Overview

Virtual Facility provides software that helps manage and automate the operations of large buildings like hospitals, universities, and corporate campuses. Their platform focuses on improving workflow by using data to manage alarms and maintenance tasks efficiently. This software allows facilities to prioritize and resolve alarm events quickly, which helps reduce unnecessary alarms and address important issues in a timely manner. Unlike many competitors, Virtual Facility offers a subscription-based service that gives clients access to intelligent tools designed to enhance productivity and operational efficiency. The main goal of Virtual Facility is to help institutional facilities lower their operational costs and improve their overall management by providing real-time insights and automation.

Simplify's Take

What believers are saying

• Rising demand for energy-efficient solutions aligns with Virtual Facility's cost-reduction focus.
• Integration of IoT devices enhances predictive capabilities of Virtual Facility's platform.
• Growing adoption of cloud-based solutions supports Virtual Facility's scalable SaaS model.

What critics are saying

• Increased competition from startups could erode Virtual Facility's market share.
• Stricter data privacy regulations may impact Virtual Facility's operational flexibility.
• Economic downturns could reduce budgets for facility management solutions.

What makes Virtual Facility unique

• Virtual Facility offers ML-powered building intelligence for operational cost reduction.
• The platform provides real-time engineering and operations management support for large facilities.
• Virtual Facility's SaaS model allows scalable and flexible solutions for institutional clients.

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Funding

Total Funding

$9M

Above

Industry Average

Funded Over

1 Rounds

$9,000,000

Seed

Jun 2022

Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.

Seed Funding Comparison

Above Average

Industry standards

Ind Avg. $3.3M

$500k

$1.5M

$2M

$2.3M

$3M

$9M