Noda Funding, Investors & Competitors

Noda has raised $120M across 3 funding rounds, most recently a $13M Series B in April 2024.

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Last Noda funding round

$13M

Series B · Apr 2024

Cumulative funding Noda raised

$120M

across 3 funding rounds

Key investors in Noda

  • Northzone
  • The Venture Collective
  • JLL Spark
  • SoftBank Group
  • noa
  • SignalRank
  • Committed Capital
  • Keyframe Capital Partners

Noda Overview

About Noda

Noda is a London-headquartered proptech company that retrofits buildings with IoT sensors and AI analytics to automate HVAC, lighting, and occupancy management. Rebranded from Infogrid in 2023, the platform integrates with BMS like Honeywell and Schneider Electric, serving commercial portfolios for clients such as British Land. Noda processes data from thousands of sensors per site for fault detection.


Founded

2018

HQ

United StatesWashington, DC

Website

noda.ai

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Noda Funding History

Noda has raised a total of $120M across 3 funding rounds.

Noda's first fundraising round was a $16M Series A in November 2020. The most recent completed round was a $13M Series B in April 2024.

Noda funding rounds

Noda funding rounds
DateStageInvestorsRaisedDeal Summary
Apr 2024Series BKeyframe Capital Partners (lead); noa (lead); The Venture Collective; Northzone$13MNoda raised $13 million in a Series B - II funding round on April 22, 2024, with Keyframe Capital as a new investor. The round included participation from noa, Northzone, and The Venture Collective. This appears to be an extension round, similar to Infogrid's Series B extension co-led by Keyframe Capital and A/O (likely noa) with the same investors. No details on Noda's business, products, traction metrics, market context, or use of funds were available in the sources.
Apr 2023Series BNorthzone (lead); JLL Spark; Pictet Private Equity Investors S.A.; SoftBank Group; Committed Capital; The Venture Collective; Original Capital; SignalRank$91M-
Nov 2020Series ANorthzone (lead); JLL Spark; Jigsaw VC; Concrete Venture Capital; The Venture Collective; Blue Impact Ventures$16M-

Who has invested in Noda?

13 investors have backed Noda across its funding rounds, including Northzone, The Venture Collective, JLL Spark, SoftBank Group, noa and SignalRank.

Lead investors include Keyframe Capital Partners, noa and Northzone.


Noda Investors

Investors in Noda by funding rounds participated
InvestorHQRoundsRoleFirst check
The Venture CollectiveUnited StatesNew York City, NY3ParticipantNov 2020
NorthzoneUnited KingdomLondon3LeadNov 2020
JLL SparkUnited StatesSan Francisco, CA2ParticipantNov 2020
Pictet Private Equity Investors S.A.SwitzerlandGeneva1ParticipantApr 2023
Jigsaw VCJerseySt. Helier1ParticipantNov 2020
SoftBank GroupJapanTokyo1ParticipantApr 2023
Keyframe Capital PartnersUnited StatesNew York City, NY1LeadApr 2024
Committed CapitalNetherlandsAmsterdam1ParticipantApr 2023
Concrete Venture CapitalUnited KingdomLondon1ParticipantNov 2020
Original CapitalUnited StatesSan Francisco, CA1ParticipantApr 2023
noaUnited KingdomLondon1LeadApr 2024

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Acquisitions by Noda

Noda has acquired 1 company to date.

Last acquisition by Noda was on November 2nd 2022. Noda acquired Aquicore for $43M.


Latest Acquisitions by Noda

Aquicore
Description
Aquicore is a New York-headquartered proptech company delivering a SaaS platform for commercial real estate asset operations. The platform integrates real-time building data from IoT sensors, energy management systems, and occupancy trackers to enable predictive maintenance, space utilization analytics, and lease abstraction. Adopted by over 1 billion square feet of properties, it serves institutional owners including PGIM Real Estate and BentallGreenOak, optimizing net operating income through automated workflows and ESG reporting features launched in 2022.
HQ CountryUnited States
HQ City
Washington, DC
Deal Date2 Nov 2022
Valuation$43M
EV/Revenue
EV/EBITDA

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Noda Competitors

Noda competitors include listed companies like Tempus AI, iFlytek, UiPath and SenseTime Group, and private ones like MEGVII and Terminus Technologies.

Public and private companies comparable to Noda
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
MEGVIIChinaBeijingPrivate$183M-$4B21.9x
Tempus AIUnited StatesUnited StatesPublicly listed$1.3B($131M)$15B10.1x
iFlytekChinaChinaPublicly listed$4B$465M$14B3.4x
UiPathRomaniaRomaniaPublicly listed$1.6B$70M$7.2B3.5x
SenseTime GroupChinaChinaPublicly listed$748M($70M)$6.2B5.8x
Terminus TechnologiesChinaBeijingPrivate--$2.9B-

Noda Public Comps

Noda is still privately-owned, but its public comps include CrowdStrike, SAP, Salesforce, ServiceNow, Adobe, Johnson Controls, Datadog, Moody's, Workday and MongoDB.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
CrowdStrike$4.8B($12M)51.4x44.5x(19816.2x)151.0x
SAP$42B$13B5.8x5.4x18.4x17.1x
Salesforce$42B$13B5.5x5.2x17.8x12.2x
ServiceNow$13B$2.6B11.1x9.6x57.2x25.0x
Adobe$24B$9.3B4.3x3.9x10.9x8.2x
Johnson Controls$24B$3B4.0x3.7x31.0x20.0x
Datadog$3.4B($588K)23.6x19.4x(137813.0x)77.6x
Moody's$7.7B$3.8B11.2x10.6x22.5x20.1x

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Common questions about Noda

When was Noda founded?Noda was founded in 2018.
Where is Noda headquartered?Noda is headquartered in Washington, DC, United States.
Is Noda publicly listed?No, Noda is a private, VC-backed company.
How much funding has Noda raised?Noda has raised $120M across 3 funding rounds.
What was Noda's last funding round?Noda's last funding round was a $13M Series B in April 2024, led by Keyframe Capital Partners and noa.
Who are Noda's investors?Noda's investors include The Venture Collective, Northzone, JLL Spark, Pictet Private Equity Investors S.A., Jigsaw VC, SoftBank Group, Keyframe Capital Partners, Committed Capital, Concrete Venture Capital, Original Capital and 3 others.
Which companies are comparable to Noda?Companies comparable to Noda include MEGVII, Tempus AI, iFlytek, UiPath, SenseTime Group and Terminus Technologies.
How many companies has Noda acquired?Noda has acquired 1 company, including Aquicore.
What was the largest acquisition by Noda?The $43M acquisition of Aquicore in November 2022 is the largest acquisition Noda has made to date.

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