Tiger Global invests in Facilio
Facilio, a company which makes facility management software, has raised $6.4 million (around Rs 45 crore at current exchange rates) in a Series A round of funding led by US-based investment firm Tiger Global.
The Atlanta and Chennai-based company said in a statement that existing investor Accel had also participated in the round.
Facilio said the fresh capital will help the company further consolidate and strengthen its presence across the Middle East, US, and Indian markets, as well as expand into new territories.
Founded last year by former Zoho employees Prabhu Ramachandran, Rajavel Subramanian, Yogendra Babu and Krishnamoorthi Rangasamy, Facilio offers real-time facilities management to commercial real estate owners.
The company uses IoT (internet of things) and artificial intelligence (AI) to “predictively optimise operations and sustainability.” It offers its products on a software-as-a-service (SaaS) basis.