--- title: Novem Joins SFU VentureLabs to Scale Its Property Risk Platform for Institutional Real Estate | Novem description: Novem helps CFOs and asset owners make building failure predictable so they can reduce Total Cost of Risk Ownership (TCRO) and insurance costs, protect net operating income (NOI), and support stronger asset valuations. image: https://www.novemdigital.com/hubfs/novem-resources/pr-sfu-venturelabs.jpeg --- [![Novem](https://www.novemdigital.com/hubfs/raw_assets/public/NovemZulbera_27/images/logo.png) NOVEM](https://www.novemdigital.com/) [Platform](https://www.novemdigital.com/platform/) [Industries](https://www.novemdigital.com/industries/) [TCRO](https://www.novemdigital.com/tcro/) [Partners](https://www.novemdigital.com/partners/) [Resources](https://www.novemdigital.com/resources/) [About](https://www.novemdigital.com/about/) Contact Us [![Novem](https://www.novemdigital.com/hubfs/raw_assets/public/NovemZulbera_27/images/logo.png) NOVEM](https://www.novemdigital.com/) [Platform](https://www.novemdigital.com/platform/) [Industries](https://www.novemdigital.com/industries/) [TCRO](https://www.novemdigital.com/tcro/) [Partners](https://www.novemdigital.com/partners/) [Resources](https://www.novemdigital.com/resources/) [About](https://www.novemdigital.com/about/) Contact Us ![Innovation hub building with a lit glass atrium at dusk](https://www.novemdigital.com/hubfs/novem-resources/pr-sfu-venturelabs.jpeg) Press Release # Novem Joins SFU VentureLabs to Scale Its Property Risk Platform for Institutional Real Estate Press Release April 28, 2026 3 min read By Novem Press Release Share Download PDF *Novem helps CFOs and asset owners make building failure predictable so they can reduce Total Cost of Risk Ownership (TCRO) and insurance costs, protect net operating income (NOI), and support stronger asset valuations.* **VANCOUVER, British Columbia, April 28, 2026:** Novem announced today that it has joined SFU VentureLabs, Simon Fraser University's accelerator for high-growth technology companies in British Columbia. The move supports Novem's next phase of growth as the company expands its Property Risk Platform across seniors living and multi-family residential, commercial mixed-use, and large public venue portfolios. SFU VentureLabs accelerates science and technology-based ventures, helping companies that have found product-market fit become profitable, sustainable businesses with programs, mentoring, and services tailored to growth. For Novem, that support comes at a time when institutional owners and operators are under growing pressure to reduce risk-related costs, improve capital planning, and provide stronger evidence of operational control to boards, lenders, brokers, and insurers. Novem is building a new category in the market: a Property Risk Platform for institutional real estate and insurance. The platform combines real-time monitoring of critical building systems with historical claims intelligence and a common data environment so customers can identify likely failure points earlier, prioritize action, and make risk-related decisions with audit-ready data. Early customer outcomes already demonstrate the financial value of that model. Novem-supported deployments have prevented a maximum probable $5M insurance claim, recovered more than $400K per year in hidden utility costs, reduced outbreak-related wage premiums by 65%, and helped customers maintain 0% annual insurance premium growth on aging assets. > "Institutional real estate is still managing too much risk through disconnected systems and after-the-fact reporting. SFU VentureLabs gives Novem a strong environment to sharpen commercial execution, strengthen strategic relationships, and scale a platform that turns invisible building risk into financial clarity."Clint Undseth, CEO, Novem > "What matters here is not just innovation. It is measurable financial control. As Novem grows, we are focused on helping owners reduce emergency spend, defend capital decisions, and show insurers and boards that risk can be managed with better evidence."David Crawford, Chief Financial Officer, Novem The announcement strengthens Novem's position as a British Columbia technology company building infrastructure for a market that has historically lacked a defensible, data-driven risk layer. It also supports the company's broader mission to make building failure predictable, so operational data can become a strategic financial asset rather than a fragmented byproduct. \### ### Notes to editors All customer outcome figures referenced in this release are Novem proprietary customer data. The following links are provided for editorial verification of SFU VentureLabs: \[1\] SFU VentureLabs Novem company profile: [https://venturelabs.ca/companies/novem-digital/](https://venturelabs.ca/companies/novem-digital/) \[2\] SFU VentureLabs BC Tech Association member directory: [https://wearebctech.com/members/member-directory/name/sfu-venturelabs/](https://wearebctech.com/members/member-directory/name/sfu-venturelabs/) ## About Novem Novem is an artificial intelligence (AI)-powered Property Risk Platform that makes building failure predictable for institutional real estate portfolios. By combining real-time monitoring with normalized claims and equipment data, Novem turns invisible risk into audit-ready financial evidence. CFOs and asset owners use Novem to reduce Total Cost of Risk Ownership (TCRO) and insurance costs, protect net operating income (NOI), support stronger asset valuations, and enter board, lender, and insurer conversations prepared with facts. Novem is headquartered in Vancouver, Canada. **Media contact** Novem [pr@novemdigital.com](mailto:pr@novemdigital.com) See what predictive looks like for your portfolio. Estimate how much risk-related cost your portfolio could avoid, then talk to an expert about where to start. [Estimate Your Savings](https://www.novemdigital.com/estimate-your-savings/) Contact Novem ## How can we help? Pick the path that fits where you are. Every route reaches our team. [Estimate Your SavingsSee what predictive operations could save your portfolio. Reviewed by our team.](https://www.novemdigital.com/estimate-your-savings/) [Book a DemoSee the platform live and what it surfaces in your portfolio on day one.](https://www.novemdigital.com/get-a-demo/) [Talk to an ExpertHave a question first? Reach our team directly and we'll point you the right way.](mailto:connect@novemdigital.com) Prefer email? Write [connect@novemdigital.com](mailto:connect@novemdigital.com) and we'll get right back to you. Ready to see what surfaces in your portfolio? [Estimate Your Savings](https://www.novemdigital.com/estimate-your-savings/) [![Novem](https://www.novemdigital.com/hubfs/raw_assets/public/NovemZulbera_27/images/logo.png) NOVEM](https://www.novemdigital.com/) A property risk platform that makes building failure predictable for institutional real estate, protecting cash flow and capital. Headquartered in Vancouver, Canada. [connect@novemdigital.com](mailto:connect@novemdigital.com) [LinkedIn](https://www.linkedin.com/company/novem-digital/) Industries - [Commercial & Mixed Use](https://www.novemdigital.com/industries/#commercial) - [Seniors Living & Multi-Family](https://www.novemdigital.com/industries/#seniors) - [Data Centers](https://www.novemdigital.com/industries/#data-centers) - [Recreational & Venues](https://www.novemdigital.com/industries/#venues) Platform - [Platform](https://www.novemdigital.com/platform/) - [TCRO](https://www.novemdigital.com/tcro/) - [Partners](https://www.novemdigital.com/partners/) Resources - [Case Studies](https://www.novemdigital.com/resources/#case-studies) - [White Papers](https://www.novemdigital.com/resources/#white-papers) - [Blog](https://www.novemdigital.com/resources/#blog) About - [Company](https://www.novemdigital.com/about/) - [Careers](https://www.novemdigital.com/careers/) - [Estimate Your Savings](https://www.novemdigital.com/estimate-your-savings/) - Data Sources - 1 Novem / industry data - 2 [Aon Liquid Damage Report, 2024](https://www.aon.com/getmedia/6deff800-90ec-436c-9bcc-d1ac5c93e1d7/2024-Liquid-Damage-A-Significant-Cause-of-Property-Losses.pdf) - 3 Novem / industry data - 4 [ABB Value of Reliability Survey, 2023](https://www.canadianmanufacturing.com/manufacturing/abb-survey-reveals-unplanned-downtime-costs-295471/) © 2026 Novem PRP. All rights reserved. Failures are Predictable. [Made with ♥ by Zulbera](https://zulbera.com) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Novem", "url" : "https://www.novemdigital.com/insights/author/novem" }, "dateModified" : "2026-10-05T19:42:21.066Z", "datePublished" : "2026-04-28T16:00:00.000Z", "headline" : "Novem Joins SFU VentureLabs to Scale Its Property Risk Platform for Institutional Real Estate | Novem", "image" : [ "https://www.novemdigital.com/hubfs/novem-resources/pr-sfu-venturelabs.jpeg" ], "mainEntityOfPage" : { "@id" : "https://www.novemdigital.com/insights/sfu-venturelabs-acceleration", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://www.novemdigital.com/hubfs/Novem-Primary-Logo-Digital-FullColour-Large.png" } } } ```