Facilio, the property operations software platform leader, announced 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.
Founded in 2017, Facilio offers a unified software platform that leverages an artificial intelligence-led predictive engine to help real estate portfolios digitise processes and optimise their property 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 and maintenance teams become data-driven and agile.
The platform encompasses a suite of SaaS applications for maintenance 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.
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.
Facilio’s growing list of portfolio-scale deployments includes commercial office buildings, retail chains, hospital systems, and higher-education campuses. Facilio excels in guiding real estate portfolios through their digital transformation journey with its advanced IoT-native and mobile-first product offerings. As a result many leading organisations dealing with outdated solutions from incumbent vendors are turning to Facilio.
“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 and 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.”
“Facilio has unlocked a world of potential with its artificial intelligence-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.”