What is Procore?
Headquartered in Carpinteria, California, Procore provides a comprehensive cloud-based platform designed to streamline construction management. The software suite offers robust tools for project management, financial oversight, quality and safety compliance, and field productivity. By centralizing data and communication, Procore enables construction professionals to mitigate risk, maintain project schedules, and adhere to strict budgetary constraints. Its market position is defined by its ability to serve as the single source of truth for stakeholders across the entire construction lifecycle, from pre-construction planning to project closeout.
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 Iconiq Capital and Bessemer Venture Partners
Series F (2016): $80M with participation from Bessemer Venture Partners and ICONIQ Capital
Series G (2016): $50M led by ICONIQ Capital
Series H (2018): $75M supported by Bessemer Venture Partners, TriplePoint Venture Growth BDC, Iconiq Capital, and Lumia Partners
Other Financing Round (2019): $80M featuring Deerfield Managment Company, TriplePoint Venture Growth BDC, Bessemer Venture Partners, and ICONIQ Capital
Other Financing Round (2020): $150M backed by D1 Capital Partners
Stock Issuance/Offering (2021): $634.5M, investors not publicly disclosed
Key Investors in Procore
ICONIQ Capital
ICONIQ Capital is a privately-held investment firm providing financial advisory and family office services with a focus on technology growth equity and venture capital.
Bessemer Venture Partners
Bessemer Venture Partners is a long-standing venture capital firm with a global presence, specializing in early-stage and growth-stage investments across various technology sectors.
TriplePoint Venture Growth BDC
TriplePoint Venture Growth BDC provides specialized financing and debt solutions to high-growth technology and life sciences companies backed by top-tier venture capital firms.
What's next for Procore?
With the support of its latest strategic investment, Procore is well-positioned to deepen its penetration into the enterprise market and enhance its suite of AI-driven analytics tools. The company's focus remains on scaling its platform to meet the increasing demand for digital transformation in the construction industry. As Procore continues to integrate financial management and field productivity features, it is likely to pursue further market consolidation and international expansion. The strategic deployment of these funds will be critical in maintaining its competitive edge against emerging niche players while reinforcing its status as the industry standard for construction project management.
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