Soon, Even Your Building Will Be Smarter Than You Are
We’ve all heard of smart cities – intelligent trash cans, safety-first sensor-enabled lights when you walk down the street, and even those pesky red light cameras. But what about a place where many of us spend more than 8 hours a day – our office buildings? Amanda Signorelli sat down with Cleve Adams, CEO of Site 1001, to learn about “smart buildings,” which is on track to become a $36B industry by 2020.
- Amanda: Cleve, I will admit I am not familiar with the Smart Building industry but it seems huge. Tell me a little about your company?Cleve: You can’t have smart cities without smart buildings. While smart cities are a hot topic, people spend about 90% of their life inside of buildings. Site 1001 knows buildings are talking, but people aren’t able to listen – Site 1001 translates building data into actionable and proactive information.
- Amanda: What’s unique about Site 1001 in this space?Cleve: We were lucky in that Site 1001 was born as a “”skunkworks”” project inside of JE Dunn, one of the largest and most respected general contractors in North America. Our first full customer implementation came to us from JE Dunn when they completed construction.
- Amanda: Walk me through the business model.Cleve: Our customers are building owners and operators – the people responsible for making sure the building is running in top shape. We deliver the software as a service, so you basically pay a subscription fee that’s based on the total number of square feet Site 1001 is used to manage. There’s nothing to install, it’s mobile first, so it’s available wherever and whenever, and there’s no per-user fee so the customer can have as many users as they like- employees, outside contractors, etc.
- Amanda: What’s in store for the future? What are the trends you’re watching closely in this space?Cleve: Cybersecurity is going to have an important impact on this industry. While we continue to outfit our buildings with sensors, M2M communications, automation and AI, we need to make sure we’re staying on top of any and all risks. This industry will soon be a combination of technology and security solutions constantly communicating.
Techweek: IOT is a major trend we see across all our markets but most people tend to think about in small terms, like Nest controlling the thermostat in your home. However, it’s clear there will be increasingly more applications at the enterprise level. Smart buildings are the first example of this movement and huge opportunity. We’re looking forward to following companies as they continue to move into this space – we’ll be watching Site 1001!