Agentic Retrofit Intelligence for the largest asset class on earth.
AI agents that ingest, model, and reason over building-level data to automate the most expensive knowledge work in commercial real estate.
The Origin
We saw a gap no one else could fill.
Energy audits are a $3B+ annual market, deployed across thousands of buildings, but stuck in the 1990s: manual, expensive, slow, and non-scalable. We built AI that does in minutes what took consultants weeks, at 5% of the cost and 1% of the time. We deployed it into the fastest-growing beachhead in commercial real estate: responsible investing.
Traction
2024 proved the model.
Contracted ACV, Jan 2023 through Dec 2024.
“Climate risk is investment risk. In the near future, and sooner than most anticipate, there will be a significant reallocation of capital.”
- Larry Fink, Chairman & CEO, BlackRock
Figures in CAD
The Headwinds
In 2025, things shifted.
Annual Contract Value
“In 2025, we removed [ESG] from more than 50 European strategies impacting $51 billion in assets. The language became too politicized to be useful.”
- Larry Fink, Chairman & CEO, BlackRock
Shifting Budgets
A volatile economy and downward pressure on ESG mandates shrank portfolio-level management budgets. Spending moved to the asset level, where buyers favor transactional, project-tied purchases over ongoing SaaS subscriptions. The market shifted from operational spend to capital spend overnight.
AI-Driven Procurement Freeze
CTOs without a credible AI mandate were replaced. "Stop purchase" orders went out on anything that could not be deployed under an AI-forward paradigm. At the same time, enterprise security reviews and contractual infrastructure for AI vendors lagged far behind demand, stalling procurement even where intent existed.
The New Play
And so we adapted
From product to infrastructure.
Plaid for buildings.
AI agents that embed directly into institutional CRE workflows. Not a dashboard. Not a report. Autonomous intelligence that ingests, reasons, and acts on building data at the point of decision.
Serving every dimension of building modernization risk: energy security, business continuity, market price of carbon, investor sentiment. Be in every transaction.
GTM Strategy
Why this model wins.
1. Embed across the value chain
MCP-native agents that interface with any AI workflow. Tokenized purchasing: per-query, per-building, per-transaction. Present wherever decisions touch building data.
Disintermediate traditional SaaS.
2. Partner with service providers
Fill the consulting gap by arming engineering firms and advisors with our intelligence. Better margins for them. Distribution at zero CAC for us.
Drive CAC to zero.
3. Capture downstream revenue
High-quality project recommendations drive implementation work. Service providers who benefit from our analysis become a recurring revenue channel.
Monetize turning insights into action.
In Practice
The new model in action.
Mission-driven multifamily investor · $3.3B AUM · 19,000+ units
We have established similar relationships with Madison International, Starwood Capital, Tishman Speyer, and more.
Proof It's Working
2.5x Q1 bookings under the new model.
Q1 2026 bookings hit $434K, 2.5x the same quarter last year under the SaaS playbook. On Q1 trajectory alone we project north of $3.5M in bookings for 2026.
Bookings by Quarter (ACV, CAD)
Q1 2025
$178K
SaaS playbook
Q1 2026
$434K
2.5x prior year. New model.
2026
>$3.5M
Projected based on Q1 performance
Figures in CAD
The Old World
SaaS: Linear by design
Fixed inputs, fixed outputs, fixed value. Every new use case requires new development.
Manually Ingest
Collect over email. Parse templates.
Model
Visualize
Platform visuals. CS prepares decks.
✗ Manual collection bottleneck
✗ Fixed outputs require custom development
The New World
Agentic AI: Flexible by architecture
Any data source in. Any output format out. The model sits behind MCP, accessible from Claude, Copilot, ChatGPT, or our own workspace.
Agentic Flow
Parse, confirm, infill
MCP
Model
Data flows both ways
Validation-as-a-Service
Prompt
Any output format
Audette
Claude
Copilot
ChatGPT
The Business Model
From SaaS + services → AI + validation
Revenue shifts from per-asset licensing to per-interaction consumption. The validator role is the margin unlock.
Legacy
Pay per asset
Pay per analysis
Pay per onboarding
Revenue capped by assets under management
New
Pay per organization
Pay for consumption
Pay for validation
Revenue scales with workflows served, not assets counted
The Market
Five entry points. One intelligence layer.
Bottom-up: institutional CRE buildings that need retrofit intelligence, priced per workflow.
1 IEA Global Buildings Tracker. NA subset: 600K institutional-quality (Clarion/RCG 2024). 2 MSCI RCA via Altus Group. NA = ~95K, $560B volume. 3 GRESB 2025: 2,382 assessments. Eligible pool est. from PRI signatory growth ($140T AUM, UN PRI). 4 NA: 40+ jurisdictions, ~500K buildings (IMT/Facilities Dive). EU EPBD + UK MEES + Asia add ~1.5M. 5 $638B issuance, +21% YoY. Natixis GSH 2024.
Traction
Real traction in the hardest market to crack.
Notable Customers
Partners
Figures in CAD
Customer Voices
In their own words*
“It used to take us three years to get into actual projects. Now with Audette, we get there close to day one. We can use it to make real decisions.”
VP Sustainability
Global RE Investment Manager · $7B AUM
“The investment is a no-brainer to me. We can easily demonstrate cost savings and value creation at a multiple on the cost of the platform.”
MD Sustainability
Global Multifamily Platform · $79B AUM
“No investment manager cares about saving 10 tons of CO2. Audette's ability to translate that into financial opportunity is actually pretty unique.”
Head of ESG Americas
Global Asset Manager · $126B AUM
“Sustainability can and should become a driver of operational alpha. Audette helps us identify CapEx interventions to realize that value.”
Global Head of Sustainability
Global Opportunistic RE Platform · $115B+ AUM
“Audette gave us a way to identify at portfolio scale where our greatest opportunities lie for OpEx improvements and NOI gains.”
Sr. Manager, Sustainability
US Multifamily REIT · $22B AUM
“Once Audette quantified the potential value creation and costs of decarb, that was the big catalyst for stakeholder engagement.”
Director, Sustainability
US Apartment REIT · $10.6B AUM
“I just haven't seen an alternative that is competitive.”
Managing Director · European RE Manager · $11.6B
“One of the first engagements where we've replaced consultants with technology.”
VP Sustainability · Bay Area Family Office · $7B+
“We came for the value and stayed for the team.”
VP Sustainability · PE-Backed RE Manager · $2B
*We are allowed to share logos behind an NDA. Full customer use cases available in data room.
The Team
Ready for Round 2.
12 FTEs. Six years working the problem. Ready to scale.
Christopher Naismith
Founder & CEO
Building scientist. Decade designing energy retrofits for institutional CRE. Led audit programs across hundreds of commercial buildings. JPMorgan's RE sustainability team: "one of the top five building decarb engineers worldwide."
Pallen Chiu
Chief Commercial Officer
Stanford MBA. 7 years at One Medical (now Amazon), built the B2B engine to $70M+ ARR across 8,000+ enterprise customers through IPO and acquisition. SVP Customer Success at Twin Health.
Tim Cull
VP Technology & Product
25 years in engineering leadership. 10+ years at BlackRock building quantitative portfolio and trading systems. Director of Engineering at Adobe (35-person team). Principal Architect at UrbanFootprint (climate data).
The Opportunity
$2M gets you further here than anywhere else.
Downside Protection: Immediate pivot into cashflow positive operating business at any time
Built for this moment.