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Case Study

Building Toward the Agentic Future of Facilities Management

SaaS
Founded: 2012
Invested: 2022
Status: Current
Location: Cherry Hill, NJ
Overview

Fexa is a facilities management platform built for multi-site operators across retail, grocery, and restaurants. With agentic AI at its core, Fexa strives to guide facilities teams to faster decisions, reducing costs, improving asset performance, and raising operational standards across every location. Fexa’s portfolio includes Fexa CMMS, Fexa Trakref for HVAC/R and refrigerant management, and FexaLink, a no-fee vendor network.

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At-A-Glance

Fexa and Mainsail worked together to:

– Build out the leadership team by hiring a Lead Board Director, Independent Board Director, Technology Board Advisor, CFO, CRO, CMO, Chief Customer Officer, and VP People Operations, while partnering with the founder to transition to Board Technology Advisor and hire a successor as CEO to lead future growth

– Launch FexaAI, a multi-agent AI platform purpose-built for facilities management

– Mature go-to-market strategy by refining its ICP, implementing Salesforce CRM, and rolling out new commercial pricing terms

– Support a strategic provider strategy enabling operators under an integrated facilities management model to use Fexa

– Acquire Trakref and expand Fexa’s TAM into sustainability and environmental compliance

– Drive cross-sell growth following full integration of Trakref into the Fexa platform

THE STORY

Fexa was founded in 2012 with a clear mission: give facilities management teams the software they actually need to manage the complexity of multi-site operations. For too long, facilities managers at retail chains, restaurant groups, and commercial real estate operators had been cobbling together spreadsheets, legacy systems, and one-off tools to manage thousands of locations. Fexa set out to change that with a modern, cloud-based platform designed for the realities of the job.

By 2022, Fexa had established itself as a trusted platform for multi-site operators, with a growing customer base and opportunity to scale. The company sought an investment partner who could bring not just capital, but deep operational experience helping vertical software companies grow. In 2022, Mainsail Partners invested in Fexa to help accelerate its product roadmap, expand its team, and build the infrastructure needed to capture a large and underserved market.

“Mainsail has been a thoughtful, hands-on partner to Fexa across our business, relating their own vertical software experience to help set us up with the infrastructure and team to accelerate growth. Most recently, Mainsail AI Labs was instrumental in helping us design and execute on the roadmap to bring FexaAI to life, giving facilities managers a smarter, faster, and more connected way to manage work across every site they oversee.”

Kurt Smith
CEO, Fexa
MAINSAIL'S VALUE ADD
Talent Acquisition and Leadership Development

Supported by Mainsail’s Talent Team, Fexa significantly expanded its executive bench. Mainsail helped recruit a Lead Board Director, Independent Board Director, Technology Board Advisor, CFO, CRO, CMO, Chief Customer Officer, and VP People Operations, while partnering with the founder to transition to Board Technology Advisor and hire a successor as CEO to lead future growth. Mainsail also introduced 360 and Hogan assessments to the company, and its team participated in the Mainsail LEAP program for leadership development.

Agentic Architecture & AI Product Development

Mainsail AI Labs worked alongside the Fexa team to build the infrastructure for the FexaAI platform—natively embedding an agentic AI layer into its core architecture and designing a framework that can expand into a connected system of agents.

With that foundation in place, Mainsail AI Labs and Fexa built an Answers Agent, which allows operators to ask questions in plain language and navigate directly to the right operational data across work orders, assignments, invoices and proposals from within the chat. Every result is scoped to their permissions and grounded in live data, giving operators the information they need to make faster decisions.

FexaAI also includes a Work Order Agent, which guides store teams through creating clear, complete work orders by asking the right questions upfront, preventing unnecessary dispatches and capturing clean data from the store the first time.

The collaboration was designed around a core vision: AI in facilities management should reduce friction, surface insights faster, and help operators make smarter decisions across every location in their portfolio, not just report.

 

Go-to-Market Excellence

Mainsail worked with Fexa to mature its go-to-market strategy across several dimensions. This included refining Fexa’s Ideal Customer Profile (ICP), analyzing the competitive landscape to sharpen differentiation, and supporting the implementation of Salesforce CRM to improve forecasting accuracy and streamline the lead-to-close process. New commercial pricing terms and conditions were also rolled out to better align price to value.

Legal Training

Mainsail trained Fexa executives and the sales team on a customer contracting playbook to improve negotiation speed and efficiency and to reduce reliance on outside counsel for customer agreements.

Strategic M&A

In April 2023, with Mainsail’s support, Fexa acquired Trakref, a platform purpose-built for refrigerant tracking and compliance management for multi-site facilities operators. The acquisition expanded Fexa’s total addressable market into sustainability and environmental compliance—an increasingly critical domain for multi-site operators facing regulatory requirements around refrigerant management.

OUTCOMES

Since partnering with Mainsail, Fexa has built out its leadership team, expanded its platform through strategic acquisition, and positioned itself as an AI innovator in facilities management. The launch of FexaAI marks a new chapter for the company—transforming Fexa into an intelligent platform capable of learning, automating, and helping facilities managers improve operations at scale across multi-site portfolios. As Fexa looks ahead, the company is focused on continuing to expand its product offerings and deepen its impact for facilities teams across retail, grocery, and restaurants.