UAE's Construction Tech Startup Procurified Raises $1.1M Seed Round
Founded in 2019 by Marc Lemmens and Rupert Tait, Procurified aims to connect buyers to their vendors to automate the very manual excel and PDF-reliant process of project bidding.
Procurified, a UAE-based construction tech startup, has raised $1.1 million in its seed round led by DIFC-based Aditum Investment Management, with participation from US-based Signal Peak Ventures, Al Hathboor Group, Empede Capital and angel investors.
Founded in 2019 by Marc Lemmens and Rupert Tait, Procurified aims to connect buyers to their vendors to automate the very manual excel and PDF-reliant process of project bidding. The new funding will be used to grow the team to accelerate the growth of the startup.
“We are delighted to have closed our seed round with really great investors,” Rupert Tait, co-founder of Procurified, tells StartupScene. “Our priority now is to establish an awesome team so we are hiring for key roles in product, engineering and sales. We are excited about our ambitious growth trajectory, with our Series A Round in the next 12-18 months.”
The software as a service (SaaS) sector in the Middle East has witnessed significant growth since 2021. In H1 2022, the SaaS space experienced 100% YoY growth in VC funding, with 32% more deals than the previous year, according to Emerging Venture Report by data platform Magnitt. Some startups driving this growth include Saudi AI startup, Mozn, which raised $10 million in February 2022, and UAE based FlapKap, focused on e-commerce and SaaS growth, which raised $1.2 million in March 2022.