How do you gauge your relative utility consumption? Typically, you look at the bills. But costs alone only tell a small part of the story, especially for multi-family housing. Now building owners and property managers have a dynamic tool at their disposal: WegoWise. The name details the utilities it catalogs: water, electricity, gas and oil.
Within its first year, this web-enabled software platform, developed by BlueHub Capital and our partners New Ecology and Barun Singh and funded by BlueHub, boasted one of the largest energy databases in the nation. By drawing on that data, WegoWise is the most cost-effective way for owners of multi-family housing—affordable or otherwise—to understand their utility consumption. The platform normalizes data for climate, for construction characteristics, for building type, then benchmarks the results across a portfolio or against specific criteria, such as similar types of buildings. The result: Customers can pinpoint true problem areas and estimate savings from upgrades—then act on that information, realizing cost savings that pay for WegoWise many times over.
In September 2018, AppFolio acquired WegoWise to expand its development and reach. It employs over 25 people who are creating tools that enable people to make smarter decisions about how they build and invest in buildings.