NEW YORK, Feb. 22, 2022 /PRNewswire/ -- Facilio, the
property operations software platform leader, today 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.
Facilio today announced it has raised $35
million in Series B financing
Founded 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. 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 elevate customer experiences.
"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."
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.
Facilio's growing list of portfolio-scale deployments includes
commercial office buildings, retail chains, hospital systems, and
higher-education campuses.
"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 revolutionizing operations for real estate
portfolios and we are proud to support this customer-obsessed
team."
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.
"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."
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.
For more information on Facilio and data-led property
operations, please visit facilio.com/
About Dragoneer Investment Group
Dragoneer is a
growth-oriented investment firm with over $25 billion in long-duration capital. Dragoneer
has a history of partnering with management teams growing
exceptional companies characterized by sustainable differentiation
and superior economic models. The firm's track record includes
public and private investments across industries and geographies,
with a particular focus on technology-enabled businesses. Dragoneer
has been an investor in companies such as Airbnb, Alibaba,
Atlassian, AppFolio, Bytedance, Ceridian, Chime, Datadog, Doordash,
Duck Creek, Innovaccer, PointClickCare, Procore, Slack, Samsara,
ServiceTitan, Snowflake, Spotify, Uber, UiPath, Urban Company,
Zomato, and others.
About Brookfield Asset Management
Brookfield (NYSE: BAM, TSX: BAM.A) is a
leading global alternative asset manager with approximately
US$690 billion of assets under
management across real estate, infrastructure, renewable power and
transition, private equity, and credit. Brookfield owns and operates long-life assets
and businesses, many of which form the backbone of the global
economy. Utilizing its global reach, access to large-scale capital,
and operational expertise, Brookfield offers a range of alternative
investment products to investors around the world—including public
and private pension plans, endowments and foundations, sovereign
wealth funds, financial institutions, insurance companies, and
private wealth investors.
Brookfield Growth is the technology investment arm of
Brookfield. Founded in 2017,
Brookfield Growth seeks to partner and invest growth equity into
market-leading technology companies that can leverage the diverse
real assets and operating businesses that make up the $690 billion Brookfield economy.
For more information, please visit
brookfield.com/brookfield-growth
About Facilio
Facilio's AI-driven property operations
platform allows real estate owners to aggregate building data,
optimize performance, and control portfolio operations - all from
one place. Customers in the commercial office, healthcare, retail,
education, and other real estate categories across the world use
Facilio to reduce operations costs, increase net asset value, and
de-risk operational liability. Headquartered in New York
City with offices in Dubai, Chennai, Singapore, and Sydney, Facilio is a global company backed by
leading investors including Accel India, Tiger Global Management,
Dragoneer Investment Group, and Brookfield Growth.
Media Contact
Mukil Ganesan
press@facilio.com
North America:
Kristen Hoff
kristenehoff@gmail.com
MENA:
Neha Kaul
neha@yourwordsmiths.com
APAC:
Sneha Gupta
sneha.gupta@2020msl.com
View original
content:https://www.prnewswire.com/news-releases/facilio-raises-35m-series-b-from-dragoneer--brookfield-to-transform-real-estate-operations-with-ai-301487037.html
SOURCE Facilio