ProTenders secures $3m Pre-Series A funding
Construction intelligence and procurement platform, ProTenders, has announced that it has successfully completed a Pre-Series A funding by a prominent group of UAE-based investors.
The investment will focus on the growth of ProTenders’ operations across customer success, sales, marketing and research regionally and in Asian markets, as well as strengthening the product offering to include blockchain and smart contracts.
Karim Helal, co-founder and CEO of ProTenders, said: “ProTenders empowers companies to reduce risk and improve efficiency in finding new leads and partners, securely and efficiently. With the strong support from our investors, we are confident that ProTenders will contribute efficiently to digitally transforming the construction industry. From our award-winning e-Tendering solution to insights on $2.62 trillion worth of GCC projects to our online product catalog directory, ProTenders exists to empower every property developer and every construction company to build more sustainably in the Middle East and globally.”
Commenting on the investment with ProTenders, Hamda Saeed Al Otaiba, one of the investors, said: “At this day and age, the trend of investments have shifted from material ones to virtual technological ones where investment in alternative solutions are needed. Construction is an industry that has long required digital transformation, and ProTenders is well-positioned to bring digitalization to the industry. In addition, the high calibre professionals are the backbone of the company and will ensure its steady and fast growth in a short period of time to guarantee excellent returns for its investors.”
The Pre-Series A financing follows an exceptional last 24-months for ProTenders which includes winning distinguishing awards for its innovative technology, an increasing customer base across the region and globally, and the signing of a 3-year e-Tendering deal with Damac Properties.