A strong team. A new foundation. Series A with JLL Spark.
How we found an exceptionally strong team with deep domain knowledge at Probis, added new tech capability — and together laid the foundation for an international cloud platform, with a Series A led by JLL Spark.
- Venture
- Probis
- Case
- Strong team, new foundation
01Intro
Intro
Probis makes cost-management software for real estate: developers, construction companies and asset managers use it to keep project costs under control. The company spun out of a consultancy and had been bootstrapped for more than ten years.
The product was a Windows desktop application, streamed through a terminal server and sold as one-time licences. Behind it stood an exceptionally strong team with deep domain knowledge. What was missing was the technical foundation for the next step.
02Situation
From due diligence to co-founder
mantro first came in on behalf of a potential investor — to run a tech due diligence. The longer we looked, the clearer it became: this was a team that knew its market like few others. The product just couldn't keep up with that knowledge.
So we switched sides. Instead of writing a report, we joined as institutional co-founder — for equity, not fees. The team brought the domain knowledge, we brought the tech capability to rebuild the foundation.
Our conviction: you can't buy domain knowledge. Technology you can add. Together, that makes a company international investors back.
Not a report. A new foundation.
03Approach
Our job
Step 01 / 04
A new foundation in about twelve months
Together with the Probis team, we rebuilt the product from a desktop application into modern cloud SaaS — more than ten years of market knowledge, on an architecture built for several markets.
Step 02 / 04
A new business model
From one-time licences to subscription. We built the financial model with a growth case that investors could underwrite.
Step 03 / 04
Made it fundable
We ran the process to make Probis investable: first a seed round with angels and early-stage VCs, then an international Series A led by JLL Spark.
Step 04 / 04
Still in it
mantro is a shareholder and keeps helping wherever we can. On the foundation we built together, Probis runs its AI modules today.
04Outcome
What Probis achieved
- LiveCALCULATEQuantities and costs from contracts, plans and BIM models — in minutes.
- LiveDECIDEDashboards and financial reports on demand, from live project data.
- BetaCONTROLIncoming costs allocated to budgets and contract packages automatically.
- BetaDETECTInvoices checked against contracts — discrepancies flagged before payment.
- In developmentPREDICTCost and schedule overruns spotted early.
The AI proposes, a human confirms. Source: PROBIS AI Labs
- R—01
Series A led by JLL Spark
International investors backing a company that reinvented itself.
- R—02
Four markets
Germany, MENA, the US and Asia — mantro's first venture to scale internationally.
- R—03
Legacy to cloud in ~12 months
A complete rebuild, with existing customers migrated to the new platform.
05Learnings
Learnings
- 01
Domain knowledge can't be replaced
A team that has understood its market for years is the most valuable asset. Technology can be added — market experience can't.
- 02
Code alone doesn't make you fundable
Product rebuild, business model, financial model and fundraising have to come together. Any one of them alone is not enough.
- 03
Established companies can be rebuilt
Probis was more than ten years old. Sweat equity works not only for startups, but just as well for companies renewing their foundation.
Get in touch
If you want to stress-test an idea, unblock an initiative, or simply see whether we're the right partner, let's talk. You can book a straight-to-the-point session with our CEO Manni, or leave us a message.
- Address
- Zielstattstr. 19
81379 München - hello@mantro.net