Prabhu Ramachandran’s career trajectory at Zoho Corporation led him to a critical realisation: the real estate sector was ripe for technological transformation. Having spent over a decade building enterprise-grade data, cloud, remote monitoring, and analytics products, Ramachandran saw a significant gap in how modern technology was applied post-construction in real estate.
“Real estate is one of the largest asset classes, yet it has minimal penetration of modern technology,” Ramachandran noted. “Most technology in real estate focuses on construction, and post-construction processes are largely manual. Our vision was to bring a modern tech stack to real estate operations and maintenance, a natural extension of my experience at Zoho.”
Building Facilio
In 2017, Ramachandran, alongside Raj Subramanian, Krishnamoorthy, and Yogendra Babu, founded Facilio, a startup dedicated to enhancing real estate operational efficiency through cloud, mobility, and IoT. The four founders, who had previously worked together at Zoho, envisioned a solution seamlessly integrated with existing building systems.
Facilio is a leading IoT and cloud-based solutions provider for real estate operations and maintenance. The company offers a comprehensive suite of products designed to enhance the efficiency and effectiveness of building management.
Focusing on commercial real estate, Facilio serves clients in various sectors, including offices, retail, healthcare, and education. The company’s innovative solutions are trusted by some of the largest property owners and operators globally.
“We were driven by the desire to revolutionise real estate management,” Ramachandran shared. “The existing systems were fragmented and inefficient. We saw an opportunity to create a unified platform to address these challenges holistically.”
The product workings
Facilio operates as a SaaS product, connecting with a building’s existing automation systems and sensors without additional hardware. The IoT software gathers data, predicts failures, and manages operations remotely, enabling predictive maintenance and streamlined building management.
“Our software can automatically raise a ticket and assign it to the appropriate personnel, who will have all the information they need to address the issue promptly,” Ramachandran explained. “This reduces downtime and improves the overall efficiency of building operations. Our approach gives building owners and operators complete visibility and control over their assets.”
Facilio targets the commercial real estate, including offices, retail, hospitals, healthcare, and education. The platform’s comprehensive suite of products covers workforce management, asset management, sustainability management, and remote monitoring.
“Our vision is to offer a modern platform for building operation,” Ramachandran added. “We aim to transform how buildings are managed and operated, making them more efficient, sustainable, and responsive to occupants’ needs. By leveraging IoT and cloud technologies, we can significantly reduce manual interventions and enhance operational efficiency.”
Funding and business model
Facilio’s growth trajectory has been supported by significant investments. Initial seed funding from Accel partners enabled product development and market validation. Subsequent Series A, funding from Tiger Global facilitated scaling operations and expanding the customer base. In 2022, Series B funding from Dragoneer, an investor with a portfolio including Uber and Airbnb, provided further momentum.
“Securing funding from renowned investors like Dragoneer was a game-changer for us,” Ramachandran said. “It validated our vision and gave us the resources to scale our operations and accelerate growth.”
The Middle East, particularly the UAE, was a strategic choice for expansion. “We chose the Middle East for several strategic reasons,” said Ramachandran.
“The UAE, particularly Dubai and Abu Dhabi, has a dense concentration of high-rise buildings within a relatively small geographic area, making it ideal for our operations. Additionally, the region’s openness to new technologies and innovation aligns perfectly with our product offering.”
The UAE’s favourable business conditions, including easy visa processes and a competitive cost structure, further reinforced this decision. Facilio has since expanded to the US, UK, and Australia. Still, the Middle East remains a critical market due to ongoing real estate development and strong demand for advanced technology solutions.
The Middle East focus
“The Middle East is not only a rapidly growing market but also a region that embraces technological advancements,” Ramachandran emphasised. “We are well-positioned to meet the needs of this dynamic market, and our solutions are tailored to address the unique challenges faced by property owners and operators here.”
Facilio’s customer base includes large regional conglomerates, though specific names remain confidential. The company’s SaaS model, with pricing based on building number, size, and users, offers flexibility and value. Customers typically engage in three-to four-year contracts, paying upfront annually.
“Our revenue model is designed to provide maximum value and flexibility to our customers,” Ramachandran explained. “We understand the diverse needs of our clients and offer scalable solutions that can grow with their operations.”
“In the past couple of years, we have been doubling our revenue in the Middle East,” Ramachandran said. “Our success is due to our focus on delivering high-quality solutions that meet the specific needs of our customers.”
Facilio plans to expand its customer base in the UAE and Saudi Arabia, enter new regions such as Kuwait, and explore global opportunities. “We see immense potential in the Middle East,” Ramachandran concluded.
“The region’s ambitious architectural projects and innovative approaches to real estate development make it an exciting market for us. Our solutions can significantly support these efforts by providing the technology to manage and operate buildings more efficiently.”
As Facilio continues its journey, the team remains committed to transforming real estate operations with cutting-edge technology, ensuring buildings are managed more efficiently and sustainably, and responding effectively to occupants’ needs.
“We are excited about the future and the role we can play in shaping the real estate industry,” Ramachandran said. “Our mission is to continue innovating and providing solutions that make a real difference for our customers.”
