Property operations software platform Facilio on Tuesday said it has secured Series B funding of $35 million (around Rs 262 crore) in a round led by Dragoneer Investment Group, along with participation from Brookfield Growth and existing investors Accel India and Tiger Global Management.
The company plans to use the fundraise 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 eyes to expand its staffers from 125 to 200 by the end of the year, Prabhu Ramachandra, Founder and Chief Executive Officer (CEO) of the company, said in an interaction with VCCircle.
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.
In 2018, Facilio raised $6.4 million (around Rs 45 crore at current exchange rates) Tiger Global-led round. Prior to that, the company had secured seed cheque of $1 million from Accel.
Dragoneer is a long-term investment firm with approximately $25 billion in assets under management. The firm's track record includes public and private investments in different industries and geographies, with a emphasis on technology-enabled firms. It had invested in 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.
