Prolo, an AI-powered procurement platform helping small and medium-sized construction firms source materials, equipment and labour at competitive market rates, has secured £4.2 million in seed funding. The oversubscribed round was led by Triple Point Ventures, with participation from a16z Scout Fund, Anamcara Capital, Concrete VC, Foundation Ventures, Haatch, Koro Capital, Love Ventures, and Portfolio Ventures.
Founded by serial proptech entrepreneur James Morris-Manuel, Prolo aims to modernise construction procurement by addressing long-standing inefficiencies in the sector.
Despite construction being one of the world's largest industries, procurement remains largely manual, creating significant challenges for smaller contractors. Unlike tier-one firms, SMEs often spend hours contacting multiple suppliers for quotes and frequently pay higher prices because of their limited purchasing power.
To address these challenges, Prolo acts as an outsourced AI-powered procurement team. Contractors can place orders through WhatsApp, email or phone. Prolo then combines AI with human procurement specialists to source competitive pricing from a nationwide network of more than 185 suppliers.
The platform provides access to trade rates on bulk materials and specialist plant hire that are typically reserved for larger contractors. It also offers flexible credit terms of up to 90 days, helping customers manage cash flow and take on larger projects.
Morris-Manuel said SME contractors have long been disadvantaged by limited price transparency and inefficient procurement processes, often paying higher prices because they lack the purchasing power of tier-one contractors. He added:
With Prolo, we are fundamentally changing the way construction supply chains operate. The demand we are seeing from the market has been exceptional.
The new funding will support Prolo's go-to-market strategy, expand its sales and marketing capabilities, and accelerate the rollout of new technology and product features as the company continues to grow its customer base among SME contractors.
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