Building Management Platform, Tether, Raises A$590k For Global Expansion

Proptech startup Tether has successfully raised NZ$655,000 (A$592k) through investments from high net worth individuals across three continents, sidestepping traditional venture funding. This new capital will support the company’s expansion into Australia and Europe, marking a significant milestone in its global strategy.

In May 2023, Tether garnered NZ$844,050 via the crowdfunding platform Snowball Effect, bringing its total funds raised to NZ$1.5 million (A$1.36m). This impressive fundraising effort underscores the confidence investors have in Tether’s innovative approach to building management and its potential for global impact.

Founded in 2017 by Brandon Van Blerk, Tether provides facilities managers with a comprehensive platform to monitor building analytics, aiming to cut carbon footprints and operational costs. The platform offers a unified view of a building’s performance, integrating data from various sources to provide actionable insights.

The company has developed locally manufactured sensors that are as easy to install as smoke alarms. These sensors deliver real-time performance insights, predictive maintenance reports, and recommendations for optimizing heating, cooling, and lighting systems. They also identify air quality and other environmental hazards, ensuring a safe and efficient building environment.

Tether’s platform is designed to ensure building upgrades meet their cost and carbon reduction targets, simplifying energy reporting and ESG compliance. Its clients include Westpac, Douglas Pharmaceuticals, BRANZ, and Kainga Ora. Recently, Tether installed its 10,000th sensor in a New Zealand building, a testament to its growing influence in the industry.

Van Blerk explained that the sensors don’t require WiFi and are self-powered, functioning as mini radio transmitters to relay data in real-time to a cloud-based analytics platform. This unique feature allows for seamless data collection and analysis without the need for complex infrastructure.

Tether surpasses single-source data monitoring by integrating and analyzing multiple datasets, functioning as a facilities team coach. This approach removes guesswork and simplifies the process of achieving the performance goals set for a building. Their technology offers a comprehensive solution for building management, consolidating all necessary tools into one platform.

Van Blerk aimed to consolidate building monitoring and maintenance into a unified platform.

“Previously, creating a comprehensive view of a building’s performance required multiple technologies—such as occupancy sensors, air and water quality monitors, and smart meters for electricity consumption—that didn’t integrate seamlessly,” he noted. “Without this integration, assessing performance and driving improvement was challenging. Tether solves this problem by providing a cohesive and interconnected platform.” – Brandon Van Blerk, Tether’s Founder

Having established a strong presence in New Zealand and secured early customers in Spain, Tether is set to expand into Australia, the UK, and Europe next month, thanks to a new partnership with Ricoh and their workplace experience platform, RICOH Spaces. This expansion is a significant step in Tether’s mission to revolutionize building management on a global scale.

“Our latest funding and market expansion highlight our dedication to fostering a sustainable, data-driven future of work. Tether harnesses real-time data to help organizations lower their carbon footprints and enhance workplace health, pioneering a future where buildings surpass their performance goals. Our commitment to innovation and sustainability drives us to push the boundaries of what’s possible in building management.” – Brandon Van Blerk, Tether’s Founder

With its advanced technology and strategic partnerships, Tether is poised to lead the charge in transforming building management, ensuring buildings worldwide operate more efficiently and sustainably.

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