Degree Analytics gets $5m investment from LiveOak to develop its facilities management solution
Degree Analytics, a provider of data-centric space management and energy optimization solutions to US higher education facilities, has secured $5 million in early-stage venture capital (VC) funding primarily from LiveOak Ventures, a Texas investor. The aim is to further develop its offering and its rollout to more universities and colleagues across the US.
The campus planning platform and space optimization solution from Degree Analytics has already been successfully used by the University of Kentucky and the University of Central Florida in the US. The new VC money from LiveOak Ventures will enable the vendor to search out more partners and enhance its solution with new functionality, as it talks to more and more Higher Education institutions about what they actually need, based on the footfall in their facilities.
The vendor aims to unlock new efficiencies and cut costs at colleges and universities by identifying how spaces are actually used, and when, by analyzing or instituting the available data to identify when heating is required, or a reconfiguration of a flexible or underused space would be advisable.
The solution can enhance student experiences by ensuing spaces are used optimally and aid the design of any new extensions as well. By harnessing real-time data insights any campus can be run to maximize its utility. AI-driven machine learning (ML) techniques are used to deliver useful data analytics to clients and partnering with institutions can promote engagement and effective monitoring.
Degree Analytics says it already processes billions of datapoints from multiple campus systems in real-time across the US, delivering actionable insights to over 50 universities. But it is convinced it can do more for administrators with new funding for better data-led use of smart energy management systems.
“This funding represents a pivotal step in our mission to support higher education,” said Aaron Benz, Founder and CEO of Degree Analytics. “Our platform clarifies the complexities of campus space utilization, allowing leaders to make better informed decisions that reduce costs, improve sustainability, and enrich the student experience. We pride ourselves on partnering with institutions to deliver results.”
Customer testimonials
According to Erik Jarvis, the University of Kentucky’s Smart Campus Lead: “Degree Analytics doesn’t just provide us with data – they guide us in translating it into real-world impact. With their help, we’ve shifted from abstract discussions to actionable insights that have improved everyday campus life.”
Commenting on their own experience, Jon Bates, Assistant Vice President, Real Estate & Space Administration at the University of Central Florida, said: “In a fiscal environment where new construction and capital investments are challenging, and you must align with a business mentality focused on returns on investment (RoI), it is critical to understand actual utilization patterns reinforced by data. Degree Analytics has allowed us to leverage the power of real-time data in our real estate planning designs.”
