Image credits: WeMaintain
Paris-based WeMaintain, a proptech company that aims to become the go-to when it comes to critical building management systems, announced that it has raised €30M in its Series B round of funding.
The round saw participation from investors including Red River West, BPI France Digital Ventures, and Swiss Immo Lab. Since its inception in 2017, WeMaintain has raised a total of €38.8M in funding.
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“We rise by lifting others”
WeMaintain is a tech-enabled lift maintenance company that provides building managers with a service that combines the technical skills of lift engineers and predictive power of its proprietary technology. The company claims to have transformed the regulated maintenance market, supplying elevator and escalator solutions, and driving innovation in commercial and residential real estate.
Founded by Benoit Dupont, Jade Francine, and Tristan Foureur, 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 gives asset owners real-time information pertaining to building use. This data improves maintenance, building efficiency, and occupant experience and allows asset owners to cut costs.
Last year the company expanded its services in London and 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, says, “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.”
The company supports both the residential and office markets and has major contracts with Allianz Real Estate, WeWork, and the DLR in London. The WeMaintain team, based in Paris, London and Singapore, currently comprises 100 people.
Capital utilisation
The proceeds from this round will help WeMaintain to accelerate its international expansion and extend proprietary technology across the built environment. The company reports it will also invest in IoT R&D and create solutions for all regulated building operations.
Publicly praised by French President Emmanuel Macron, the company is eyeing North America’s growing $7.3B PropTech market, where there are already over 2000 PropTech (ReTech) companies.
Speaking on the development, Benoît Dupont, WeMaintain’s co-founder and CEO says, “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.”
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