Australian construction technology startup ProcurePro has secured $11 million in new funding as it expands its AI-powered procurement software into international markets, including the United States.
The investment round was led by QIC Ventures and included support from existing investors AirTree and Glitch Capital. French construction giant Bouygues also joined the company’s cap table through a fund managed by Paris-based venture firm ISAI, according to Startup Daily.
The funding marks another major step for ProcurePro as construction companies worldwide increasingly look for digital tools that can improve efficiency, reduce delays, and better manage project costs.
Focused on Modernizing Construction Procurement
Founded in Brisbane, ProcurePro develops software that helps contractors manage procurement workflows during large construction projects. The platform is designed to replace traditional manual systems such as spreadsheets, emails, and disconnected documents.
The company’s software allows teams to manage tendering, subcontractor engagement, contract tracking, and procurement planning through a centralized platform.
ProcurePro says procurement plays a critical role in construction projects because a large percentage of overall project costs are determined before building work even begins. The company also stated that its platform has already been used on more than 6,000 projects globally.
Funding to Support AI Development and Global Growth
ProcurePro plans to use the new capital to accelerate development of its artificial intelligence capabilities and expand its global operations.
Founder and CEO Alastair Blenkin said the company wants to help contractors make faster and more informed procurement decisions by using data gathered from previous construction projects.
The startup also plans to hire around 100 employees over the next two years across engineering, product, customer success, and sales roles. As part of its international growth strategy, ProcurePro confirmed plans to establish its first office in the United States while continuing to grow teams in Brisbane, London, and Dubai.
Bouygues Investment Highlights Industry Interest
The participation of Bouygues is seen as a significant milestone for the startup. Bouygues is one of Europe’s largest construction and infrastructure companies and had already been using ProcurePro’s technology before investing in the business.
The investment reflects growing collaboration between major construction firms and technology startups as the industry increases spending on digital transformation and project management software.
ISAI, the venture capital firm involved in the deal, recently partnered with Bouygues to launch an €80 million investment initiative focused on construction and infrastructure technology startups.
Building Momentum in Construction Technology
ProcurePro has steadily expanded its funding over the past several years. The company previously raised a $2.6 million seed round in 2022 and a $6.15 million Series A round in early 2024. According to Startup Daily, the latest funding round values the company at more than $80 million.
The construction sector has traditionally been slower than other industries to adopt modern software systems, but rising material costs, labor shortages, and project delays are driving demand for digital tools. With fresh funding and new global expansion plans, ProcurePro is positioning itself to become a larger player in the growing construction technology market.
