London-based property management platform Plentific has raised $100 million in a Series C funding round. In addition to a significant push into the US market, the startup plans to invest in a wide range additional product offerings, including new AI features. Over five rounds, the company has raised $141 million to date.
Founded in 2013 by CEO Cem Savas and CTO Emre Kazan, Plentific mainly focuses on repairs on the maintenance side, a sector traditionally, shall we say, less digitized? For owners, Plentific provides a marketplace where services can be obtained competitively. For contractors, the platform provides access to new jobs, faster payments and a complete workflow for managing jobs. At the end of it all, both parties have access to analytics, helping with future data-driven decisions.
With this strong cycle, Pentific plans to accelerate product development to enable IoT integrations as well as new asset management solutions. Similarly, and perhaps the most exciting offering here, the startup wants to introduce AI/ML products that commercial and residential owners can use to maximize their returns.
Plentific are by no means alone in the business, however, they have attracted some of the biggest numbers, so this might be a race to the top with the biggest pile of money. 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.
Sam Brooks of Highland Europe comments: “The Plentific team has built a powerful digital platform with exceptional tenant experience at its core and has become the go-to partner for the world’s most respected landlords and service providers. We are impressed with Cem and Emre’s commitment to digitizing the entire property management ecosystem and are excited to join them on the next phase of their journey.
Photo: Michael Austen