RXR Digital Ventures, the corporate venture capital arm of real estate developer RXR Realty, has taken part in a $100m series C round for UK-based property management platform Plentific.
Alternative asset manager Brookfield Asset Management’s technology investment subsidiary, Brookfield Technology Partners, and growth equity fund Highland Europe co-led the round.
Abu Dhabi’s sovereign wealth fund, Mubadala Investment Company, also contributed to the round in addition to venture capital firms A/O Proptech and Target Global.
Founded in 2013, Plentific has developed software tools that help property managers and landlords manage tasks such as repairs, compliance and void management. It also operates an online marketplace for selecting and hiring tradespeople.
Plentific will use the series C funding to support its growth in the United States and expand globally. The capital will also accelerate its engineering and product development activities for the implementation of technology such as internet-of-things, machine learning and artificial intelligence.
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.”
Plentific has raised $141m across five rounds so far, according to Tech.eu. A/O Proptech led the company’s $32.1m series B round in November 2018, which included Target Global and Round Hill Ventures.
Plentific raised $2.6m in a 2016 round featuring Pi Labs and undisclosed investors.