Building a Central Ecosystem for Maintenance and Facility Management: Our Investment in Infraspeak

We are excited to announce our participation in the €10M Series A funding round for Infraspeak, acting as co-leader together with Indico Capital. Founded in 2015 by Felipe Ávila da Costa and Luís Martins, Infraspeak is setting new standards in the maintenance and facility management landscape with their Intelligent Maintenance Management Platform. The platform simplifies complex operations, offers unprecedented flexibility, and delivers actionable insights, making it an essential tool for major organizations like Siemens, Mitsubishi Electric,and Hilton Hotels. This latest investment will fuel the expansion of Infraspeak and solidify its role as an industry innovator. With its headquarters in Porto, Portugal, Infraspeak leads the way in blending flexibility, intelligence, and integration into facilities management software. The company currently employs over 150 FTE.

What & Why

To date, the facility management industry has not benefited from the consumerization of software as much as other industries. Frontline workers are often still working with pens and clipboards to perform their activities, resulting in increased paperwork and reduced efficiency. The need for advanced cloud-based computerized maintenance systems is now evolving due to the rise of new opportunities for maintenance management such as IoT and the growing adoption of tech and software across the economy.

Since traditional incumbents were built in the pre-cloud, pre-mobile, pre-open-API, and pre-microservices era, Infraspeak has entered the market to provide a future-proof solution tofacility management industry.

Infraspeak empowers the facility management – field and desk – workforce to digitize their operations and workmore efficiently on the cloud-based and user-friendly web app and mobile application. On the app, facility managers can configure Infraspeak’s native applications with complimentary software, IoT, and hardware integrations and collaborate inside the organization and with its stakeholders. These applications will finally allow the maintenance or facility manager to have insights in, amongst others, performed maintenance tasks, work orders, audits, reports, stock management, and action points to perform preventive maintenance.

The relevance of digitization of facility management is expressed by the growth of adoption of Facility Management Software. As in 2019, this market was $ 37.8 billion, and it is expected to grow annually with 11% to $ 87.1 billion. Amongst others, the 40% of frontline workers who are set to retire until 2026 and innovation in IoT equipment and predictive maintenance are contributing to this growth.

Investment Thesis

Decision-making for maintenance managers becomes increasingly more data-driven, and Intelligent Maintenance Software is essential to realize this. Infraspeak is in a great position as the all-in-one operating software. Our investment has been driven by:

· Vision: The Infraspeak team has built a strong foundation for digital collaboration between all stakeholders in the facility management ecosystem across one central platform. This is an unseen approach to facility management software that will lead to substantial time efficiencies and cost savings across the entire value chain.

· Market Size: the global facility management market is expected to grow at a growth rate of 11.3% from 2020 to 2027, reaching a size of USD 3 trillion by 2027. The market is highly fragmented, and over 43% ofthe European labor force that works in facility management is increasingly demanding user-friendly software to relieve them from their paperwork.

· Trends And Opportunities: We believe Infraspeak fits nicely into trends such as: i) the digitization of the frontline worker, ii) Meeting ESG goals, iii) Collaboration between facility managers, subcontractors, and suppliers due to the increase ofoutsourcing and iv) Managing an increasing amount of data due to the implementation of IoT devices.

· Product: Based on our research, Infraspeak has developed a market-leading product that delivers a unique product experience due to product architecture. Luis and the team have incorporated years of learnings from the facility management industry into the product. This was further supported by excellent product metrics performance.

· Team: The Infraspeak team has impressed us with their structured approach, tech leadership, frugal mindset, and ability to break open a traditional industry. Moreover, Felipe and Luis have shown tremendous resilience and realized substantial growth numbers.

We want to congratulate Infraspeak and our fellow investors in reaching this exciting milestone. We’re looking forward to being part of the company’s future!

More information about Infraspeak can be found on their website: infraspeak.com.