Facilio bags $35 mn in funding round led by Dragoneer Investment

23 Feb 2022 CW Team

Facilio, a Software as a service (SaaS)-based property app that claims to enhance operational efficiency, has bagged $35 million in a funding round conducted by Dragoneer Investment Group.

Brookfield Growth and existing investors Accel India and Tiger Global Management additionally took part in the Series-B funding round. The startup told the media it would use the money to expand its team, deepen penetration and intensify research and development (R&D) initiatives.

It leverages an AI-led predictive engine to assist real estate portfolios to digitise processes and optimise their property operations by aggregating data from multiple, disconnected systems across portfolios into an integrated, cloud-based platform, assisting operations and maintenance teams to become data-driven and agile.

The platform provides a suite of SaaS (software as a service) applications for maintenance and operational visibility, sustainability, and remote equipment performance monitoring. Prabhu Ramachandran, co-founder and chief executive told the media that this investment would allow them to extend market leadership, boost sales and marketing. Presently, Facilio is solving operational problems for over 10,000 properties, more than 100 million sq ft across 12 nations.

Its increasing list of portfolio-scale deployments comprises more than 40 large enterprise customers across the commercial office, healthcare, retail, banking, and government real estate types. Facilio has unlocked a world of potential with its Artificial Intelligence-based predictive approach to improving operational effectiveness, Eric Jones, a partner at Dragoneer told the media.

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Also read: Arrivae raises Rs 50 cr in Series-B funding round led by Havells Group

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