WeMaintain has raised €30 million in Series B funding. The raise follows WeMaintain’s acquisition of fire alarm solutions company Shokly, and allows WeMaintain to accelerate its international expansion and extend its state-of-the-art proprietary technology across the built environment.
WeMaintain’s latest million-dollar cash-backing moves the company closer to realising the company’s ambition to manage the critical elements of a building and power smart cities. New investors supplying the €30m raise are: Red River West, BPIFrance Digital Ventures, and Swiss Immo Lab. Existing investors have signalled their support.
Benoît Dupont, WeMaintain’s co-founder and CEO said: “This raise is a step towards realising our aim to expand globally, including Asia and North America and deliver smart buildings everywhere, using our end-to-end approach to shape the way people live and work. We combine hardware, software and people and bring it to the heart of the built environment. We are delighted to have the support of our existing and new investors, which reflects the strong market interest in our solutions. ”
Having launched in London last year, WeMaintain has struck noteworthy deals with the coworking provider Workspace and Keolis Amey Docklands (KAD), operators of the Docklands Light Railway (DLR), proving its in-house product has the ability to scale. The announcement of the opening of its new office in Singapore reflects WeMaintain’s pathway to becoming the international leader in critical building operations.
Jade Francine, WeMaintain’s co-founder and COO, said: “Our success in Europe is a strong indicator of the global needs of the sector. Property owners and managers have suffered from the status quo. We decided to respond through our technology and our ambitious approach. Singapore is an ideal place to prove the replicability and scalability of our model and technology.”