by Janet Stroud — June 24, 2022 — Virtual Facility, a leader in the application of machine learning and automation to the management of alarms and maintenance work orders for the built world, has just announced it closed a $9 million seed round of funding from lead investor Camber Creek with participation from existing investors Primary and Ubiquity Ventures.
The proliferation of building data from the Internet of Things, the loss of experienced personnel to retirement, and adapting to a post-pandemic world has made the digital transformation of facilities management a high priority, notes the company.
Virtual Facility helps facilities managers (FMs) and building engineers make data-driven decisions about alarms and maintenance work orders. Virtual Facility’s preliminary analysis shows that 47% of work done in response to alarms is unsuccessful. Alarm overload and nuisance alarms cause notifications about failing equipment and critical systems to be ignored.
Virtual Facility works with leading institutions, including Columbia University Irving Medical Center, NYU Langone Health, and Virginia Commonwealth University, among others. With this new infusion of capital, Virtual Facility will further expand its offering to empower current and future customers while exploring additional industry verticals where its alarms insights platform can make a meaningful impact.
Camber Creek Investor Jean-Paul Bowgen pointed out:
Virtual Facility is trusted by complex, mission-critical institutions, such as healthcare, pharmaceutical, research, and data center facilities, where the margin for error is very thin. We are excited to work with this team to bring the same operational efficiency to a broader market.
Virtual Facility’s cloud-based software-as-a-service (SaaS) platform, Alarm Triage, brings together disparate alarm data from different building automation systems (BASs) to create a single window into facility operations. The application of machine learning adds metadata to existing alarms so that they can be better understood and filtered and viewed through lenses that strip away irrelevant alarms. This creates actionable insights that eliminate nuisance alarms, lead to faster resolution times, and prioritize alarms for maintenance.
Alarm Triage then connects to maintenance management systems to create, track, and correlate the effectiveness of unplanned work based on the re-occurrence of associated alarms.
Users can further increase their already lean workforce’s efficiency by embedding resolution procedures, adding notes to work orders, and viewing details within specific work orders to view an alarm’s resolution history. Customers have estimated these insights increased total labor productivity between 3x and 5x.
Mark Prewett, Virtual Facility’s co-founder and CEO, remarked:
We help critical facilities teams direct their attention to where it’s needed most. Every day, we hear from our customers how Alarm Triage has expedited their ability to identify the root cause of issues and mitigate operational risk.
For more information, visit the Virtual Facility website.