Facilio, the property operations software platform leader, said 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.

 

Dragoneer is a growth-oriented investment firm with over $25 billion in long-duration capital, while Brookfield is a leading global alternative asset manager with $690 billion of assets under management across real estate, infrastructure, renewable power and transition, private equity and credit. 

 

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.

 

On the new funding, Founder & CEO Prabhu Ramachandran, said: "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," he added.

 

According to him, Facilio has emerged as a next-generation leader in the $50 billion commercial real estate-focused operations software market. 

 

Ramachandran pointed out that it has established a broad, global customer base and is rapidly gaining 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, he stated.

 

Eric Jones, Partner at Dragoneer Investment Group, said: "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," he noted.

 

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 organizations dealing with outdated solutions from incumbent vendors are turning to Facilio, he added.

 

Josh Raffaelli, Managing Partner at Brookfield, said: "We have been customers of Facilio and now it's incredible to be a partner in their journey."

 

The company, which was founded by Ramachandran four years ago along with Rajavel Subramanian, Krishnamoorthi Rangasamy and Yogendra Babu, has been defining and building the category growth.

 

"What Ramachandran 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 added.-TradeArabia News Service