A Chicago software firm that helps building managers bring tech upgrades to their spaces has raised more funding from big names as it looks to grow its product.
Cohesion announced Wednesday that it raised $15 million in new funding led by Morgan Stanley's Next Level Fund and Hyde Park Angels. Other backers include Citadel founder Ken Griffin, GCM Grosvenor CEO Michael Sacks and Environmental Systems Design chairman Raj Gupta.
The Series A round follows the $6.5 million Cohesion raised in 2020.
Founded in 2018, Cohesion is a spinout of Chicago-based Environmental Systems Design that offers software to building managers that lets them distribute mobile keycards to tenants, facilitate waiver signings, and give tenants an easy way to book building amenities and make maintenance requests, among other things. It was originally built internally by ESD to manage operations at 151 N. Franklin St., a building home to Facebook’s Chicago headquarters, and was spun off by CEO Thru Shivakumar in 2018.
The startup's goal is to improve the tenant experience and save money for building managers, while also providing data around how and when tenants are using building spaces.
The startup, one of Chicago Inno's 21 Startups to Watch in 2021, counts JLL, CBRE and The John Buck Company among its customers.
Cohesion currently has more than 100 employees.
