The future of the construction and real estate industries will rely heavily on being able to use data-driven efficiencies to optimise their operations.
However, digital tools within the industry had been either limited in scope or inflexible. Virtually, no one had tried to empower truly integrated and real time systems. Here, Facilio has a vision: To introduce the same responsive service provision that users have become accustomed to in the B2C space from business models such as those of Uber and AirBnB. Essentially, the idea was to offer the industry a simple to use but powerful digital tool. And, data was the means to achieve this.
From the outset, Facilio’s vision was to achieve optimal outcomes for all stakeholders, from commercial real estate owners and facilities managers to building occupants. The industry’s assets was constantly generating huge amount of data but it was not being put to use. This is where the company wanted to cater to – be it delightful customer experiences, optimal energy efficiencies, and reduce cost of operations or unprecedented sustainability.
Facilio is one of the only IoT-driven data platforms for multi-site building operations and maintenance that harnesses IoT and AI to centrally consolidate existing building systems and automation data across an entire portfolio, onto the cloud. As Prabhu Ramachandran, CEO and Co-Founder, Facilio, says, “It offers applications and modules for property owners and service providers to manage and control portfolio-wide O&M activities and outcomes, such as maintenance, tenant experience and sustainability, in real-time.”
There is a huge scope for the deployment of technology driven models in the fabrication and maintenance of buildings. “Not only does such a digitally empowered model result in unprecedented efficiencies, it can redefine the cost versus revenue profile of current business models. Be it within the complex web of workforce teams and assets deployed in construction, or the many embedded automated systems in the average modern building, a lot of operational data being generated is currently lying unused,” says Ramachandran. He goes on to inform that Facilio’s technology agnostic platform is able to extract this dormant resource and create value for the business, by turning such data into actionable insights.“With the complete transparency of operations that the solution makes possible, the industry can finally make truly informed and data-derived decisions.”
Facilio
- Year of establishment:2017
- Funding: The company has raised two rounds of funding so far. Raised its seed funding from Accel Partner, and their Series A funding from Tiger Global and Accel
- Growth graph:Active across several markets including the US, India, Middle East, Brazil and Singapore. Expanded into the territories of Dubai and New York in 2019.
- Clientele: Wasl Properties and Al Fajer facilities managementin the Middle East. MoU with Digital X, a subsidiary of Dubai Electricity and Water Authority (DEWA), to deliver Smart Living as a Service (SLaaS), as part of the ambitious Dubai 10X initiative.
