Plentific, a London, UK-based platform for smart property management, raised $100m in Series C funding.
The round was led by new investors Highland Europe and Brookfield Technology Partners alongside Mubadala Investment Company (Mubadala) and RXR Digital Ventures, as well as existing investors A/O PropTech and Target Global.
The company intends to use the funds to expand its presence in the United States, and globally, and to accelerate its engineering and product development to increase digitalisation across the property and facilities management space.
Founded in 2013 by CEO Cem Savas and CTO Emre Kazan, Plentific provides a cloud-based smart property management platform for landlords, property and facilities managers, and service providers, which features a completely digital experience, and deep insights and analysis for data-driven decision making. The software integrates repairs, compliance, and voids management with a marketplace of more than 16,000 contractors to streamline property maintenance and provide instant insight into the health of a property portfolio.
The latest round will intensify product development to enable the integration of Internet of Things (IoT), asset management solutions, as well as introduce machine learning and artificial intelligence to allow commercial and residential landlords to increase returns and make smarter decisions. Plentific will also expand its offer for service providers, increasing its Customer Relationship Management (CRM) functionality to support the growth of contractors of all sizes.
Founded in 2013, Plentific is used by organizations in property, including L&Q, Peabody, Notting Hill Genesis, Grand City Properties and Knight Frank to manage more than 350,000 properties across the UK, Germany and USA. The company has also supported its clients in furthering their Environment, Social and Governance (ESG) credentials and will expand its capabilities in this critical area.