NY Proptech Facilio Raises $35 Million in Series B Round, Funding Led by Dragoneer Investment Group

As part of its efforts to bring artificial intelligence, AI, to property management of commercial assets, New York proptech Facilio has raised $35 million in a series B equity round. Facilio offers a suite of Software-as-a-Service (SaaS) applications for management, property visibility, sustainability and remote equipment performance monitoring using artificial intelligence engines. Pre-pandemic, over 95% of property management companies had someone tasked with modernizing their property technology systems according to a 2019 KPMG study. The pandemic has only accelerated this need.

“Our customers understand that success in a post-pandemic world will be achieved by driving efficiency gains and delivering smooth customer experiences,” said Prabhu Ramachandran, Founder & CEO, Facilio. “We are uniquely positioned to accelerate digital transformation in the built world and lead the industry’s transition towards IoT-led connected buildings. This investment will allow us to extend our market leadership, expand sales and marketing, and enable more companies to reach success through a predictive, connected model of real estate operations.”

Dragoneer Investment Group led the funding round, with participation by Brookfield Growth and previous investors Accel India and Tiger Management.