WegoWise Increases Lead in Energy and Water Benchmarking and Building Analytics for Multifamily Real Estate

BOSTON, MA--(Marketwired - May 17, 2017) - WegoWise, the largest energy and water benchmarking and building analytics software-as-a-service (SaaS) company for multifamily real estate, today announced 82 percent year-over-year bookings growth for Q1 2017. The strong first quarter follows a robust FY 2016 where bookings growth increased by 65 percent over the previous year. WegoWise experienced its strongest ever first quarter and one of its best quarters overall, including substantial additions to two of the nation's largest public housing authorities. New customer acquisition, and upsell and cross-sell bookings from existing customers contributed to the strong quarter. In Q1 FY 2017, WegoWise:

• Signed 43 new customers, a 72 percent increase over Q4 FY 2016 (QoQ) and a 30 percent increase over Q1 FY 2016 (YoY)
• Increased bookings 63 percent from the previous quarter (QoQ)
• Expanded accounts with two of the nation's largest public housing authorities. WegoWise supports three of the five largest housing authorities in the United States based on number of public housing units.
  
  

"WegoWise continues to expand its lead in the multifamily real estate market, adding new market-rate and affordable multifamily customers, as well as public housing authorities, at a rate unmatched by other companies," said WegoWise CEO Laila Partridge. "With strong demand from new and existing customers, including adding new properties to WegoWise while adopting additional products, our SaaS business continues to scale."

"Using WegoWise, multifamily real estate managers can significantly scale the financial performance of their portfolios over time, including increasing net operating income (NOI) and asset value quickly," added Partridge. "This improved financial performance is created by extending energy and water savings across the portfolio, making smarter investment decisions based on actionable insight on the efficiency of properties, and lowering financing costs, by producing a real return on sustainability."

WegoWise supports the largest database of multifamily utility data in the world. Approximately 40 percent of total U.S. energy consumption occurs in residential and commercial buildings. By reducing the amount of energy those buildings consume, WegoWise can have a dramatic impact on global environmental, economic, and social sustainability. 

About WegoWise
WegoWise is the real estate industry's leading energy and water benchmarking, building analytics, and sustainability reporting company. The company transforms the way multifamily housing and commercial buildings are increasing operating income and asset value through benchmarking and building analytics. WegoWise's software-as-a-service platform helps real estate managers achieve environmental, economic, and social sustainability with a return-on-investment in months. For additional information, visit www.wegowise.com.