The global proptech startup Facilio has secured $35 million in its Series B round led by Dragoneer Investment Group. Brookfield Growth and existing investors Accel India and Tiger Global Management also participated in the funding.
Founded in 2017, Facilio offers a unified software platform that leverages an AI-led predictive engine allowing real estate owners to aggregate building data, optimize performance, and control portfolio operations.
Headquartered in New York City with offices in Dubai, Chennai, Singapore, and Sydney, Facilio helps its customers from all categories and industries worldwide reduce operations costs and increase net asset value, along with de-risk operational liability.
The platform encompasses a suite of SaaS applications for maintenance and operational visibility, sustainability, and remote equipment performance monitoring.
The funding will allow Facilio to extend its market leadership, expand sales and marketing, and enable more companies to succeed through a predictive, connected model of real estate 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.”
The startup 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 rapidly gained share with faster-than-market sales growth across multiple geographies.
Facilio’s growing list of portfolio-scale deployments includes commercial office buildings, retail chains, hospital systems, and higher-education campuses.
Founded four years ago by Prabhu Ramachandran, Rajavel Subramanian, Krishnamoorthi Rangasamy, and Yogendra Babu, Facilio has been defining and building the category growth. Similar to how Salesforce is to customer management and ServiceNow is to IT services management in today’s enterprise software categories, Facilio aims to build the operations management cloud platform unifying field workforce processes and infrastructure IoT data in one place.