Following the Civinity Group’s Board decision to transform the building maintenance group from a traditional model into a technology company, the first steps have been taken. This is the establishment of the property technology company Smart Technologies, headed by the digital marketing and financial technology specialist Viltė Sabalienė. A new member of the Board of Civinity AB, Head of Operations and Innovation Vytenis Morkūnas has also been appointed to take on the digitisation processes and their optimisation in the Group’s companies.
New digital tools and services
Viltė Sabalienė, CEO of Smart Technologies, shares his enthusiasm for this innovation: ‘As technology and digitisation rapidly penetrate people’s lives, proptech – in my opinion – is stagnating. I see broad business prospects and a lot of potential for innovation here. Working with the Smart Technologies team, I will be able to leverage the knowledge and experience I have gained in fintech, from the development of products to their introduction to the market. Under the HoomApps umbrella brand, we are already developing a range of innovative digital products that will make the daily building administration tasks easier. I see this process as an interesting challenge, so I am delighted to join the team.’
According to Sabalienė, in the third quarter of this year the company plans to introduce new digital products for more convenient organisation of everyday life in domestic and business spaces.
‘We focus on the sustainability of cities, offices and dwellings. One of our digital products for the business sector – the Building Management System (BMS) – will make the efficient use of energy easier and regulate the consumption of resources in the premises. Continuous data capture, analysis and the insights provided on a 24/7 basis, as well as fast-response support for those running the buildings, will contribute to saving heating, ventilation, electricity and water costs,’ says Sabalienė.
On 9 June this year, the association Infobalt together with Civinity set up PropTech LT, a digital technology development group in the property sector. This brings together property development and management, IT companies, start-ups and academia. The group is a hub for property digital innovation and expertise, and a platform for collaboration.
New board member Vytenis Morkūnas
Morkūnas describes the first essential tasks and aims: ‘The path that our group has set out to follow – from a building maintenance company operating on a traditional model to a technology company – requires a review of processes. To start with, we need to be ready internally for digitisation and the integration of Smart Technologies’ products into the core platforms of the group’.
Morkūnas notes that customers express a growing demand not only for the traditional building maintenance services, but also for intelligent use of resources, energy and cost savings. ‘We aim to become a leader in the proptech area not only in Lithuania, but also across the Baltic region,’ he says.
For the past few years Morkūnas has been the CEO of Paysera, one of the largest fintech companies in the Baltics; he has also worked at the start-up ‘Kevin’.
Civinity is one of the largest groups of building maintenance and engineering services in the Baltic states. The Board of Civinity Group consists of five members, including the new Head of Operations and Innovation Vytenis Morkūnas. In mid-October 2021, Civinity successfully placed a bond issue worth EUR 8 million, listed on Nasdaq Vilnius.