Prolo, a London-based AI-powered procurement platform designed to help SME construction firms source materials, equipment and plant hire at competitive market rates, has closed an oversubscribed £4.2 million Seed round. The round was led by Triple Point Ventures and joined by a16z Scout Fund, Anamcara Capital, Concrete VC, Foundation Ventures, Haatch, Koro Capital, Love Ventures and Portfolio Ventures. Proceeds will fund go-to-market sales and marketing and accelerate new technology and product rollouts to support the company’s growing base of SME contractor customers.
Procurement in UK construction remains largely analog and highly fragmented, with smaller contractors absorbing the costs of inefficiencies that tier-1 firms avoid through scale and dedicated purchasing teams. The Chartered Institute of Building notes that supply chain disruptions and manual workflows contribute to roughly 40% of projects suffering delays averaging five months. SME site managers routinely spend significant time ringing around builders’ merchants for quotes, lack the purchasing volume to access trade rates reserved for larger contractors, and face standard industry payment terms that strain cash flow when taking on bigger projects.
Prolo addresses each of these friction points through a platform that acts as an outsourced, AI-powered procurement team. Site managers can submit requests via WhatsApp, email or phone call, and Prolo’s combination of AI and human experts scans a nationwide network of more than 185 suppliers to identify competitive trade rates on bulk materials, specialist plant hire and equipment—pricing that is typically accessible only to tier-1 firms. The platform also offers flexible credit options for up to 90 days, which counter standard industry payment terms and allow SME contractors to take on larger projects with greater confidence in their cash flow position.
Prolo was founded by James Morris-Manuel, a serial entrepreneur with a track record in proptech. He previously founded Virtual Walkthrough, scaled it into a European market leader and led its acquisition by spatial data company Matterport, after which he served as EMEA Managing Director at Matterport, establishing its London regional headquarters. That background in building technology businesses around real operational problems in the built environment underpins Prolo’s approach to construction supply chain automation.
Triple Point Ventures frames the investment around the intersection of a critical economic need—housing and infrastructure delivery—and a persistently manual, margin-sensitive process that AI is now well positioned to transform. The firm highlights Morris-Manuel’s repeat-founder track record as a key factor in backing Prolo to build a category-defining business in construction procurement.
KEY QUOTES:
“For decades, SME contractors have been penalised by a lack of price transparency and inefficient ordering, often paying a premium simply because they lack the time and purchasing power of the Tier-1 giants. Through scaling Virtual Walkthrough and my time at Matterport, we learned how to build robust tech that solves very real, very painful operational bottlenecks for the built environment. With Prolo, we are entirely shifting the dynamic of construction supply chains. The demand we are seeing right out of the gate is phenomenal.”
James Morris-Manuel, Founder and CEO, Prolo
“Construction companies are vital to the UK economy, and they will play an increasingly important role as the country looks to accelerate the delivery of new housing and infrastructure. Procurement remains one of the most manual and margin-sensitive parts of running a construction business, and Prolo has a huge opportunity to change that. By using AI to help firms automate procurement, find the right products at the best prices, and improve their margins, Prolo is solving a real and urgent problem for the industry. We’re excited to be backing James, a repeat founder with a strong track record, as he builds a category-defining business in construction procurement.”
Sam Stone, Investor, Triple Point Ventures
