BlueHub Capital is pleased to announce that on September 1, 2018, AppFolio, a $3 billion publicly traded leading provider of cloud-based business software solutions in the real estate and legal markets, acquired substantially all of the assets of WegoWise—a national leader in energy benchmarking services, co-founded, financed, and led by BlueHub Capital (formerly Boston Community Capital).
Under BlueHub Capital's leadership, WegoWise grew from a small startup with a big vision in 2010 to an established enterprise. WegoWise developed one of the earliest tools to collect real-world data on energy and water usage to help the multi-family housing industry—particularly multi-family affordable housing—develop strategies to reduce waste, to cut costs, and to create incentives for residents to conserve. It also developed utility tracking technology and built the largest multi-family utility benchmarking and verification database in the United States—60,000 buildings representing 2 billion square feet of real estate.
We are proud of our role in growing WegoWise, first by identifying a need that the marketplace hadn’t recognized, then by providing the financing and leadership that supported its growth. WegoWise’s technology and services for affordable housing and multi-family properties will be strengthened by integrating with a comprehensive approach to managing real estate through AppFolio’s cutting edge product suite and strong market position.
For more information, read the news release from AppFolio.