Dubai-based construction intelligence and procurement platform, ProTenders, has raised $3 million in a pre-series A funding round led by a prominent group of UAE-based investors.
The company said that the new investments will be used to boost the company’s 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.
Launched in 2011, ProTenders is a construction intelligence and procurement platform, empowering developers, consultants, contractors, suppliers and manufacturers around the world to showcase their companies, find new leads and partners, manage their procurement process securely and efficiently, and streamline all their tendering activities.
ProTenders ‘s pre-series A round follows the signing of a three-year e-Tendering deal with DAMAC Properties. The company says it has over 40,000-member companies and 57,000 listed projects, and has processed over $35 billion worth of bids.
“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” said Karim Helal, co-founder and CEO of ProTenders.
ProTenders’ clients included DAMAC, Reem Readymix and Abu Dhabi Commercial Engineering Services (ADCE).