Prolo, an AI-powered procurement platform designed to support SME construction firms source materials, equipment, and hire at the best market rates, has secured £4.2 million in seed funding.

The round was led by Triple Point Ventures and joined by a consortium of leading venture capital firms, including the a16z Scout Fund, Anamcara Capital, Concrete VC, Foundation Ventures, Haatch, Koro Capital, Love Ventures, and Portfolio Ventures.

The funding will fuel the company’s focus on go-to-market sales and marketing efforts, and accelerate new tech and product rollouts to ensure robust support for its growing base of SME contractor customers.

Prolo was founded by James Morris-Manuel, a successful serial entrepreneur in PropTech, having previously founded the startup Virtual Walkthrough, building it into a European market leader before leading its successful acquisition by the spatial data giant Matterport.

Following the exit, Morris-Manuel served as EMEA Managing Director at Matterport, establishing London as the company’s regional headquarters.