AtarCloud announced the closing of a $1.3 million seed investment round with the participation of BIM Ventures along with angel and institutional investors from within the Investors’ Mine Group.
Founded in 2021 by Haseeb Mohammad and co-built with BIM Ventures, AtarCloud envisions to digitally transforming properties into integrated, liveable communities with a high focus on the end-user experience. The platform targets property owners and real estate developers and provides them with tools to streamline their property management activities including basic operations such as digital onboarding, service ticket management and payments as well as a range of engaging features including sending announcements, organizing events, or providing exclusive offers to residents.
AtarCloud has entered the property management market at a time when real estate developers are competing to develop integrated communities in response to end consumers looking for properties that offer an improved living experience. The property management market in Saudi Arabia today is worth over $8 billion annually and is expected to grow by over 50% over the coming years.
On this occasion, Haseeb Mohammad, Founder and CEO, stated: “We’re proud to be enabling property owners and real estate developers in setting the new standard in property management in Saudi Arabia. We focus on providing the right tools and features not only to our customers, but also their customers, and this has been a key success factor for us throughout the journey.“
“We’re proud of the success AtarCloud has shown in redefining the property management industry in Saudi Arabia, and this milestone further strengthens our mandate as a Venture Builder to build great Proptech companies with great founders,” said Rayan Alsharif, Partner at BIM Ventures.
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