Let's Chat

Please select a below topic related to your inquiry and we’ll get back to you shortly.

Afghanistan
Albania
Algeria
Andorra
Angola
Antigua and Barbuda
Argentina
Armenia
Australia
Austria
Azerbaijan
The Bahamas
Bahrain
Bangladesh
Barbados
Belarus
Belgium
Belize
Benin
Bhutan
Bolivia
Bosnia and Herzegovina
Botswana
Brazil
Brunei
Bulgaria
Burkina Faso
Burundi
Cabo Verde
Cambodia
Cameroon
Canada
Central African Republic
Chad
Chile
China
Colombia
Comoros
Congo, Democratic Republic of the
Congo, Republic of the
Costa Rica
Côte d’Ivoire
Croatia
Cuba
Cyprus
Czech Republic
Denmark
Djibouti
Dominica
Dominican Republic
East Timor (Timor-Leste)
Ecuador
Egypt
El Salvador
Equatorial Guinea
Eritrea
Estonia
Eswatini
Ethiopia
Fiji
Finland
France
Gabon
The Gambia
Georgia
Germany
Ghana
Greece
Grenada
Guatemala
Guinea
Guinea-Bissau
Guyana
Haiti
Honduras
Hungary
Iceland
India
Indonesia
Iran
Iraq
Ireland
Israel
Italy
Jamaica
Japan
Jordan
Kazakhstan
Kenya
Kiribati
Korea, North
Korea, South
Kosovo
Kuwait
Kyrgyzstan
Laos
Latvia
Lebanon
Lesotho
Liberia
Libya
Liechtenstein
Lithuania
Luxembourg
Madagascar
Malawi
Malaysia
Maldives
Mali
Malta
Marshall Islands
Mauritania
Mauritius
Mexico
Micronesia, Federated States of
Moldova
Monaco
Mongolia
Montenegro
Morocco
Mozambique
Myanmar (Burma)
Namibia
Nauru
Nepal
Netherlands
New Zealand
Nicaragua
Niger
Nigeria
North Macedonia
Norway
Oman
Pakistan
Palau
Panama
Papua New Guinea
Paraguay
Peru
Philippines
Poland
Portugal
Qatar
Romania
Russia
Rwanda
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines
Samoa
San Marino
Sao Tome and Principe
Saudi Arabia
Senegal
Serbia
Seychelles
Sierra Leone
Singapore
Slovakia
Slovenia
Solomon Islands
Somalia
South Africa
Spain
Sri Lanka
Sudan
Sudan, South
Suriname
Sweden
Switzerland
Syria
Taiwan
Tajikistan
Tanzania
Thailand
Togo
Tonga
Trinidad and Tobago
Tunisia
Turkey
Turkmenistan
Tuvalu
Uganda
Ukraine
United Arab Emirates
United Kingdom
United States
Uruguay
Uzbekistan
Vanuatu
Vatican City
Venezuela
Vietnam
Yemen
Zambia
Zimbabwe
Thank you!
Your submission has been received!
Oops! Something went wrong while submitting the form.
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
RELATED TAGS
SHARE THIS ARTICLE

Filter by

Thought Leadership

5 articles found

Press Releases
|
August 4, 2022

Switch is included in the seventh annual Real Estate Innovations Overview by KPMG

Media
|
July 22, 2022

How digitising buildings can decarbonise the built environment

Media
|
July 21, 2022

The rise of ESG in real estate: How digitising buildings can decarbonise the built environment

Media
|
May 25, 2022

In Colorado, new buildings will pollute less under new bill. But what impact will that have?

Colorado Energy Office says legislation builds on previous measures; critic says more is need to address urgent problem of climate change

Media
|
May 17, 2022

The 5 Megatrends Shaping Technology in Portfolio Performance

Five key megatrends are shaping the way technology is used to improve the performance of commercial real estate portfolios.

Media
|
March 9, 2022

How buildings will shape us: 3 PropTech megatrends that will change our built environment in 2022

Press Releases
|
January 25, 2022

Switch Automation Joins Smart Building Certification Ecosystem

Media
|
January 25, 2022

The switch to a more sustainable real-estate sector: Female representation in the industry

Radio Interview

Media
|
June 8, 2021

We discuss the future of smart cities with Switch Automation

Press Releases
|
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.

Stay connected

Subscribe to our newsletter for the latest announcements, exciting feature updates and Switch Insights.

Subscribe
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Policy for more information.