- Facilio recently announced it raised $35 million in Series B funding. These are the details.
Facilio, a property operations software platform leader, recently announced it has raised $35 million in Series B led by Dragoneer Investment Group with participation from Brookfield Growth and existing investors Accel India, and Tiger Global Management.
Launched in 2017, Facilio offers a unified software platform that leverages an AI-led predictive engine to help real estate portfolios digitize processes and optimize their property operations. And replacing the traditional and siloed software landscape that has frustrated the market for decades.
This 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. And 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 enables customers to reduce operating costs, exceed sustainability targets, and elevates customer experiences.
Facilio emerged as a next-generation leader in the $50 billion commercial real estate-focused operations software market. Currently Facilio is solving operational problems for over 10,000 properties, over 100 million sq. feet across 12 countries. And 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.
Founded 4 years ago by Prabhu Ramachandran, Rajavel Subramanian, Krishnamoorthi Rangasamy, and Yogendra Babu, Facilio has been defining and building the category growth. And 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.
KEY QUOTES:
“Our customers understand that success in a post-pandemic world will be achieved by driving efficiency gains and delivering smooth customer experiences. 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.”
— Prabhu Ramachandran, Founder & CEO, Facilio
”Facilio has unlocked a world of potential with its AI-based predictive approach to increase operational effectiveness. 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 revolutionizing operations for real estate portfolios and we are proud to support this customer-obsessed team.”
— Eric Jones, Partner at Dragoneer Investment Group
“We have been customers of Facilio and now it’s incredible to be a partner in their journey. 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.”
— Josh Raffaelli, Managing Partner at Brookfield
