Property operations software start-up Facilio, based in New York and Chennai, has raised $35 million in Series B funding, 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 digitise processes and optimise their property operations.
The start-up did not disclose at what valuation the funding was raised. According to reports, with the latest round, the startup has so far raised $45.5 million in funding.
The platform provides a suite of SaaS applications for maintenance and operational visibility, sustainability, and remote equipment performance monitoring. This modern appro-ach allows customers to reduce operating costs, exceed sustainability targets, and elevates customer experiences.
Prabhu Ramachandran, founder & CEO, Facilio, said: “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. Currently, Facilio is solving operational problems for over 10,000 properties, over 100 million sq feet across 12 countries. Its growing list of portfolio-scale deployments includes over 40 larger enterprise customers across the commercial office, healthcare, retail, banking, and government real estate categories.
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. The company is on its way to revolutionising 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 As a result, many leading organisations dealing with outdated solutions from incumbent vendors are turning to Facilio.
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. 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.”
Facilio’s AI-driven property operations platform allows real estate owners to aggregate building data, optimise 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.
