Infraspeak, a facilities management startup based in Porto, raised $11 million (€10 million) in Series A funding to consolidate its leadership position in the European maintenance and facility management industry.
The funding round was co-led by Indico Capital and Knight Capital, with participation from existing investors Innovation Nest and Caixa Capital. The round brings the total funding raised by the startup to over $16 million, which will allow Infraspeak to expand its presence in the European market by adding new customers to a list that already includes major organizations like Siemens, Mitsubishi Electric, Ale-hop, Engie, Penguin FM, IHG Hotels, and Hilton Hotels.
Arthur Nobel, Principal at Knight Capital, referred to the firms participation in the round by stating:
“The facility management industry is a large yet underexplored market by technology startups. Infraspeak, as the leading European innovator, has managed to build an operating system that enables the facility management industry to act on its digital transformation objectives, ESG goals and digitize the frontline workforce. We are fortunate to back Felipe and Luis, and believe in a future where the facility management ecosystem collaborates on Infraspeak.”
Infraspeak was founded in 2015 by Felipe Ávila da Costa (CEO) and Luís Martins (CTO) with the mission to bring maintenance and facility management operations together in a simple, flexible, and powerful manner. For this purpose, the startup has developed an intelligent maintenance and facilities management platform. Ávila da Costa said about this mission:
“The future of Facilities Management software is around flexibility, intelligence and integration. Flexibility to allow each team to adapt their software to any kind of operations; Intelligence to proactively transform the thousands of data points collected daily into actionable insights for staff and management; and Integration to allow the plethora of people, processes, IoT and software to intercommunicate efficiently with each other. Infraspeak is now the only platform to consolidate all operational tools and workflows in a single solution, and we are only getting started.”
According to a report by Markets and Markets, the facility management market is expected to be worth over $76 billion by 2026, with large enterprises being expected to hold a larger market size as years go by. By offering an integrated platform and expanding its leadership in Europe, Infraspeak could become a major player in the industry at a global scale while also being a major driver for the growth of the industry.
