JLL Spark Leads $5.5M Funding Round for AI-Powered Real Estate Firm Probis

JLL Spark leads funding round for AI real estate firm PROBIS By Investing.com

CHICAGO - JLL Spark Global Ventures, the venture capital arm of real estate giant JLL, has spearheaded a Series A investment in Munich-based PROBIS, a company specializing in AI-driven financial management for real estate development. The investment, announced today, aims to fuel PROBIS' growth and bolster its cloud-based financial control solutions for the real estate sector. PROBIS focuses on enhancing financial management of development projects by implementing advanced AI technology. Its platform seeks to provide more comprehensive financial oversight, improving cost and revenue management for real estate developers and lenders. The investment by JLL Spark is set to facilitate PROBIS' global expansion and development of new AI functionalities for multi-project controlling. Moritz Koppe, CEO of PROBIS, expressed that JLL's involvement is a strategic move to accelerate their global expansion and improve their offerings with additional cloud-based AI features. JLL Spark invests in PropTech companies that introduce innovative solutions, and this investment in PROBIS aligns with their goal to drive digital transformation and efficiency in the real estate industry. Sean Wright, Principal at JLL Spark in EMEA, stated that PROBIS' technology aligns well with JLL's client needs and presents a compelling investment opportunity. Dunja Nigrin, Head of Project & Development Services DACH at JLL, highlighted that combining PROBIS' AI solutions with JLL's expertise is expected to revolutionize project and development management, optimizing efficiency and cost control. Founded in 2022, PROBIS has quickly established itself as a significant player in the real estate and finance sectors, with a track record of managing up to 1,000 projects annually. Its platform offers scalable and transparent financial process management for various stakeholders in real estate. This Series A funding underscores the commitment of both companies to leverage technology for improved financial management in real estate. The collaboration promises to make significant strides in the industry's digitalization. The information in this article is based on a press release statement. In other recent news, Jones Lang LaSalle Incorporated (JLL) reported a strong Q2 in 2024, with a 12% rise in revenue to $5.6 billion and a 23% increase in adjusted diluted EPS to $2.55. Despite a slight downturn in the global commercial real estate market, the company's workplace and property management sectors drove profitability with an 11% increase in adjusted EBITDA to $246 million. However, JLL Technologies and LaSalle experienced revenue declines of 7% and 27% respectively due to lower bookings and a decrease in incentive fee activity. In spite of these declines, JLL's financial position remains strong with a 19% increase in free cash flow to $236 million and $2.4 billion in liquidity. This supports the company's optimistic outlook for the latter half of the year and their increased full-year adjusted EBITDA target range. These are among the recent developments in the company. JLL executives have noted the impact of cost reduction actions across all business segments and have addressed concerns about potential recession effects. The company's capital allocation strategy includes reinvesting for growth, reducing debt, evaluating mergers and acquisitions, and share repurchases. The company also expects an acceleration in transaction activity and plans to invest in capabilities to strengthen product offerings. As JLL Spark Global Ventures invests in the innovative AI-driven financial management company PROBIS, JLL's own financial metrics and strategic moves are noteworthy. According to InvestingPro data, JLL has a market capitalization of $11.15 billion and is trading at a price-to-earnings (P/E) ratio of 29.17. Notably, the company's revenue for the last twelve months as of Q2 2024 stands at $21.75 billion, with a growth rate of 5.82%, indicating a solid financial performance. InvestingPro Tips highlight that JLL is a prominent player in the Real Estate Management & Development industry, and its management has been actively buying back shares, showcasing confidence in the company's value. Moreover, the company has been profitable over the last twelve months, and analysts predict it will remain profitable this year. Additionally, JLL does not pay dividends, which could indicate a reinvestment of profits back into the company's growth and development -- aligning with the strategic investment in PROBIS. For readers interested in a deeper dive into JLL's financial health and performance, InvestingPro offers additional tips. Currently, there are 11 more InvestingPro Tips available, providing insights that could be crucial for investors considering JLL's stock in light of its recent investment activities. These tips can be accessed through the InvestingPro platform at https://www.investing.com/pro/JLL.

JLL Spark Invests in Munich-Based PropTech Innovator PROBIS - Jones Lang LaSalle (NYSE:JLL)

*Terms and conditions apply. Visit Nada's website for more details. Strategic Investment to Accelerate PROBIS' AI-Powered Financial Management Solutions for Real Estate Development and Support Global Expansion CHICAGO, Aug. 13, 2024 /PRNewswire/ -- 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. About PROBIS 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/. About JLL Spark 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. About JLL For over 200 years, JLL 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. Contact: Lesley Mirkowski Phone: +1 312 228 2112 Email: Lesley.Mirkowski@jll.com View original content to download multimedia:https://www.prnewswire.com/news-releases/jll-spark-invests-in-munich-based-proptech-innovator-probis-302220439.html SOURCE JLL Market News and Data brought to you by Benzinga APIs