Innovative software for property and facility management, Prengi raised a $500k Seed Round
Prengi, a property and facility management SaaS product, raised a $500k seed round led by a venture capital fund SMRK.
Startup Prengi is founded by Ukrainian founders with an office in Florida, USA. Currently, Prengi’s team consists of 20 members and is exponentially growing.
The funding will be used for global expansion in the US, Europe, and the Middle East markets. During the last 6 months, Prengi has expanded to the US, where SMRK recognized its potential. The current value of the company is estimated at $3 million.
The system assists businesses of various sizes in accelerating business growth by arranging for an 18% cost reduction on real estate exploitation, a 9% reduction in energy consumption, and a 24% reduction in the cost of proactively maintained equipment, increasing your real estate ROI. Prengi is a perfect solution for industries such as Hospitality, Education, retail, and restaurants.
When Prengi was created, it wasn’t meant for sale at first, it was a tailor-made product for our facility management company. An online platform for managing all the operations in and around the buildings we had at the time efficiently and transparently.
comments Sergey Shulga, the Founder of Prengi
Later, we discovered that Prengi turned out unique: nothing similar is available on the market yet – not with similar features and not for the same cost.
We have our success story in Ukraine and other European countries, and now our team sees great perspective globally.
Prengi is a comprehensive system for clear and effective facility management for the last 8 years. To manage internal processes efficiently, the average property manager uses different software tools for different tasks — from primitive ones like paper documents and Excel tables to advanced but highly specialized tools with narrow functionality. Prengi consists of modules that cover all aspects of property management and can replace all these 5 or more tools.
Prengi Team has found a set of unique solutions that improve the functioning of the building and client service level, establish internal processes and communication with subcontractors, and speed up typical routine tasks. Users can access the service after paying for a license for the selected period.
The case of the construction company DeVision, which owns real estate objects, including hotels, office centres, shopping centres, and various assets and equipment. The total area of the company’s facilities is more than 1,000,000 square meters. The task of Prengi was to unite equipment, personnel and suppliers in one information field.
For this purpose, modules such as asset and inventory management, supplier portal, and equipment maintenance were used to make all processes clear and fast. The solution helped the company manage all facilities more efficiently, make each decision much faster, and reduce operating costs by 18-20%.
We strongly believe that Prengi could be a valuable addition to our portfolio. The project provides its clients with a powerful product for facility management automation.
says Andriy Dovzhenko, co-founder and Managing Partner at SMRK
Entering a new market is a big challenge for any team, but we have a positive feeling about Prengi’s prospects both on global and US markets.
Prengi software is used by over 15,000 world-known facilities, including retail services, fast food restaurants, state postal services, shopping malls, property management companies, etc. Today the company has clients from Europe, the US, Saudi Arabia, and the Emirates and working with global companies such as KFC, British American Tobacco, DeVision, Avalon, and others.