Stonal, the top European property operations SaaS platform, has acquired $22 million in additional funding headed by RAISE Investissement to drive its growth in the coming months. The platform aims to achieve a revenue target of $100 million in the European real estate SaaS market by 2027. In addition, the company's CEO has been named Robin Rivaton, a well-known VC investor and a proptech expert.
Michel Tolila and Jean-Maurice Oudot, both experienced real estate entrepreneurs, established the platform in the year 2017. Stonal is a SaaS platform that allows property owners and asset managers to better manage commercial, residential buildings and properties by capturing their whole portfolio. Employees, vendors, and partners can access the platform in many different ways (property managers, facility managers, brokers, etc.). Its artificial intelligence-powered program reads, checks, and sorts all data, papers, and plans, resulting in a complete and a up-to-date master data set for use. ESG reporting, financial analysis, and maintenance planning are among the decision-making modules that help to increase returns, productivity, and the value preservation.
Stonal's revenues hit $11 million in the year 2021, becoming a profitable entity. Over a hundred and thirty clients, including REITs, insurers, social housing organizations, asset managers, and family offices, rely on the platform to manage a combined portfolio of over 200 million square meters across the European region. With the $22 million investment from RAISE Investissement and the existing shareholders, Stonal will be able to expand its product and technology platform and add over 50 qualified individuals to its existing 120 person team. After the successful completion of the acquisition of Labeo in 2020, the French leader in social housing with over 1.3 million units, the business will definitely continue its acquisition plan. The firm's goal is to reach a whooping $100 million in revenue in five years by taking advantage of the antiquated IT infrastructure among large real estate asset managers.
Stonal's revenue is rapidly expanding. Rising interest rates and the real estate industry's objective of net-zero carbon emissions put pressure on asset managers and owners to continuously improve their operational performance and the return on assets that they provide to the customers. Robin Rivaton will join Stonal as the CEO to aid in working on and achieving the company's rapid growth ambitions. Robin founded RealEstech, one of Europe's most well-known proptech firms, and was a VC investor at Eurazeo. As a board member of various property developers and REITs in France, he has a large network and a good name in the real estate business.
Here’s what the key stakeholders have to say
Michel Tolila, the Chairman and co-founder of Stonal: "During my entrepreneurial journey in the real estate industry, I have constantly tried to improve the knowledge about buildings to increase return and tackle climate change. I am glad to welcome Robin Rivaton and RAISE Investissement to accelerate growth".
Robin Rivaton, the CEO of Stonal: "The physical "built" environment has a significant impact on the changing climate we are experiencing. Stonal's mission is to make buildings more efficient, more sustainable and more affordable by leveraging data and I am proud to be part of it".
