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.
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