Jones Lang LaSalle Inc.
08/13/2024 | Press release | Distributed by Public on 08/14/2024 05:44
JLL Spark Invests in Munich-Based PropTech Innovator PROBIS
SAN FRANCISCO, XX.08.2024- JLL today announced that its corporate venture capital arm, JLL Spark Global Ventures, has led the Series A investment round in PROBIS, a company specializing in financial management for real estate development through AI and benchmark technology.
PROBIS' aims to advance the real estate industry by replacing outdated financial management systems. The PROBIS platform offers comprehensive financial control of development projects and enhances cost and revenue management through advanced AI-based technology. JLL Spark's investment helps position PROBIS for substantial growth in the cloud-based project controlling sector.
"JLL's investment is a continuation of our global expansion strategy," said Moritz Koppe, CEO of PROBIS. "Their involvement enables us to grow and offer our customers additional cloud-based AI functions that expand our capabilities in multi-project controlling and the provision of real-time data for real estate lenders and developers."
JLL Spark focuses on investing in PropTech companies that deliver innovative solutions to the real estate industry. The strategic investment in PROBIS aims to drive digital transformation and efficiency within the industry. The partnership will enable PROBIS to leverage JLL's extensive resources and JLL Spark's expertise in PropTech and FinTech, further advancing its software solutions.
"After extensive evaluation, we determined that PROBIS' financial management technology represented a great fit for JLL and its clients, as well as a highly compelling investment opportunity for JLL Spark, said Sean Wright, Principal at JLL Spark in EMEA. "We're excited about the prospects of this partnership and look forward to working with the PROBIS team in the years ahead."
"The investment in PROBIS marks a pivotal step in JLL's digital transformation within our Project & Development Services, said Dunja Nigrin, Head of Project & Development Services DACH at JLL. "By combining PROBIS' AI-driven solutions with our industry expertise, we are poised to redefine project and development management, offering clients efficient, automated oversight from planning to completion. This collaboration underscores our commitment to establishing new standards in ESG, revenue, and construction cost control, ultimately delivering enhanced value and savings for our clients."
The Series A funding round underscores PROBIS' commitment to leveraging technology for enhanced AI-based financial control and calculations. This partnership promises substantial progress in the digitalization of the real estate industry.
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
PROBIS, headquartered in Munich, provides a scalable cloud-based platform for efficient and transparent financial process management, targeting real estate owners, banks, project developers, and investors. Founded in 2022, PROBIS has rapidly become a leading multi-project controlling software in the real estate and finance sectors, known for ensuring cost security and control from early project stages. With up to 1,000 completed projects annually and a management team with 20 years of experience in digital cost control for major developments like airports, hotels, soccer stadiums, and office buildings, PROBIS is a trusted partner. The platform's comprehensive services and user-friendly processes facilitate seamless planning, control, and optimization of projects and portfolios. For more information, visit https://en.prob.is/.
JLL Spark Global Ventures is the corporate venture arm of JLL and a part of the JLL Technologies division. Founded in 2017, JLL Spark offers JLL the ability to provide innovative products and data-driven solutions to real estate owners, occupiers, and users. The JLL Spark fund is run by experienced Silicon Valley VCs and entrepreneurs with successful track records building and investing in tech companies. JLL Spark has invested over $390 million since June 2018 in more than 50 early-stage PropTech startups with underlying investment themes of data and sustainability, across construction tech, financial tech, smart buildings, future of work, and industrial tech. For more information, please visit https://spark.jllt.com.