Berlin's Theo Bags €25M to Run Real Estate on AI
Theo's AI platform Prosa handles everything from maintenance to bookkeeping, letting owners skip the endless admin of managing property.
Berlin-based startup Theo has just closed a €25 million Series A round, according to the company's press release. Existing backer Insight Partners pre-empted the round with fresh equity, while funds and accounts managed by BlackRock chipped in a debt facility. That brings Theo's total funding to €36 million since the company was founded in 2023.
Theo's pitch is simple: owning real estate shouldn't mean juggling brokers, property managers, insurers, and endless paperwork. Its AI platform, called Prosa, actually gets things done instead of just filing another ticket that never gets resolved. It handles bookkeeping, commissions repairs, approves invoices, closes the books, and resolves tenant complaints along the way. Industry veterans still oversee the system and step in on tricky judgment calls, and every human intervention feeds back into the underlying AI models. Underneath it all sits a knowledge graph that grows with each interaction, building a digital twin of the physical properties Theo manages.
The numbers behind the raise are hard to ignore: revenue grew 400 percent over the past year, and the platform now covers more than 25,000 apartments.
"Owning real estate should be simple. You own an asset," said founder and CEO Jona Schaeffer in the press release. "But somewhere along the way, owning it came to mean managing an army of brokers, managers, insurers, and paperwork." Traditional software, he added, was never built to handle that kind of complexity, but AI finally can.
Richard Matus, Principal at Insight Partners, described Theo as a case of a strong team pointing AI at a market that's both huge and slow to change.
With fresh capital in hand, the Berlin company is set to keep scaling, tackling a market that's been waiting for a real software fix for decades.
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