Friends+Family

November 2, 2023

TLDR: 10 customers, got MBE certification and won the Urban Future prize.

Hi friends,I hope you’ve had a great wrap-up to your summer! Many of us at Cadence OneFive got some R&R in August, and we’ve had an eventful fall so far, including new customers, certifications, and a prize!

As a reminder: Cadence OneFive is building software to speed up decarbonization of existing multifamily buildings.

We won the 7th Urban Future Prize Competition! We were among the top 8 of 224 applicants, and ultimately one of two winners, each receiving a cash prize of $50K and admission to the ACRE incubator. ACRE boasts a company survival rate since 2009 of nearly 90%, aggregate capital raise of $2.3B, and 4,000+ jobs created. We’re honored to have been selected by a panel of venture investors, and excited to join the ACRE ecosystem! See a slightly truncated version of the winning pitch here

L-R: Principal Mechanical Engineer Jason Block, and Co-Founders Bomee and Marc, and the Ed McMahon-style check, courtesy of Urban Future Lab, NY Community Trust, and MUFG Bank.

• We’ve added 10 new customers so far in 2023! We are on track to close the year with $400k in new contracts. $500k in recurring revenue is an important milestone for pre-seed companies, and we’ve making great progress toward that goal.
• Launched the new contractor procurement feature! At the start of 2023, we set a goal of being able to support construction planning from preliminary scope to contractor procurement - and we’ve achieved it! The new feature allows an owner or owner’s rep to create standardized construction RFPs and receive bids right in the platform. It will be available first to the applicants, lenders and service providers of the NYS Climate Friendly Homes Fund.
• Became a NYC-Certified Minority Business Enterprise. This is important to us because some of our partners and clients–public agencies, utilities, and affordable housing organizations–have goals they have to meet in contracting with MBEs.

Flashback to Climate WeekNYC

Climate Week 2023 is done, but not forgotten! Here are some highlights from the events we participated in!

• Marc co-led a discussion on what we know and what we only think we know about centralized vs decentralized heating strategies, hosted by NYSERDA. This was an invite-only event, fondly nicknamed the “nerd-off,” of a veritable who’s who in NYC building energy, including the Chief Program Officer of the NY Public Service Commission, ConEd’s VP of Energy Efficiency, NYC Housing Preservation and Development’s Chief Sustainability Officer, and many senior leaders of the (nerdiest) NYC energy consultancies. It was Amazing!
• Bomee shared a panel with Luke Falk, COO of Clean Path New York and Pat Sapinsley, head of the Urban Future Lab, moderated by Michelle Li of Clever Carbon, at the fabulous Marketplace of the Future event, which was an impressive combo of pop culture and very serious climate action thinking; and
• Cadence OneFive participated in Streetlife Ventures’ and Burnt Island Ventures’ climate tech showcase.