Software-as-a-service (SaaS)-enabled property tech startup Facilio is looking to increase its workforce by around 100 employees across teams and bets big on the energy-saving segment in real estate operations and management.
“We now have a workforce of around 200 employees and we will mostly add close to 100 employees across sales, marketing, and engineering teams at Facilio…our energy saving segment is gaining more traction today,” said Prabhu Ramachandran, CEO & cofounder at Facilio.
Facilio helps real estate and property owners monitor energy consumption and costs using its home-grown technology, which in turn helps enterprises save costs.
“We built a product for monitoring energy consumption and we are now in the right time where there is a huge push for sustainability,” Ramachandran said.
He said that for most businesses energy cost is among the top three expenditures incurred in a year and the firm has helped save around 15-20 percent of that cost every year.
“The way we work is that we connect all the elevator systems and other major consumers of energy in a property, we also integrate with weather stations and run algorithms to optimise the running of ACs and save energy 24X7 without any manual intervention,” Ramachandran explained.
On Monday, Facilio announced the opening of a new 40,000 sq ft space in Chennai, Tamil Nadu developed by Indiqube. The new office has a fully automated facility management system in place.
The proptech platform currently has a distributed workforce of 200 employees with offices in New York, London, Australia, Dubai & Singapore apart from Chennai. The company’s new HQ features a 2,000-sq ft cafeteria.
Founded in 2017 by former Zoho employees Ramachandran, Rajavel Subramanian, Yogendra Babu, and Krishnamoorthi Rangasamy, Facilio’s suite of products allows real estate owners to aggregate building data, optimize performance, and control portfolio operations - all from one place. The company remotely deploys the property operations software platform in large real estate enterprises across the globe.
Headquartered in New York City with offices in Dubai, Chennai, Singapore, and Sydney, Facilio is backed by leading investors including Accel India, Tiger Global Management, Dragoneer Investment Group, and Brookfield Growth.
The firm in February 2022 raised around $35 million (around Rs 260 crore) in a funding round led by Dragoneer Investment Group.
Facilio has customers across the US, Europe, Australia, the Middle East, India, and Singapore and will continue to focus on these markets for the next year. The firm’s demand-driving segments include office buildings like Manyata Tech Park, supermarket chains, malls, hospitals, and educational buildings.
“We grew by 2X compared to last year to now, we do expect some slowness in the economy however we will still be able to clock another 2X of revenue for next financial year as well,” Ramachandran said.
The firm is presently focussing on research and development and attaining market leadership in the proptech segment.
“We currently manage 10,000+ buildings spread across commercial offices, healthcare, hospitality & retail across the globe. We are aiming to double this by the end of 2023 and tap into the $30 billion real estate-focused operations software market,” Ramachandran said.
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