Facilio raises USD 35m for real estate AI initiative
DUBAI, UAE; NEW YORK CITY, USA, 22 February 2022: Property operations software platform company, Facilio said it has raised USD 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.
“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 claimed it has emerged as a next-generation leader in the USD 50 billion commercial real estate-focused operations software market.
It said it has established a broad, global customer base and is rapidly gaining share with faster-than-market-sales growth across multiple geographies.
The company said its growing list of portfolio-scale deployments include commercial office buildings, retail chains, hospital systems and higher-education campuses.
Eric Jones, Partner, 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.”
Facilio said it excels in guiding real estate portfolios through their digital transformation journey with its advanced IoT-native and mobile-first product offerings. As a result, it said, many leading organisations dealing with outdated solutions from incumbent vendors are turning to it for digital support.
Josh Raffaelli, Managing Partner, Brookfield, said: “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.”