United States, Illinois, Chicago - 05/16/2019 (PRESS RELEASE JET)
COHESION, an intelligent building software company, this week announced its launch in The John Buck Company's signature 155 North Wacker Class A commercial office high-rise in downtown Chicago, IL. COHESION's comprehensive, IoT-enabled platform unites building workflows to enhance tenant experiences, while generating actionable insights for owners and operators to increase building value.
COHESION spun-out of ESD, a leading Chicago-based global engineering firm at the forefront of designing intelligent buildings, in August 2018, as an independent technology firm. "We are excited about the launch of COHESION. We have been talking with real estate owners and operators for years about how their portfolios require more sophisticated technology to maximize asset value. We believe COHESION's technology is capable of addressing these demands today and in the future." says Raj Gupta, Executive Chairman of ESD.
Thru Shivakumar, former Senior Vice President at GCM Grosvenor, is COHESION's CEO. Shivakumar expresses her optimism, "The real estate industry is experiencing significant technological disruption, and our solution benefits all stakeholders across the operational lifecycle - from owners to tenants. By connecting all the systems and human interactions in a building, we can provide the most powerful insights to deliver efficient and sustainable building operations."
COHESION's software solution reflects the collaborative brainpower of market leaders in real estate and technology. The John Buck Company, a premier Chicago-based real estate services developer, collaborated with COHESION from product ideation through commercial launch. COHESION's end-to-end solution leverages products by ioTium, the first commercially deployed software-defined infrastructure company for the industrial internet of things, resulting in a true secure building intelligence platform.
With this week's launch, COHESION is now live in a total of 2.1 million square feet across two Chicago Premier Class A properties: 151 North Franklin and 155 North Wacker, developed and managed by The John Buck Company. Nick Covello, Chief Information Officer at The John Buck Company says, "We partnered with COHESION with the goal of making our buildings the smartest and most connected properties in the world. Their technology is truly transforming our building and portfolio intelligence."
As a newly formed company, COHESION is currently fundraising and pursuing strategic partners. Michael Sacks, Chairman and CEO of GCM Grosvenor, and Steve Koch, former Global Chairman of Mergers and Acquisitions for Credit Suisse, are advisors. COHESION operates with a 24-person team based in Chicago (HQ) and Bangalore, India. The company plans to hire an additional 35 people in Chicago over the next year. Speaking to COHESION's growing momentum, Chicago Mayor Rahm Emanuel reflected that "Chicago is not only the best global tech hub to relocate or expand a company in, but it is also the best city to start a company. As COHESION opens its doors and hires more employees, they will grow in confidence, knowing Chicago is the home of a diverse, driven and skilled workforce."
COHESION is a secure and comprehensive platform that harnesses building information by uniting workflows and disparate systems to provide actionable insights for improving building operations and enhancing tenant experiences. Cloud-based and IoT-enabled, COHESION's platform is customizable, scalable and optimizable to the latest technological developments in the market. COHESION provides a single platform available in web and mobile interfaces with feature functionality for the tenant, operator and owner of a building and portfolio. COHESION is headquartered in Chicago, IL and is a spin-off venture of the large engineering design consulting firm, ESD. For more information, visit https://cohesionib.com
About The John Buck Company
Founded in 1981, The John Buck Company ("JBC") has an established track record and reputation as a premier, vertically-integrated real estate investment, development and operating company focused on major U.S. urban markets. Since inception, JBC has made principal investments in assets comprising more than $6.7 billion of gross value and acquired, developed, or redeveloped over 42 million square feet of office, multifamily, residential and mixed-use properties. For more information, visit www.tjbc.com.
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