TMCnet News
Coming to America: Parisian PropTech WeMaintain Raises €30m and Eyes the USWeMaintain, the fast-growing PropTech based in Europe and Singapore, has raised $36 million in Series B funding. The raise allows WeMaintain to accelerate its international expansion and extend proprietary technology across the built environment. Publicly praised by French President Emmanuel Macron, WeMaintain is eyeing North America's growing $7.3 billion PropTech market, where there are already over 2000 PropTech (ReTech) companies. WeMaintain's latest million-dollar cash-backing suppors the company's ambition to manage critical building systems and power smart cities. New investors supplying the €30 million raise are: Red River West, BPI France Digital Ventures, and Swiss Immo Lab. Launched in 2017, WeMaintain has transformed the regulated maintenance market, supplying elevator and escalator solutions, driving innovation in commercial and residential real estate. WeMaintain gives asset owners and operators end-to-end solutions for critical maintenance, using data collected by IoT hardware, supported by cloud-based proprietary technology. The company is praised by customers for giving asset owners unique, real-time information pertaining to building use. This data improves maintenance, building efficiency and occupant experience and allows asset owners to cut costs. Benoît Dupont, WeMaintain's co-founder and CEO said: "This raise is a step towards expanding globally, including into North America, using our end-to-end approach to shape the way people live and work. We bring hardware, software and people into 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 expanded into London last year, WeMaintain has struck deals with the coworking provider Workspace and Keolis Amey Docklands (KAD), operators of the Docklands Light Railway (DLR), proving its in-house product can scale. Jade Francine, WeMaintain's co-founder 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. America is an ideal place to prove the replicability and scalability of our model and technology." This new round allows WeMaintain to invest in IoT research and development and create solutions for all regulated building operations and become the leading global player in the smart building sector. About WeMaintain Founded in 2017 by Benoit Dupont, Jade Francine, and Tristan Foureur, WeMaintain is a French PropTech startup transforming the building operations market. WeMaintain supports both the residential and office markets and has won major contracts with Allianz Real Estate, WeWork, and the DLR in London. Since its launch, the company has raised €38.8M (circa $46M) from Eurazeo, Red River West and BPIFrance Digital Venture. The WeMaintain team, based in Paris, London and Singapore, currently comprises 100 people. https://wemaintain.co.uk
View source version on businesswire.com: https://www.businesswire.com/news/home/20210810005070/en/ |
