Facilio raises $35m in Series B financing
Investment led by Dragoneer Investment Group, with participation from Brookfield Growth, Accel India and Tiger Global Management
Facilio, the property operations software platform provider, has announced that it has raised $35 million in Series B financing, led by Dragoneer Investment Group with participation from Brookfield Growth and existing investors Accel India and Tiger Global Management.
Facilio has emerged as a next-generation leader in the $50 billion commercial real estate-focused operations software market. It has established a broad, global customer base and is rapidly gaining share with faster-than-market sales growth across multiple geographies, a statement said.
Facilio’s growing list of portfolio-scale deployments includes commercial office buildings, retail chains, hospital systems, and higher-education campuses, it added. Founded in 2017, the company provides a unified software platform that leverages an AI-led predictive engine to help real estate portfolios digitise processes and optimise their property operations.
“Our customers understand that success in a post-pandemic world will be achieved by driving efficiency gains and delivering smooth customer experiences,” said Prabhu Ramachandran, Founder & CEO, Facilio.
“We are uniquely positioned to accelerate digital transformation in the built world and lead the industry’s transition towards IoT-led 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 estate operations.”
Replacing the traditional and siloed software landscape that has frustrated the market for decades, the solution aggregates data from multiple, disconnected systems across portfolios into an integrated, cloud-based platform, helping operations & maintenance [O&M] teams become data-driven and agile.
The platform encompasses a suite of SaaS applications for maintenance [CMMS/CaFM solutions] and operational visibility, sustainability, and remote equipment performance monitoring. This modern approach allows customers to reduce operating costs, exceed sustainability targets, and elevates customer experiences, the company said.
“Facilio has unlocked a world of potential with its AI-based predictive approach to increase operational effectiveness,” said Eric Jones, Partner at Dragoneer Investment Group. “We were blown away by the customer love that Facilio receives from their diverse roster of global clients. The company is on its way to revolutionising operations for real estate portfolios and we are proud to support this customer-obsessed team.”
We have been customers of Facilio and now it’s incredible to be a partner in their journey,” said Josh Raffaelli, Managing Partner at Brookfield. “What Prabhu and the team are building isn’t merely a great product portfolio but a movement towards data-led property operations. The company is writing the blueprint for how modern real estate portfolios will operate in the next decade and beyond,” he concluded.
