Fexa, a SaaS (Software-as-a-Service) solution for facility maintenance departments and service providers looking to improve efficiency and cost effectiveness of their operations, announced today a $40 million investment from Mainsail Partners, a growth equity firm that invests in fast-growing, bootstrapped software companies.
This is an exciting inflection point for our company,” said Marc Balzamo, founder and CEO of Fexa. “Having built a solution that we believe is the most configurable, complete, and modern solution in the market for facility management teams and maintenance service providers, we felt now was the right time to bring on a partner. This partnership will allow us to deliver even more value to our customers. We are excited to benefit from Mainsail’s hands-on support and experience in scaling software companies in the next phase of our journey.”
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Founded in 2011, Fexa was built to meet the needs of facilities maintenance professionals and maintenance service providers by automating workflows for preventative and reactive maintenance; managing third party vendors; invoicing for completed projects; providing insightful reporting and analytics; and ensuring an audit trail for managing compliance of all vendor activities. The highly configurable platform touts “Fexability” with a compelling workflow engine to serve customers in a wide range of markets, including retail, healthcare, automotive, quick serve restaurants, e-commerce logistics and convenience. Fexa also promotes a special culture for its internal and external stakeholders, boasting values of Human First, Innovation, Integrity and Customer Success.
Numerous blue chip brands and Fortune 500 multi-location operators trust Fexa as their system of record to manage facilities maintenance. Fexa’s solution is used to manage more than 2 million locations worldwide and is growing. Fexa’s customers are able to leverage the platform’s tools for customer-centric workflow management and greater efficiency through automation.
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“As the costs related to labor and materials have increased, facilities operators have been forced to do more with less and are focused on improving efficiency and reducing expenses, often looking to technology to help drive efficiency,” said Vinay Kashyap, a Partner at Mainsail Partners. KC Kanoff, a Principal at Mainsail continued, “We believe the team at Fexa has done an outstanding job building a product and customer support model that addresses the needs of facility managers and maintenance service providers. We have been incredibly impressed with the team and are excited to partner with them in an effort to further establish their leadership position in the industry.”
Fexa plans to use the capital to accelerate the development of product features, enhance integration capabilities, and broaden industry partnerships.
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