Dubai-based construction intelligence and procurement platform ProTenders has raised $3 million as Pre-Series A funding, the startup announced today, saying that the investment came from a prominent group of UAE-based investors.
Founded by Karim Helal in 2011, ProTenders is an all-in-one construction platform that enables businesses, developers, consultants, contractors, and supplier, to showcase their companies, find new leads and partners, shortlist bidders, manage RFIs, and streamline their tendering activities. The platform comes with market intelligence solutions as well. Construction companies can also use the platform to build their online reputation.
ProTenders, in their own words, simplifies every step of the construction lifecycle – from finding your next project opportunity to pre-qualifying companies, to procurement and payment.
Karim Helal, Co-founder and CEO of the startup, commenting on the occasion, 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 US$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.”
Hamda Saeed Al Otaiba, one of the investors who joined the round, 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 startup plans to use the investment to grow its operations across customer success, sales marketing and research regionally and in Asian markets, and for strengthening the product offering to include blockchain and smart contracts.
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