New York, USA 22nd February 2022
Facilio, the property operations software platform leader,
today announced it has raised $35 million inSeries 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 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
https://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
https://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.
