Chennai Based Facilio Raises USD 35 Million in Series B Capital from Dragoneer and Brookfield to Transform Real Estate Operations Through Artificial Intelligence

Facilio secured USD 35 million in Series B funding headed by Dragoneer Investment Group and included Brookfield Growth, Accel India, and Tiger Global Management.

Facilio, founded in2017, provides a unified software platform powered by an AI-driven prediction engine that assists real estate portfolios in digitising procedures and optimising property operations. The solution consolidates data from disparate, unconnected systems across portfolios into a single, cloud-based platform, empowering operations and maintenance [O&M] teams to become more data-driven and nimble.

The platform consists of a collection of SaaS apps for maintenance [CMMS/CaFM solutions], operational visibility, sustainability, and remote equipment performance monitoring. This forward-thinking strategy enables businesses to cut operational costs, outperform environmental objectives, and enhance customer experiences.

As per Prabhu Ramachandran, founder and CEO of Facilio their clients recognise that success in a post-pandemic environment requires efficiency improvements and seamless customer experiences and Facilio is well positioned to drive digital transformation in the built environment and to lead the industry's transition to linked buildings powered by Internet Of Things.

He also opined that this investment will help Facilio to increase their market leadership, strengthen their sales and marketing efforts, and empower more businesses to succeed by implementing a predictive, linked model of real estate management.

Facilio has established itself as a market leader in the USD 50 billion commercial real estate operations software sector.

Eric Jones, partner at Dragoneer Investment Group stated that with its AI-based predictive approach to operational efficiency, Facilio had opened a world of opportunity. Also Josh Raffaelli, managing partner of Brookfield added that they have been consumers of Facilio for years, and that it was amazing to be a part of their progress currently.

Facilio has been defining and growing the category for four years, founded by Prabhu Ramachandran, Rajavel Subramanian, Krishnamoorthi Rangasamy, and Yogendra Babu. Facilio aspires to construct the operations management cloud platform that unifies field worker workflows and infrastructure IoT data in a single location, similar to how Salesforce is to customer management and ServiceNow is to IT services management in today's business software categories.