Stonal raises USD 22m in new funding
27 April 2022
Stonal, a European property operations SaaS platform, on 27 April announced that it has raised USD 22m in new funding.
RAISE Investissement led the round and the proceeds will be used to accelerate its expansion.
Founded in 2017 by Michel Tolila and Jean-Maurice Oudot, Stonal reported USD 11m in FY21 revenues and has 120 employees.
Stonal, the European property operations SaaS platform leader, has signed a new funding of $22 million led by RAISE Investissement to accelerate its expansion. This funding will enable Stonal to reach a $100 million revenue target on the European real estate SaaS market by 2027. Robin Rivaton, a recognized VC investor and proptech expert, joins the company as CEO.
Stonal was founded in 2017 by Michel Tolila and Jean-Maurice Oudot, successful entrepreneurs in real estate. Stonal enables commercial and residential buildings to be managed more efficiently by offering property-owners and asset managers a SaaS platform capturing their entire portfolio. Its platform is open to an unlimited number of employees, suppliers or partners (property managers, facility managers, brokers…). Its proprietary AI-powered application reads, checks and sorts all data, documents and plans creating an accurate and continuously updated master data set. Its decision-making modules offer ESG reporting, financial analysis and maintenance planning to increase returns, improve productivity and preserve value.
In 2021, Stonal reached $11 million in revenues and became profitable. Stonal helps more than 130 clients, REITs, insurers, social housing organizations, asset managers, family offices, to manage a combined portfolio of more than 200 million sqm throughout Europe. The $22 million investment from RAISE Investissement and existing shareholders will enable Stonal to invest further in its product and technology platform, expand into Germany and the United Kingdom and add 50 talented employees to the existing 120-person team. The company will also pursue its acquisition strategy after successfully completing the acquisition of Labeo in 2020, the French leader in social housing with 1.3 million units. The company’s ambition is to reach $100 million in revenues within five years, taking advantage of the aging IT infrastructure among major real estate asset managers.
Stonal is experiencing strong growth in revenues. Rising interest rates and the real estate industry’s commitment to net zero carbon emissions are pushing asset owners and managers to constantly improve their operational performance and return on assets. To lead rapid growth, Robin Rivaton will join Stonal as CEO. Robin was a VC investor at Eurazeo and founder of RealEstech, one of the most recognized proptech experts in Europe. As board member to several property developers and REITs in France, he has an extensive network in the real estate industry.