Facilio, the property operations software platform, 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.
Founded in 2017 by Prabhu Ramachandran, Rajavel Subramanian, Krishnamoorthi Rangasamy, and Yogendra Babu, 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.
“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 of 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,” he explained.
The funding will be used to strengthen the existing team in the UAE, to fuel expansion into more countries in the Middle East and to scale R&D teams with the purpose of launching more products.
The start-up’s 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 revolutionising operations for real estate portfolios and we are proud to support this customer-obsessed team,” he added.
Facilio aims to build an operations management cloud platform unifying field workforce processes and infrastructure IoT data, in one place.
“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,” he continued.
