Plentific, London proptech bags £72.8M to fuel growth and more
Based out of London, Plentific empowers landlords and property managers to deliver more efficient repairs and maintenance services.
Recently, the property management company, Plentific has raised $100 million in Series C funding, led by new investors Highland Europe and Brookfield Technology Partners. Other investors including, Mubadala Investment Company (Mubadala), RXR Digital Ventures, A/O PropTech, and Target Global, also participated.
How will the funding be used?
With the investment, Plentific plans to grow its presence in the United States, and expand its global footprint. Further, the fund will be used to accelerate its engineering and product development to increase digitalisation across the property and facilities management space.
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.
Empowers landlords and property managers
Founded in 2013 by CEO Cem Savas and CTO Emre Kazan, Plentific has transformed repairs and maintenance processes for landlords, property and facilities managers, and service providers.
Plentific’s cloud-based solutions provide integrate 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 company has also supported its clients in furthering their Environment, Social, and Governance (ESG) credentials and will expand its capabilities in this critical area.
With the aim of becoming an ESG centre of excellence, Plentific will work with clients globally through its PropertyLab accelerator programme.
It will develop solutions that strengthen ESG initiatives and make ESG reporting more robust through enhanced analytics, as well as actively help improve the carbon footprint of properties.
Manages 350,000 properties
At present, the company works with various organisations 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 the USA.
Cem Savas, CEO, and co-founder of Plentific said: “We had a phenomenal year of growth, more than doubling headcount to almost 200 employees, opening an office in the United States and cementing our position in the UK and German markets. Our next step is to rapidly expand in the US, as well as look to begin operating in new geographies. We have only just scratched the surface of a $2.5 trillion potential market opportunity. 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.”
Sam Brooks, Partner at 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. 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.”
Josh Raffaelli, Managing Partner at Brookfield said: “We are thrilled to partner with Plentific as it seeks to fully digitize the repairs and maintenance process. As one of the world’s largest real estate owners, operators, and investors we have first-hand knowledge of how lowering operating costs can help drive efficiencies. We look forward to leveraging that knowledge and experience to help fuel Plentific’s growth and expand its global footprint.”