Dubai-based ProTenders, a construction intelligence and procurement company, has secured $3 million in its pre-Series A funding, led by a group of UAE-based investors.
The investment will be used to focus on the growth of ProTenders’ operations across customer success, sales, marketing and research both regionally and in Asian markets, as well as expanding its product offering to include blockchain and smart contracts.
“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,” said Karim Helal, co-founder and chief executive officer of ProTenders.
The company has more than 40,000 member companies and 57,000 listed projects, and has processed over $35 Billion worth of bids.
“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 digitalisation to the industry,” said Hamda Saeed Al Otaiba, one of the investors.