As facilities are increasingly more complex, clients are becoming more demanding and cost-controlling, and regulations add more pressure to operational teams, it is crucial to bring intelligence and agility to a sector that still relies on outdated solutions.
In order to tackle this, Infraspeak, a leading European and South American Intelligent Maintenance Management Platform (IMMP), headquartered in Portugal, has secured a Series A extension round of €7.5 million, led by Bright Pixel (former Sonae IM), capital risk investment arm of Sonae group.
The round comes eighteen months after a €10 million funding round, and also included current investors Caixa Capital and 500 Global. In total, Infraspeak raised €17.5 million in its Series A round.
Infraspeak’s platform provides centralised, tailored maintenance management for companies of all sizes, allowing teams to seamlessly connect their assets, IoT devices, hardware and software, and transform data into real actions, instantly. Offering more than 20 million automations, it can save the average facilities manager up to 7 hours a week in admin work.
Leonor de L’Hermite, Operating Partner at Bright Pixel, said that “from the very beginning, Infraspeak has shown an ability to capitalise on opportunities within a market brimming with immense potential. We are excited to support such a strong player in the IMMP space, namely through an ambitious international growth plan backed by a committed and experienced team”.
This funding will allow the company to keep building the team to fuel its global expansion and keep actively recruiting top talent that is aligned with the company’s vision. The next steps in their expansion strategy will see Infraspeak reinforce its position as a leader in Europe by developing its operations in France and Denmark, and pacing up growth in LatAm.
Felipe Ávila da Costa, co-founder and CEO of Infraspeak, explained: “We’re witnessing steady growth across our company and have successfully reinforced our position as category winners. We planned to fundraise a series B by mid-2023, but the opportunity to work with Bright Pixel and postpone and enable a more structured fundraising process to mid-2024 was quite attractive. We want to propel our company forward, focusing on three key objectives that will form the foundation of our success: scaling rapidly and efficiently, establishing ourselves as the global category winners with customer-centric products and services, and nurturing a world-class team that embodies excellence every day.”
Recently, Infraspeak also launched a unique market solution that allows for seamless collaboration between facilities managers and service providers on procurement processes and contracted maintenance work execution.
Founded in 2015, Infraspeak is also known for creating the Intelligence for Maintenance (IFM) community, a space for networking and knowledge exchange within the facilities and maintenance management sector. By providing opportunities for professionals to connect and discuss key challenges, it is contributing to the continuous evolution of the industry and to the company’s motto of being a source of good life into action.
Trusted by over 750 companies spanning across 30 countries, Infraspeak revolutionises daily operations of globally renowned clients such as Siemens, Primark, Foster + Partners, Strata, Penguin FM, Sandvik, or Marriott and Wyndham Hotels. They help manage over 180,000 buildings in healthcare, education, transportation, hospitality and many other sectors.
Headquartered in Oporto, Portugal, and with operations in the United Kingdom, Spain, France, Brazil, Argentina, Angola and South Africa, Infraspeak’s current team stands at 164 employees worldwide. Recently, it announced 5 key hires: Ash Dharmakirthi (Ex-Seismic, Docusign, Symantec) as Regional Sales Manager for the UK & Ireland; Britt Schimmel (Ex-Pleo, Booking.com) as Sales Enablement Manager; Mireia Palmero (Ex-Productsup, Meta) as Solution Advisor EMEA; Nic Cooper (Ex-Trustpilot, Living Social) as Head of Sales Development; and Oriane Millet (Ex-Expertlead, GP Bullhound, Goldman Sachs) as Chief Financial Officer.