Bessemer and Fifth Wall-led Investor Group Acquires WiredScore

10/12/17

WiredScore, the world’s leading rating system for technological capacity in commercial buildings, today announced that an investment group led by Bessemer Venture Partners and Fifth Wall Ventures has acquired a majority share of the company and will fill Board and Board Observer seats, respectively. The investment group also included minority participation from SterlingVC, Joshua Kushner, and other angel investors.

WiredScore was founded in 2013 in partnership with Mayor Bloomberg and the City of New York with the mission of promoting best-in-class internet connectivity in commercial buildings.

The company has developed a widely respected standard that evaluates and distinguishes buildings with top-tier technological infrastructure, known as Wired Certification. The Wired Certification is a standard trusted by tenants internationally to verify that buildings have been independently evaluated and certified to provide the connectivity that businesses require to thrive.

Iconic landmarks including The Empire State Building, Chicago’s Willis Tower, and The Shard in London, along with innovative development projects like Duo Tours in Paris and Hudson Yards in New York City have achieved Wired Certification.

“Buildings are no longer just a protection against elements: they are a nexus of connectivity. WiredScore is the industry standard, providing the most dynamic measure for that essential technological capacity,” said Brendan Wallace, CEO and co-founder of Fifth Wall Ventures. “We’re excited to partner with their team to build a future where technology is seamlessly and more powerfully integrated into physical spaces.”

“Bessemer and Fifth Wall’s interest in WiredScore confirms the urgency of our mission to improve digital connectivity in offices and help businesses find the buildings that meet their needs. With Amazon recently prioritizing optimal connectivity requirements for their HQ2 location selection, and signing a lease at Brookfield Property’s Wired Certified Five Manhattan

West project, the call of tenants for improved digital infrastructure is undeniable. Investors, developers and building owners who are here to compete are certainly taking note.” said WiredScore CEO Arie Barendrecht. “Together with Bessemer and Fifth Wall, WiredScore will continue expansion into new markets to work with commercial real estate owners and developers to improve connectivity infrastructure in their assets.”

WiredScore launched four years ago when Barendrecht and Jared Kushner founded the company in New York City. This new investment capitalizes WiredScore for continued rapid growth and completes Jared Kushner’s formal divestment of the company following his role as an advisor until he assumed a position in public office earlier this year.

About WiredScore

Wired Certification champions cutting-edge technology in commercial real estate by providing the only certification for rating the infrastructure, connectivity and technological capacity of commercial buildings. WiredScore launched Wired Certification in 2013 in partnership with Mayor Bloomberg and the City of New York. Since launch, more that 350MM square feet of commercial real estate in more than 1,000 buildings has been Wired Certified globally. International demand for the digital connectivity rating system has seen the company expand operations to the United Kingdom, France, Germany and soon, Canada.

In an increasingly tech-driven economy, connectivity is fast becoming the most critical factor for tenants when selecting office space. The widely recognized Wired Certification seal is a trusted symbol that identifies buildings that have been independently certified to provide the best-in-class connectivity infrastructure that businesses require to thrive. For more information on Wired Certification or to find Wired Certified buildings, visit: http://wiredscore.com/

About Fifth Wall Ventures

Fifth Wall Ventures is a venture capital firm focused on technology solutions for the Built World, redefining how the world interacts with its physical environment. Fifth Wall is connecting the world’s largest owners and operators of real estate with the entrepreneurs and innovators building revolutionary new companies at the intersection of real estate and technology. With $240M in assets under management, Fifth Wall identifies businesses from all sectors of the Built World, including retail, industrial, hospitality, multi-family, homebuilding, office, and brokerage to make physical spaces more accessible, affordable, efficient, personalized and intimate. For more information on Fifth Wall Ventures, its partners and portfolio, please visit: https://fifthwall.vc/

About Bessemer Venture Partners

Bessemer Venture Partners (BVP) is a $4B venture capital firm that funds consumer, enterprise and healthcare startups around the world, from seed stage to growth. BVP funded the early stages of Blue Apron, Pinterest, Skype and Twitch and helped build 117 IPOs including Twilio, Yelp, LinkedIn, Shopify, MindBody and Wix. Follow us @BessemerVP.

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