Proptech Plentific secures $100m Series C funding for US expansion

24 Aug 2021

Plentific co-founders Emre Kazan and Cem Savas. Image: Plentific

The company plans to further develop its tech to boost digitalisation across the property and facilities management space.

Property management and maintenance software company Plentific has raised $100m in Series C funding, led by new investors Highland Europe and Brookfield Technology Partners.

Existing investors A/O PropTech and Target Global, as well as Mubadala Investment Company and RXR Digital Ventures, also contributed to the funding round.

The London-headquartered start-up, which was founded in 2013, plans to use the capital to further its global expansion and increase its presence in the US market.

Cem Savas, CEO and co-founder of Plentific, said the funding comes following a “phenomenal year of growth” for the company, during which it more than doubled its employee headcount and opened an office in the US.

“Our next step is to rapidly expand in the US, as well as look to begin operating in new geographies,” he added. “We will now be rapidly expanding both our global footprint and the solutions we offer to become the de facto digital partner for landlords and service providers across the world.”

Plentific, which also has offices in the UK, Germany and Turkey, uses cloud-based solutions to provide a completely digital experience to help landlords, property and facilities managers to carry out repairs and maintenance on their properties. The company’s aim is to eventually replace legacy software across this sector.

The latest investment will allow Plentific to intensify its product development, enabling the integration of internet of things (IoT), asset management solutions, and machine learning and artificial intelligence to help landlords with their business decisions.

The start-up will also expand its offering for service providers, increasing its customer relationship management functionality to support the growth of its contractor clients.

Sam Brooks, partner at investors Highland Europe, said: “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.”

Josh Raffaelli, managing partner at Brookfield, added that his company was also pleased to “help fuel Plentific’s growth and expand its global footprint”.

Highland Europe last month led a $20m investment round in edtech company Unibuddy.

Blathnaid O’Dea was a Careers reporter at Silicon Republic until 2024.