Cohesion, a startup making software for the real estate industry, has raised $15 million from investors.
The series A round, co-led by Morgan Stanley Next Level Fund and Hyde Park Angels, brings Cohesion’s total raised to $24 million, the firm said.
Cohesion last raised money in 2020, when it landed a $5 million seed round that included investors like billionaire hedge fund manager Ken Griffin and investment firm GCM Grosvenor CEO Michael Sacks.
Clients include Riverside Investment & Development, Morgan Stanley, Transwestern, John Buck and JMB Realty.
Cohesion, launched in 2018, has built a patented software platform that allows commercial landlords to monitor and study various building functions, such as air-conditioning systems, elevators and visitor management to better understand how tenants interact with such systems.
The startup, which employs about 100 people, says it has tens of millions of square feet of commercial office space under management.
The company is a spinoff from Chicago global engineering design firm ESD and is led by CEO Thru Shivakumar, a Crain’s 40 Under 40 in 2020. Before Cohesion, Shivakumar worked for Hyatt, GE Real Estate, Green Courte Partners, World Business Chicago and GCM.
With the new financing, Cohesion says it will expand product features and enter new markets.
“Bringing the power and promise of autonomous technology to commercial real estate is more critical today than ever before,” Shivakumar said in a statement. “As a leader in this emerging space, we have the technological capability to connect disparate systems and use big data to make buildings more transparent, healthier, engaging and sustainable.”