PRODA raises £6.6m in Series A funding led by ING Ventures to scale its real estate data platform.
The Series A round was led by existing backer ING Ventures with participation from JLL Spark, Blackstone, and Concrete Ventures.
PRODA provides a cloud-based software platform that automates the standardisation and analysis of rent roll data for the commercial real estate sector. The technology operates across sixteen countries to help firms improve data visibility and processing efficiency.
London-based data processing platform PRODA has raised £6.6m in a Series A funding round led by ING Ventures. The round also drew participation from new backers JLL Spark, Blackstone Innovations Investments, and Concrete Ventures, alongside existing supporters SURPLUS Equity Partners and M7 Real Estate.
The capital will be directed towards expanding the capabilities of PRODA's platform and growing its footprint across Europe and international markets. The company automates the handling of property and unit level data, reducing processing times for lenders, asset managers, and investors.
From the founder
"We are thrilled that companies like ING Ventures, JLL Spark, Blackstone and Concrete VCtook part in our latest funding round. Alongside existing investors like SURPLUS EquityPartners and M7 Real Estate, we have fantastic support as we continue to fulfil our missionof transforming data from a headache into an asset."
Peter Bredthauer
Co-founder and CEO at PRODA
Investor perspective
"As both a customer and an investor, we have been hugely impressed with the progressPRODA has made since the previous round of fundraising. Not only has the team grown tomeet rapidly increasing demand, but PRODA’s product development has been exceptionallywell thought through, enabling us to provide best-in-class services to our employees andclients."
Vincent Buitelaar
Director, ING Ventures
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Vincent Buitelaar
ING Ventures
Tanguy Quero
JLL Spark
John Fitzpatrick
Blackstone Innovations Investments
Arnaud van der Wyck
Concrete Ventures
