Facilio gets $35 million in Series B funding | Mint
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Business News/ Companies / Start-ups/  Facilio gets $35 million in Series B funding
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Facilio gets $35 million in Series B funding

The company plans to use the money for product development, expanding its global footprint and ramping up its teams across sales, marketing and engineering in the US, UK, Europe, Middle East, and Australia

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BENGALURU : Property operations software platform Facilio on Tuesday said it has raised $35 million (around 262 crore) in a Series B funding round led by Dragoneer Investment Group, with participation from Brookfield Growth and existing investors Accel India and Tiger Global Management.

The company plans to use the money for product development, expanding its global footprint and ramping up its teams across sales, marketing and engineering in the US, UK, Europe, Middle East, and Australia.

Facilio also plans to expand its headcount from 125 to 200 by the end of the year, Prabhu Ramachandra, founder and chief executive officer (CEO) of the company, said in an interview.

The startup has so far raised $45.5 million.

Founded in 2017 by former Zoho employees Prabhu Ramachandran, Rajavel Subramanian, Yogendra Babu and Krishnamoorthi Rangasamy, Facilio claims to offer a unified software platform that leverages an artificial intelligence-led predictive engine to help real estate portfolios digitize processes and optimize their property operations.

The platform includes several SaaS apps for maintenance (CMMS/CaFM solutions), operational visibility, sustainability and remote monitoring of equipment performance. It competes with IBM, Oracle, SAP and Microsoft.

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ABOUT THE AUTHOR
Anuj Suvarna
Anuj Suvarna covers startups and venture capital. He writes about funding and acquisitions in VCCircle. When not writing about the Indian startup ecosystem, he likes to read non-fiction books, spend time with his pets (dad to 2 dogs and a cat) and go on treks. Previously, Anuj ran a restaurant consulting business and a bar in his hometown of Udupi.
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Published: 23 Feb 2022, 01:56 AM IST
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