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Switch Closes $5M Series A2 Fundraising

Switch Closes $5M Series A2 Fundraising

Switch is pleased to announce a new partnership with lead investor Gaw Capital and that our $5M Series A2 round of fundraising is now closed.

Today Switch Automation closed $5M in a Series A2 fundraising round with lead investor Gaw Capital, a private real estate and equity company, as well Allectus Capital, MetaProp and RealTechX. This will fund Switch’s growth strategy in the Asian market, help double-down on software development and expand the sales and marketing efforts.

“This is a true partnership where we’re bringing the smart building technology and they’re bringing the customers and capital, and they’re also opening up the entire Asian market to Switch,” said Switch CEO Deb Noller. “You’ll see the Gaw team really embracing the Switch Platform and rolling it out across their Asian portfolio. We’re tremendously excited and looking forward to our next stage of growth throughout 2020 and 2021.”

With the rise of PropTech investment, we asked Gaw Capital’s Bill Lee why they believe Switch is well-placed to capitalize on the demand for smart building technology:

How did you first hear about Switch Automation and why did we spark your interest?

I’ve been following Switch since 2015 when I was at Microsoft, where I was responsible for redesigning the new campus. As a part of that process, my team tested technologies for real estate. After interviewing about 12 companies for the retail and facilities group, Switch Automation won, which really piqued my interest. I watched the product implementation, security and longevity of the project closely. Then when I moved to Gaw Capital, I became responsible for property technology investments and I reached out to Switch — we saw their growth and didn’t want to miss out on the investment opportunity.

What most impressed you about the Switch Platform?

The Platform was designed for many different types of stakeholders and portfolios; and is completely hardware and data agnostic. The Platform is very scalable, meaning you can bring in a vast array of new devices across your portfolio to achieve all of your occupancy, comfort, cost-savings, efficiency and sustainability goals. What we like about Switch is that their infrastructure layer ingests 50-year-old devices in older buildings as easily as brand-new smart building tech. This flexibility also means the Platform is utterly futureproof.

What type of ROI do you expect to drive for the Gaw portfolio?

It was a simple decision to use Switch Automation, because it makes sense financially. We brought one of our large buildings in Seattle onto the Platform and found that the value created far exceeded the upfront investment. Right away, Switch delivered cost savings north of 20%. So, if we save $1M per year, our NOI increases by $1M - based on the cap rate, we increased the value of the building by $10M. Not only are we driving cost savings and energy efficiencies but it also future-proofed the building, allowing us to integrate an infinite number of really interesting devices over time, like bio-threat sensors for example.

How urgently do you think real estate companies need to digitize their portfolios?

Big commercial real estate owners and managers should have been integrating great smart building platforms 5-10 years ago. For a long time the incentives weren’t aligned, but the younger generation of customers is so tech-focused that we’re seeing a new demand emerge. Gaw and Switch look at this fearlessly and aim to use our own portfolio to create a powerful example of what other portfolios can do with this tech.

PUBLISHED
April 4, 2020
Switch Closes $5M Series A2 Fundraising
Switch Team
Switch Automation
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December 7, 2020

Optimizing Building Performance with Deb Noller of Switch Automation

Switch Automation's CEO, Deb Noller, interviewed by the Building PropTech

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December 1, 2020

PropertyGuru Asia Real Estate Summit assembles green and climate heroes to tackle sustainability

Switch Automation will participate in the PropertyGuru Asia Real Estate Summit 2020

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November 30, 2020

Capital Land Welcomes New Partner to Singapore Proptech Innovation Lab

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October 22, 2020

De-risking Your Smart Building Rollout

Switch Automation mentioned in the PropModo article

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October 6, 2020

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Switch Automation listed among the top building energy management startups by Tracxn

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October 6, 2020

Switch launches first APAC smart building suite in Singapore

Switch is proud to announce the launch of our first smart building suite in Asia, a 39-story premium Grade A office asset.

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September 25, 2020

Outlook 2020 Goes Online

Switch Automation's CEO, Deb Noller, will present a keynote speech at the Outlook 2020

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September 9, 2020

How to Take a Data-driven Approach to Healthy Buildings and Workspaces

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September 8, 2020

Is your building a vertical cruise ship?

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August 11, 2020

Featured femmes interview with Deb Noller from Switch Automation

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