Munich-based Alasco has raised $40 million in a Series B funding round. The platform provides real estate developers with a centralised dashboard that connects ESG and financial data, and automates and advises on future sustainability and fiscal decisions. The $40 million in new capital is expected to further develop the company’s offerings, as well as continue European market expansion, with the UK on tap for later this year. To date, Alasco has raised a total of $48.5 million.
Operating in an industry that to this day is still heavily reliant on pen and paper and excel sheets, it's a fair statement to make that the professional real estate development sector has some catching up to do. With data-driven processes being applied to just about every industry, for real estate professionals, the time has come. Not only to automate a number of daily operations but to let the data speak for itself in influencing future moves. And that’s nothing to say of environmental, social, and governance issues.
And this is where Alasco steps in. The Munich-based startup has developed a suite of tools including workflow and task management, automatic cash flow forecasting, and ESG documentation services, that put real estate developers at the centre of cost management, revenue management, and latest addition, sustainability management. This ESG offer is one the company aims to expand upon with the new funding.
"In the future, it’s crucial to link financial data and sustainability criteria. We want to push this forward in the next few years and expand our existing functions to cover the entire life cycle of a property,” commented CEO and founder Sebastian Schuon.
"The real estate industry reportedly is one of the world’s biggest polluters, contributing 39% of global annual greenhouse gas emissions and consuming around 30% of the world's energy. We believe that Alasco is uniquely positioned to play a transformative role in driving change in this industry for the better, by enabling real estate owners to make ESG-related decisions based on robust data and benchmarks,” concludes Lightrock’s Christopher Steinau.