What is Procore?
Headquartered in Carpinteria, California, Procore offers a comprehensive software platform designed to streamline construction project management. Its suite of applications assists construction professionals in mitigating risks and ensuring projects remain on schedule and within budget. The platform encompasses modules for project management, financial oversight, quality and safety assurance, and field productivity, catering to the complex needs of the construction industry.
How much funding has Procore raised?
Procore has raised a total of $1.1B across 11 funding rounds:
Series D
$15M
Series E
$30M
Series F
$80M
Series G
$50M
Series H
$75M
Other Financing Round
$80M
Other Financing Round
$150M
Stock Offering
$634.5M
Series D (2014): $15M featuring Bessemer Venture Partners
Series E (2015): $30M backed by Bessemer Venture Partners and Iconiq Capital
Series F (2016): $80M with participation from ICONIQ Capital and Bessemer Venture Partners
Series G (2016): $50M led by ICONIQ Capital
Series H (2018): $75M supported by Iconiq Capital, TriplePoint Venture Growth BDC, Lumia Partners, and Bessemer Venture Partners
Other Financing Round (2019): $80M featuring Bessemer Venture Partners, ICONIQ Capital, Deerfield Managment Company, and TriplePoint Venture Growth BDC
Other Financing Round (2020): $150M backed by D1 Capital Partners
Stock Issuance/Offering (2021): $634.5M, investors not publicly disclosed
Key Investors in Procore
Bessemer Venture Partners
Bessemer Venture Partners is a venture capital firm with a long history, established in 1911, known for its investments in technology companies.
Iconiq Capital
ICONIQ Capital is a privately-held investment firm founded in 2011, focusing on technology growth equity and venture capital.
TriplePoint Venture Growth BDC
TriplePoint Venture Growth BDC provides financing to venture growth stage companies, often in the technology and life sciences sectors.
What's next for Procore?
The substantial enterprise-level funding and strategic investments indicate Procore is in a strong scaling phase, likely focusing on expanding its market reach, enhancing its product offerings, and potentially pursuing strategic acquisitions. This capital infusion will enable Procore to further solidify its leadership in construction technology and drive innovation in digital transformation for the sector.
See full Procore company page
