Square Sense allows them to do. We are extremely pleased that this vision has won the backing of prestigious investors such as Nexity and BESIX RED”, comments Emmanuel Verhoosel, CEO of Square Sense.

It is Square Sense’s ESG commitment that convinced us to accompany them in their development.

Gabriel UZGEN, Chief Executive Officer of BESIX RED

“It is Square Sense’s ESG commitment that convinced us to accompany them in their development. Indeed, the Square Sense platform allows to calibrate and optimize the performance of a building, according to the most recent and ambitious environmental standards. This new partnership is perfectly in line with our digitalization program, BESIX RED 2.0, launched two years ago”, adds Gabriel Uzgen, CEO of BESIX RED.

“Square Sense is an innovative and pragmatic response to the operational issues that developers and investors face. As a global operator in the real estate sector, we want to invest in companies that meet the needs of our customers in terms of usage and improving environmental performance”, says Fabrice Aubert, Executive Vice President of Nexity.

AI and a wide range of data for informed decision-making in real time

Square Sense’s SaaS platform allows developers and asset managers to make decisions and arbitration, not only on the basis of the data collected, but also thanks to the business recommendations made by Square Sense’s Artificial Intelligence.

The platform collects three types of data :

Financial data
- Rental status, load plan, rent call and collection, capex plan, ...
Usage data
- Use of «physical» spaces and services such as shared rooms, gyms, catering, concierge services, etc.
- Use of digital services such as service reservations, incident reporting, building events, etc.
Technical data
- Energy consumption: electricity, gas, district heating and cooling
- Space quality: air quality (pollutants and CO2 concentration)
- Environmental quality: light, noise, temperature and humidity.

About BESIX RED

BESIX RED is a pan-European real estate development company, operating in residential, office, retail & services properties. As a subsidiary of BESIX Group, the company is present in Belgium and in a growing number of foreign cities. With a concern to create sustainable buildings meeting its customers’ needs, societal and ecological components, as well as innovation, form an integral part of its effort to conceive the real estate of tomorrow.

For more information, please read Mission & Values

Press Contact BESIX RED

Lucie Cardona
Marketing & Communication Manager
+32 (0) 2 402 64 95
lucie.cardona@besixred.com

About Square Sense

Founded in 2018, Square Sense is a proptech that aims to lead the digital transformation of the real estate industry. Its platform, designed on the best practices of the sector, allows for an unprecedented transparency between the different stakeholders, from the owner to the manager, including tenants and occupants. By collecting and analyzing all the data produced by the use of a building, the Square Sense platform enables the optimisation of environmental performance, financial performance and tenant satisfaction of real estate portfolios. Business recommendations, formulated by the platform’s AI, enrich the decision-making of operators.

For more information: https://square-sense.com/

About Nexity

NEXITY, LIFE TOGETHER: With more than 8,000 employees and sales of 4.6 billion euros in 2021, Nexity, the leading integrated French real estate group, is present throughout France and operates in all areas of development and services. Our service platform enables us to meet all the needs of our customers, individuals, companies, institutions and local authorities. Our raison d’être, «living together», reflects our commitment to creating sustainable spaces, neighborhoods and cities for them, enabling them to forge and rebuild ties. Nexity has been ranked, for the third year in a row, as the number one project manager by the Low Carbon Building Association (BBCA), a member of the Bloomberg Gender-Equality Index (GEI), and Best Workplaces 2021. Nexity is listed on the SRD, Compartment A of Euronext and the SBF 120.