December 19, 2023
As a refresher, Cadence OneFive speeds up decarbonization of existing multifamily buildings. Our SaaS platform (Momentum) delivers streamlined workflows and market transparency so owners, capital providers, and contractors can transact with confidence.
2023 new ARR: $310.7k
12 new customers in 2023
$9.7k new ARR since last update
$1.4M 2023 revenue to date
Projected $150K average monthly gross burn in Q4
We welcomed François Huet, our new Head of Engineering, on Nov. 30! A veteran of startups as well as Amazon and Microsoft, François stood out amongst an exceptionally strong pool of engineering leaders for his deeply personal and caring approach to mentorship, strong commitment to climate action, and aligned vision for the future of Cadence OneFive. François will be leading our technical roadmap and growing our engineering organization. We’re eager to learn and to build with him!
New contract serving NYC affordable housing: Cadence OneFive received a grant to cut emissions and decarbonize 300 affordable housing buildings in New York City’s portfolio. Our partner, Kinetic Communities, will use our software to optimize Local Law 97 compliance and develop customized decarbonization strategies for each building to meaningfully reduce their carbon footprint. This NYSERDA grant specifically serves under-resourced communities, furthering climate equity.
LL97 thought leadership: Cadence OneFive provided building science input and data analysis support to Urban Green Council for two publications. In Part 1 we helped size the market; in Part 2 we identified building upgrades and applied them at scale to an entire market segment. The articles describe the types of work needed in these buildings, who might do the work, and the associated time and capital expense estimates.
End-of-year sales slowdown in real estate’s closing season. We’ll factor in cycles earlier next year.
Industry jargon makes onboarding difficult. François is documenting to ease future hires.
Intros to excellent freelance UI designers to keep our platform simple as it becomes more sophisticated.
Intros to a controller for an end-of-year assessment, given we’re too small for audited financials but care about controls.
Please share Nikhil Bobb (New York/Remote) and Danni Friedland (Israel/Remote) with your climate-focused portcos. We were impressed by these capable engineering leaders interested in transitioning to climate work, and we’d love to see them land in impactful roles.