Overview

Virtual Facility specializes in building intelligence and workflow automation software for institutional facilities like hospitals, universities, and corporate campuses. Their platform helps these large-scale buildings manage complex operational challenges by streamlining the workflow related to alarms, maintenance tasks, and overall operational health. The software uses data-driven insights to prioritize and resolve alarm events, which helps reduce unnecessary alarms and address critical issues quickly. This proactive approach keeps all stakeholders informed in real-time and lowers operational costs. Virtual Facility operates on a software as a service (SaaS) model, where clients subscribe to access the platform's tools, enhancing productivity and efficiency. The company's goal is to empower facilities to better understand and control their operations, allowing them to focus on their core activities without being hindered by inefficiencies.

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