What is Procore?
Headquartered in Carpinteria, California, Procore provides a comprehensive software platform designed to streamline the construction lifecycle. By integrating project management, financial oversight, quality and safety protocols, and field productivity tools, the company addresses the inherent fragmentation of the construction industry. Procore's software-as-a-service (SaaS) model enables real-time collaboration between stakeholders, effectively reducing operational friction and enhancing project delivery outcomes. As an enterprise-grade solution, it has become a standard for firms seeking to digitize their workflows and improve bottom-line performance through data-driven insights.
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 Bessemer Venture Partners and ICONIQ Capital
Series G (2016): $50M led by ICONIQ Capital
Series H (2018): $75M supported by Iconiq Capital, Lumia Partners, TriplePoint Venture Growth BDC, and Bessemer Venture Partners
Other Financing Round (2019): $80M featuring Bessemer Venture Partners, Deerfield Managment Company, TriplePoint Venture Growth BDC, 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
Bessemer Venture Partners
A prominent venture capital firm with a long history of backing transformative technology companies, providing strategic guidance and capital across multiple growth stages.
ICONIQ Capital
A privately-held investment firm that manages direct investments with a specialized focus on technology growth equity and middle-market buyouts.
TriplePoint Venture Growth BDC
A global provider of financing solutions tailored for venture growth-stage companies, focusing on maximizing total returns through debt and equity-linked instruments.
What's next for Procore?
Looking ahead, Procore is positioned to leverage its significant capital reserves to accelerate product innovation and deepen its penetration into global markets. The company's strategic focus remains on enhancing its platform's interoperability and expanding its ecosystem of integrations. By prioritizing the development of advanced analytics and automated reporting features, Procore aims to further solidify its role as the primary operating system for the construction industry. As the sector undergoes a broader digital transformation, Procore's ability to maintain its technological edge will be paramount in sustaining its growth trajectory and delivering long-term value to its enterprise clients and stakeholders.
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