Today Portuguese Intelligent Maintenance Management Platform (IMMP) Infraspeak announced a funding extension of €7.5 million extension from Bright Pixel, bringing the company's Series A funding to €17.5 million.
The round comes eighteen months after a €10 million funding round, which also included current investors Caixa Capital and 500 Global.
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.
The company also recently launched a unique market solution allowing seamless collaboration between facilities managers and service providers on procurement processes and contracted maintenance work execution.
Trusted by over 750 companies spanning across 30 countries, Infraspeak supports over 750 companies across 30 countries, including 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.
Felipe Ávila da Costa, co-founder and CEO of Infraspeak states:
"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."
Leonor de L'Hermite, Operating Partner at Bright Pixel shares that "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."
The company will use the funding to recruit new team members and expand globally, with plans to further develop its operations in France and Denmark and pace up growth in Latin America.