While it may not be a very sexy topic, facility management is at the heart of any business with a physical facility, and the larger the footprint, the more complex it becomes to manage.
Portuguese startup Infraspeak has sought to address this issue with an all-in-one platform that provides facility managers and related service providers with insight and operational control into everything going on in a particular location.
Founded in 2015, Infraspeak has raised around $20 million in funding and secured major clients including KFC, InterContinental and Primark. And to fuel its next phase of growth, the Porto-based startup announced Monday that it has raised an additional 18 million euros ($19.5 million) in Series B funding.
Many moving parts
Infraspeak Founders Felipe Ávila da Costa (CEO) and Luís Martins (CTO) Image credit: Infraspeak
Consider a healthcare company with countless departments, equipment, and contractors across various areas such as maintenance and cleaning. Many things need to be coordinated and managed.
“Managing all these moving parts is difficult and the stakes are very high,” Infraspeak co-founder and CEO Felipe Ávila da Costa told TechCrunch. Ta. “They are [facility managers] Everything from preventive maintenance schedules to work orders, cleaning operations, contractor communications, air quality management, service level agreements, room preparation, and performance reporting must be tracked while ensuring compliance with health and safety standards. . ”
Of course, businesses have been managing all of this for a long time in the digital age, but doing so still required extensive manual processes and disparate systems prone to human error. Even more recently, companies have been able to combine spreadsheets with disparate software designed for specific tasks.
This is the core of what Infraspeak is building. In other words, it's a centralized conduit that connects the dots between systems and processes, allowing all parties to collaborate in one place.
This is made possible by a shared workspace called Infraspeak Network. In addition to allowing facility managers to manage internal work such as building operations and connecting teams, this workspace also links directly to external service providers, allowing managers to request quotes from suppliers, engage suppliers, and more. assign work orders and track progress. Meanwhile, service providers can use Infraspeak to send quotes, communicate with clients, share operational data, and more.
“As a collaborative facilities management platform, Infraspeak enables facilities teams to collaboratively manage their entire operations. It allows facilities managers, staff, and contractors to collaborate in a shared digital workspace. ,” da Costa said. “Whether it's sharing real-time data, managing work orders, or tracking job execution, all parties are connected, reducing miscommunication and bottlenecks.”
Infraspeak.
With the rise of remote work, it's easy to surmise that the demand for technology that helps manage commercial buildings may not be as high as it used to be. Even ignoring the fact that many companies are asking employees to return to their desks in the office, there are other facilities that need to be managed besides office buildings, from shopping malls and hospitals to airports and factories. The truth is that there are an infinite number of them.
“The remote work trend has not had a significant impact on our business,” da Costa said. “If anything, remote work has made cloud-based facility management software more essential. It allows operations managers to control multiple facilities without being constantly on site. ” And the importance of this type of software becomes even clearer when you consider one of the main factors that drove the remote work trend in the first place: the pandemic. Because this type of software allows you to manage building occupancy and enforce health and safety protocols. Adjust your cleaning schedule based on space usage. ”
complexity
Infraspeak competes with other startups such as MaintainX, Upkeep, and Facilio. All of these companies have raised significant venture capital in recent years, demonstrating the growing demand for better facilities management tools. Da Costa also pointed to a number of factors that may be driving this demand, including the increasing complexity of building management as more devices and data enter buildings than ever before. The factors were also pointed out.
In parallel, companies are under pressure to optimize their operations to meet stringent sustainability and ESG targets.
“Overall, buildings now tend to have more sophisticated systems, stricter regulations, larger supplier networks, increased sustainability concerns, and pressures for cost efficiency and transparency for building users. Yes,” da Costa said.
Infraspeak has around 182 employees (or “infraspeakers” as the company calls them…) in offices in Porto, London, Barcelona and Florianópolis, with some staff based in South America and Europe. Based remotely in other locations. The company has $19.5 million in new cash in the bank and plans to add an additional 100 people in 2025, including executive roles such as chief revenue officer.
For now, Infraspeak's core remains Europe, but the startup is also expanding into South America and Africa. Although the company does not officially operate in the US market, it claims to have a “small number” of customers in the US, which could be the origin of its later expansion, for which it will raise further funds. you may need to.
“The plan is to raise the Series C by 2025, and the plan will definitely be to enter and conquer the U.S. market by then,” da Costa said.
Infraspeak's Series B round was led by Endeit Capital, with participation from Bright Pixel Capital, Caixa Capital, Innovation Nest, and Indico Capital Partners.