SYDNEY-(WIRE OF BUSINESS)-Facilio, the property operations software platform leader, announced today that it has raised $ 35 million in Series B led by Dragoneer Investment Group with participation from Brookfield Growth and current investors Accel India and Tiger Global Management.
Founded in 2017, Facilio offers a unified software platform that uses an AI-led predictive engine to help real estate portfolios digitize processes and optimize their property operations. money. Replacing the traditional and siled software landscape that has failed the market for decades. The solution aggregates data from multiple, disconnected systems across portfolios into an integrated, cloud-based platform, helping with operations and maintenance [O&M] teams become data-driven and agile. The platform covers a suite of SaaS applications for maintenance [CMMS/CaFM solutions] and operational visibility, sustainability, and performance monitoring of remote equipment. This innovative approach enables customers to reduce operational costs, exceed maintenance targets, and increase customer experiences.
“Our customers understand that success in a post-pandemic world can be achieved by driving efficiency gains and delivering seamless customer experiences,” he said. Prabhu Ramachandran, Founder and CEO, Facilio. “We are uniquely positioned to accelerate digital change in the developed world and lead the industry’s transition to IoT -connected buildings. This investment will allow us to extend our market leadership, expand sales and marketing, and enable more companies to reach success through a predictive, connected model of real operations. estate.
Facilio has emerged as the next-generation leader in the $ 50 billion commercial real estate-focused operations software market. Currently, Facilio is solving, operational problems for the 10k+ property, over 100 million sq. M. feet in 12 countries. The company’s growing list of portfolio-scale deployments includes 40+ larger enterprise customers across the commercial office, healthcare, retail, banking, and government real estate categories.
“Facilio has unlocked a world of potential through an AI-based predictive approach to increase operational effectiveness,” he said Eric Jones, Partner at Dragoneer Investment Group. “We are amazed at the customer love that Facilio receives from their diverse list of global clients. The company is well on its way to changing operations for real estate portfolios and we are proud to support this customer-obsessed team. ”
“We have become customers of Facilio and are now incredible to be a partner in their journey,” he said. Josh Raffaelli, Managing Partner at Brookfield. “What Prabhu and the team are building is not just a great product portfolio but a movement towards data-driven property operations. The company is writing the blueprint for how modern real estate portfolios will work over the next decade and beyond. ”
Founded four years ago by Prabhu Ramachandran, Rajavel Subramanian, Krishnamoorthi Rangasamy, and Yogendra Babu, Facilio defined and developed the growth category. Similar to how Salesforce in customer management and ServiceNow in managing IT services in today’s enterprise software categories, Facilio aims to build a cloud operational management platform that unifies field processes workforce and IoT data infrastructure, in one place.