London-based property management platform Plentific has raised $100 million in a Series C round. In addition to a significant push into the US market, the startup plans to invest in a wide range of additional product offerings including new AI feautres. Over the course of five rounds, the firm has raised $141 million to date.
Founded in 2013 by CEO Cem Savas and CTO Emre Kazan, Plentific focuses mainly on the repairs on the maintenance side of things, a sector which has traditionally been, shall we say, not so digitalised? For property owners, Plentific provides a marketplace where services can be competitively sourced. For contractors, the platform offers access to new jobs, faster payments, and a complete work management flow. On the back end of all of this, both sides have access to analytics, assisting in future data-driven decisions.
With the robust round, Pentific plans to ramp up product development to enable IoT integrations as well as new asset management solutions. Likewise, and perhaps the most interesting offer here, the startup wants to introduce AI/ML products for commercial and residential property owners to utilise to maximise their returns.
Plentific is by no means alone in the sector, however, they have pulled in some of the biggest numbers, so perhaps it’s a race to the top with the biggest pile of cash. Only time will tell.
The $100 million Series C round was led by new investors Highland Europe and Brookfield Technology Partners alongside Mubadala Investment Company and RXR Digital Ventures. Existing investors A/O PropTech and Target Global also followed on.
Highland Europe’s Sam Brooks comments, “The Plentific team has built a powerful digital platform with exceptional tenant experience at the core and have become the go-to partner for the world’s most well-respected property owners and service providers. We are impressed with Cem and Emre’s commitment to digitizing the entire property management ecosystem and we are thrilled to join them on the next phase of their journey.”
Photo: Michael Austen