Facilio raises $35M Series B from Dragoneer & Brookfield to Transform Real Estate Operations with AI
NEW YORK, Feb. 22, 2022 /PRNewswire/ — Facilio, the property operations software platform leader, today announced it 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, 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 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 brookfield.com/brookfield-growth
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.