Ukrainian Proptech Prengi Fueled with USD 500K for Global Expansion

  • Prengi, the Ukrainian property management SaaS attracted USD 500K in Seed
  • The SaaS platform is a one-stop shop for property and facility management that replaces an array of tools – from highly specific ones and all the way down to Excel tables
  • The investment will be used for strengthening the company’s sales effort in Europe, North America, and MENA

Ukrainian property and facility management SaaS startup Prengi brought in a USD 500K Seed round this April. The investment came from the well-known Ukrainian fund SMRK VC (which recently invested in Deus Robotics).

One-Stop Shop for Property Management

Prengi’s service is an all-in-one platform that combines the management of all the relevant features for managing processes such as:

  • Preventive maintenance, health and safety;
  • HR and labor management;
  • Energy management;
  • Vendor and client portals;
  • Location management (unlimited locations/sites);
  • Inventory and asset management;
  • Inspection management;
  • Budget management;
  • Work order maintenance, planning and scheduling;
  • Cleaning management;
  • Security management;
  • Purchasing and lease management.

‘If You Want Something Done Right, Do It Yourself’

Sergey Shulga, Founder and CEO at Prengi

Prengi’s founder and CEO Sergey Shulga is also the CEO of SHEN, one of Ukraine’s leading facility management companies. Originally, Prengi was developed as SHEN’s proprietary tool for in-house use only. The internally used name ‘Prengi’ was chosen as an acronym for ‘Processes Engine’ (as such, it reads as /PREN-jee/).

‘There were some specific solutions for order management, preventive maintenance, etc. However, we couldn’t find a comprehensive system for property and facility management. Why? Maybe because everyone was focused on sales and some urgent issues for a company to operate properly. We looked deeper and thought about how to save energy resources, reduce the cost of the facility management, and so on,’ Mr Shulga tells ITKeyMedia.

According to Prengi’s numbers, here is how it increased the managed real estate’s ROI:

  • an 18% cost reduction on real estate exploitation;
  • a 9% reduction in energy consumption;
  • a 24% reduction in the cost of proactively maintained equipment.

In-House Tool to a Product for Sale

Eventually, it turned out that if SHEN couldn’t find a similar solution on the market and had to develop one in house, then neither could other companies working in facility management. A decision was made to incorporate Prengi as a separate SaaS provider company.

‘Our clients got interested in our solution and began to ask questions, trying to find out more. So we decided to analyze the market: what players are there? What do they offer? We understood that our solution can make a major influence on the market as it is unique, comprehensive, and can offer significant cost reduction,’ Mr Shulga says.

Global Expansion and AI

Andriy Dovzhenko, Managing Partner at SMRK VC

Today, the startup boasts such household names among its clients as Avalon, DeVision, British American Tobacco, and more. Overall, Prengi is used for managing over 15,000 facilities with their geography spanning across Europe, North America, and the Middle East. The new investment is meant to cement the startup’s positions in these regions through accelerating the sales effort.

According to SMRK’s managing partner Andriy Dovzhenko, their investment in Prengi perfectly fits into the fund’s strategy of supporting Ukrainian companies entering global markets. ‘It took them several years to create this valuable product that provides a really unique software for property management. And the TAM/SAM are really huge and still growing, too,’ Mr Dovzhenko points out.

In addition to the international expansion, Prengi is working on its product development. Keeping up with the global trend, the platform’s next version is going to be AI-powered. The self-learning system will focus on sustainability, energy management, and cost reduction.


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