What is Procore?
Headquartered in Carpinteria, California, Procore provides a comprehensive cloud-based platform designed to streamline construction management. By integrating project management, financial oversight, quality control, and safety protocols into a unified interface, the company addresses the inherent complexities of large-scale building projects. Procore's software is engineered to mitigate risk, ensure budget adherence, and maintain project timelines, effectively digitizing workflows that have historically relied on fragmented, manual processes. As an enterprise SaaS provider, Procore occupies a pivotal role in the digital transformation of the global construction industry, enabling stakeholders to maintain real-time visibility across the entire project lifecycle.
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 Bessemer Venture Partners, TriplePoint Venture Growth BDC, Lumia Partners, and Iconiq Capital
Other Financing Round (2019): $80M featuring Deerfield Managment Company, TriplePoint Venture Growth BDC, ICONIQ Capital, and Bessemer Venture Partners
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 long-standing venture capital firm with a history dating back to 1911, specializing in early-stage and growth-stage investments across diverse technology sectors.
ICONIQ Capital
A privately-held investment firm providing financial advisory and family office services, with a strong focus on technology growth equity and venture capital.
TriplePoint Venture Growth BDC
A global provider of financing solutions for high-growth technology and life sciences companies, offering venture growth stage capital and debt instruments.
What's next for Procore?
With the support of major enterprise-level funding, Procore is well-positioned to accelerate its product innovation and expand its footprint in the global construction market. The strategic allocation of these resources will likely focus on deepening the platform's analytical capabilities, enhancing interoperability with other construction tech ecosystems, and scaling its field productivity tools to meet the evolving demands of modern infrastructure development. As the industry continues to prioritize efficiency and data-driven decision-making, Procore's focus remains on maintaining its competitive edge through continuous software iteration and strategic market penetration, ensuring that construction professionals remain equipped with the most advanced tools to manage complex, high-stakes projects.
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