Why We Invested in PLAN4

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We are pleased to lead an investment in PLAN4 Software GmbH, a German software company specializing in the digitalization of real estate portfolios and headquartered in Freiburg im Breisgau. Founded in 2018 by Thorsten Harig and Dr. HendrikSeibel, PLAN4 has become a leading digital platform for municipalities and church institutions, enabling them to better understand, manage, maintain, andsustainably develop their real estate assets.

PLAN4 provides an end-to-end software platform that enables public and semi-publicreal estate owners to digitally assess building conditions, plan renovation measures, and sustainability investments. Today, PLAN4 serves hundreds of customers across Germany, supporting municipalities and church communities in managing thousands of aging buildings amid increasing regulatory requirements and budget constraints.

The investment will support PLAN4’s next phase of expansion, enabling the company to scale its commercial organization, strengthen financial and operational processes, and accelerate the nationwide rollout of its platform. In addition, the investment will fuel continued product development, deeper sustainability insights, and the introduction of AI-driven features to further automate assessments, cost forecasting, and regulatory prioritization.

What & Why

Across Germany, public and semi-public real estate owners are challenged by aging building portfolios, rising regulatory demands, and limited capacity to effectively assess and act on portfolio insights. Many municipalities and church organizations still rely on manual inspections, spreadsheets, and fragmented reports to assess building conditions and estimate renovation costs.

These outdated processes result in poor visibility into investment needs, ineffective allocation of budgets, and difficulty in meeting sustainability targets. At the same time, labor shortages and rising construction costs make traditional approaches increasingly unworkable.

PLAN4 addresses these challenges by offering a comprehensive digital platform that replaces fragmented workflows with a single, integrated system. The platform enables mobile, on-site building inspections, translates technical findings into standardized condition reports, and calculates renovation costs (includingtheir sustainability impact).

By digitalizing and standardizing these processes, PLAN4 reduces manual effort, improves data quality and comparability, and empowers decision-makers to plan renovations more efficiently, transparently, and strategically.

Investment Thesis

We believe PLAN4 is uniquely positioned to become the system of record for real estate portfolio planning in Germany’s public and semi-public real estate sector. Our investment is driven by several key factors:

Large Market with Regulatory Tailwinds: Germany’s municipalities and church institutions manage hundreds of thousands of aging buildings with a major renovation backlog. Rising energy efficiency mandates, emissions targets, and subsidy programs are accelerating demand for structured, compliant renovation planning, resulting in a large, underserved market opportunity.

Mission-Critical, Embedded Product: PLAN4 covers the full real estate portfolio planning, from building assessments and cost modelling to energy planning and renovation outcome tracking. Providing a portfolio-wide view that embeds the platform in core workflows and supports strong long-term customer relationships.

Proven Traction and Team: PLAN4 shows strong momentum with a fast-growing customer base, recurring revenues, and high retention. Founders Thorsten Harig and Dr. Hendrik Seibel bring deep industry expertise, ensuring strong alignment between the product and customer needs.

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Trends and Opportunities

Several structural trends support PLAN4’scontinued growth:

Aging Public Building Stock: A large shareof Germany’s public and church-owned buildings require significantmodernization in the coming decades.

Increasing Sustainabilityand Energy Requirements: National and Europeanregulations are pushing public asset owners to improve energy efficiency andreduce emissions, increasing the need for reliable insights and renovation planning tools.

Operational Constraints and Labor Shortages: Municipalities and church organizations face shortages of skilled staff, making automation and digital decision support essential to manage their real estate portfolio effectively.

Digitalization of (Semi)-Public Sector: Public institutions are under growing pressure to professionalize and digitalize internal processes, creating a favourable environment for specialized, easy-to-adopt software solutions like PLAN4.

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With its focused product, strong customer adoption, and clear regulatory alignment, PLAN4 is well-positioned to scale across Germany and, over time, expand into adjacent markets.

We are excited to partner with Thorsten, Hendrik, and the entire PLAN4 team as they continue to build a category-defining platform for renovation and energy efficiency planning. Together, we aim to support the digital transformation of public real estatemanagement and contribute to a more sustainable built environment.

For more information about PLAN4, visit plan4software.de.

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