The Round
ProcurePro closed $15M Series B led by QIC Ventures. French construction giant Bouygues (already a customer) invested via ISAI. Existing backers AirTree and Glitch Capital followed. Post-money valuation: $110M.
Total raised to date: approximately $32M across seed, Series A ($11M), and this round.
The Hiring Plan
100 roles over 24 months. Functions: product, engineering, go-to-market. Locations: Brisbane (HQ), London, Dubai, plus first US office (location not disclosed).
No comp details released. Worth noting: construction tech sales typically requires domain knowledge. AEs selling into head contractors and project managers need to understand procurement workflows, not just close deals.
What They Actually Do
ProcurePro sells procurement software to head contractors (main contractors managing subcontractors). Single platform for scheduling, tendering, bid analysis, subcontracting. Replaces spreadsheets, email chains, disconnected documents.
Target market: the messy 80% of project costs that flow through subcontractors and suppliers. Six-year-old company, now deployed across 6,000+ projects globally.
The AI Pitch
CEO Alastair Blenkin says the funding goes toward AI development. Specifically: using historical procurement data to estimate new project costs. Instead of finger-in-the-wind estimates, actual purchasing history.
Competitive context: broader construction platforms like Procore and Oracle's Aconex cover procurement as one module. ProcurePro's bet is specialisation wins in a $13T global construction supply chain.
What This Means for Sales Teams
If you are selling into construction: this is the procurement layer, not project management or field operations. Different buyer (procurement managers, commercial teams), different pain points (supplier fragmentation, cost control, admin overhead).
US expansion likely means AE hiring in 2026-2027. Brisbane HQ suggests comp will track ANZ market rates unless they adjust for US talent competition. No details yet on territory structure or quota expectations.
Bouygues on the cap table is a signal: large enterprise customer turning investor. That relationship matters if you are prospecting into global construction firms. Strategic investors often open doors, but they also complicate competitive deals.