FM Software Company Raises a $500k Seed Round

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• FM Software Company Raises a $500k Seed Round

13 April 2023

Prengi, a property and facility management SaaS product, has raised a $500k seed round.

Prengi is an FM software tool that helps managers to manage their internal processes more efficiently, promising an 18 per cent cost reduction on real estate exploitation, a 9 per cent reduction in energy consumption, and a 24 per cent reduction in the cost of proactively maintained equipment.

The funding will be used for global expansion in the US, Europe, and the Middle East markets. During the last six months, Prengi expanded to the US which led to venture capital fund SMRK investing. The current value of the company is estimated at $3 million.

Sergey Shulga, the Founder of Prengi said: “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. 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, for sure. We have our success story in Ukraine and other European countries, and now our team sees great perspective globally.”

Picture: a photograph of Sergey Shulga. Image Credit: Prengi

Andriy Dovzhenko, Co-Founder and Managing Partner at SMRK added: "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. 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, working with global companies such as KFC, British American Tobacco, DeVision, Avalon, and others.

Picture: a photograph of two people looking at a smartphone screen, shown from the neck down.  Image Credit: Unsplash

Article written by Ella Tansley | Published 13 April 2023

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