Proficient, the first end-to-end construction project management platform in Malaysia, announced raising seed funding of MYR1 million ($240,600) from Falnas Capital, a strategic investment firm backed by local entrepreneur SM Faliq SM Nasimuddin.
The startup said it will use the seed funding to further expand its footprint into local and regional markets, while accelerating its platform’s expansion to offer more innovative functions and boost its AI capabilities.
Additionally, part of the funds raised will go towards talent recruitment for the startup’s current core team, according to the announcement.
Established in 2019, Proficient is an end-to-end construction project management software solution designed for the construction sector by industry experts.
The software, developed in Malaysia, incorporates the entire construction management workflow with an aim to enrich all project stakeholders through features and capabilities for effective risk management and improved efficiency, leading to higher productivity and transparency.
“Despite the exponential growth of the construction industry over the past decade, the construction management scene in Malaysia is being hampered from progress by traditional models that can actually be digitized and automated,” said Proficient CEO Jitin Girdhar.
As one of the most active markets in Southeast Asia, Malaysia’s construction industry is poised for an annual growth rate of 6.5% between 2022 to 2025, which will be driven by the economic recovery and key investments within a few sub sectors including transport infrastructure, residential and water infrastructure projects, according to reports.
Proficient said it harnesses the capabilities of its cloud-based project management application to transform the current construction management model into a more efficient and innovation-driven one.
“We hope to be able to create more cohesive collaborations between all project stakeholders that will ultimately translate to increased productivity, greater cost and time savings, along with more streamlined processes,” Jitin added.
Commenting on the investment, SM Faliq SM Nasimuddin, founder of Falnas Capital, said he sees Proficient as an innovative platform that will positively transform the construction landscape in the country.
“We believe that once it has established a firm presence in Malaysia, Proficient is well capable to move to the next level of regional and global expansion,” he added.