Facilio, a leading property operations software platform player, announced on Tuesday 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.
“This investment will allow us to extend our market leadership, expand sales and marketing, and allow more companies to reach success through predictive, connected models of real operations. estate, ”said Prabhu Ramachandran, Founder and chief executive officer, Facilio.
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. The solution aggregates data from multiple, disconnected systems into portfolios into an integrated, cloud-based platform, helping with operations and maintenance [O&M] teams become data-driven and agile. The platform covers a range of SaaS applications for maintenance and operational visibility, sustainability, and remote monitoring of equipment performance. Currently, Facilio is solving, operational problems for more than 10,000 properties, more than 100 million square feet in 12 countries.
“We are uniquely positioned to accelerate digital change in the developed world and lead the industry’s transition towards IoT -connected buildings,” he said. With a $ 50 billion commercial real estate-focused operations software market, Facilio has established a broad, global customer base and is quickly gaining a share in faster sales growth than the market in many geographies. The company’s portfolio-scale deployment includes more than 40 larger enterprise customers across the commercial office, healthcare, retail, banking, and government real estate categories.
“Facilio has unlocked a world of potential using its AI-based predictive approach to increase operational effectiveness,” 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. “
Facilio looks to guide real estate portfolios through their journey into digital transformation using advanced IoT-native and mobile-first product offerings. “We have become Facilio’s customers and are now incredible to be partners on their journey,” 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.