Goby Turns Profitable After Receiving Series A Funding
Today, Goby, a data and analytics platform for real estate portfolio optimization, announces its first profitable month. Goby has become profitable on an operational basis less than 18 months after receiving its series A funding from GreenSoil Building Innovation Fund.
In the first quarter of 2017, Goby increased its entire customer base by 10%, expanding to nearly 1 billion square feet in paid subscribers. Through this growth, Goby has maintained 99% revenue retention. Goby’s SaaS revenue alone grew 120% last year, surpassing the budgeted projections by 17%.
“The Series A investment has created an opportunity for growth, powering accelerated product innovation, enhancement of team capabilities, and expansion of our global outreach,” says Ryan Nelson, COO.
“Goby’s consistent progress towards profitability was achieved by following a diligent, methodical approach to value creation and responsible business practices. Our adherence to this mission has fueled laser sharp focus on our SaaS roadmap and core solutions. We have reached this important milestone as a direct result of this focus, and expect our profitability and cash flow generation to continually increase as our thriving customer base and international footprint expands.”
Goby is the leading energy management, sustainability reporting, and invoice automation platform for the corporate and commercial real estate industries. Goby helps investors and owners save time, mitigate risks, and increase NOI with powerful analytics. Founded in 2008, Goby has 50 employees and hundreds of clients who manage nearly 1 billion square feet from the cloud. Goby had been recognized by the U.S. EPA with an ENERGY STAR Sustained Excellence Award and is the first GRESB Premier Partner as well as an Associate Member. Additionally, Goby is a LEED Proven Provider and a SASB Advisory Partner. In 2015, Goby raised $5M in series A funding, backed by Toronto-based GreenSoil Building Innovation Fund (GBIF), with participation from existing investor, Second Century Ventures, the venture arm of the National Association of Realtors. Learn more at www.GobyInc.com.
Read the full press release about Goby’s profitability here.